The finance comes from Quester a venture capital investor which specialises in investing in early-stage technology companies.
It is the company’s first institutional funding round and will provide additional working capital as it expands overseas and consolidates its position within the domestic market.
UniServity’s main product is the Connected Learning Community (CLC) which it has sold to one in 10 secondary schools in the UK and a growing number of primary schools.
The company now wants to make a comparable impact in the education sectors of Hong Kong, China, Thailand, US, Australia, South Africa and the Middle East.
To aid this growth it has agreed a strategic partnership with the Pearson Group, the world’s largest education company, which will boost its profile abroad.
Alan Wood, chief executive of UniServity, said: “The UK is leading the world in the use of technology for transforming education and has been an early adopter of learning platform technology.
“We are now seeing other countries beginning to adopt these strategies and implement new learning technologies and we believe this provides us with an excellent platform on which to expand the business overseas.
“The capital raised from Quester, and their on-going strategic support of our business, will enable us to take advantage of this growing market opportunity.”
© Crimson Business Ltd. 2007
