Chicago-based BenchPrep secured $20 million in Series C venture funding from Revolution, Jump Capital, and Owl Ventures in a January 15 deal.
The company, founded by Ashish Rangnekar and Ujjwal Gupta in 2009, is a developer of an online learning platform.
With more than four million users, the company will use the funds to fuel growth and enhance its technology offerings and industry presence. Currently, BenchPrep partners with a variety of trade associations and testing organizations, such as ACT.
BenchPrep’s learner-centered cloud-based platform delivers customized online learning solutions for certification, credentialing, continuing education, test preparation, and training.
This latest round builds on previous fundraises of $8 million according to the company’s website. With the earlier funding, the company has been able to create a multi-functional platform that serves many different types of users – including test takers, individuals, businesses, and professionals seeking credit.
For example, BenchPrep partners with education and training organizations, including Association of American Medical Colleges (AAMC), National Conference of Bar Examiners (NCBE), Association of Supply Chain Management (ASCM), American Institute of Architects (AIA), and Hewlett Packard Enterprise (HPE).
“2018 was a banner year for BenchPrep. We are excited to help the leading education and training organizations modernize their learning programs to serve millions of learners,” said Ashish Rangnekar in a press release. “The professional learning landscape is going through a dramatic shift towards online, personalized learning.
BenchPrep is well positioned to lead this shift by helping education and training companies transform their business models and digitize their learning programs.”
Visit www.benchprep.com for more information about this company.