Silicon-Valley-based EdCast Scores $33.6 Million To Expand Operations Across The MENA Region
Emirati VC CE-Ventures announces its investment in the AI-powered Knowledge Cloud solution, among other global funders such as Softbank, REV Venture Partners and London Fund.
Now that it has garnered $33.6 million in investment, EdCast, an AI-powered Knowledge Cloud startup based in Silicon Valley, has just announced plans to expand across the Middle East and worldwide.
The investment comes from a group of global funders which include Softbank, REV Venture Partners, London Fund, and the Emirati Crescent Enterprises (CE) Ventures, the corporate venture capital platform of the global conglomerate Crescent Enterprises.
“With this funding, EdCast’s focus on providing knowledge and training that is fully integrated in the flow of work is coming to fruition faster than ever,” says Karl Mehta, CEO and Founder of EdCast, which is leading a global shift to the cloud in helping enterprises transition to AI-powered learning solutions. As knowledge workers struggle with unified discovery and access challenges across many content sources from multiple cloud applications, EdCast’s AI- and machine learning-powered platform recommends and presents content directly in the flow of work.
“We greatly appreciate the investor support and look forward to continuing expanding our efforts in meeting our customers’ needs and growing worldwide,” Mehta adds.
Keen on identifying and supporting promising emerging technologies, CE-Ventures is optimistic about EdCast’s potential to universalise its AI knowledge-based operating system for information curation and processing. “We are particularly delighted to participate in this revolutionary movement and assisting EdCast’s expansion in the MENA region,” says Director of CE-ventures Tushar Singhvi.
Since its founding in 2013, EdCast has managed to attract many Global 2000 and Fortune 500 customers as well as 2 million paid users across hundreds of companies and public-sector organisations.
Moreover, EdCast’s edge attracted tycoons such as HPE, Dell EMC, Schneider Electric, ANZ Bank, Jefferson Health, India’s NASSCOM and the World Economic Forum. The company has also partnered with companies such as edX.org, Regis Group, Cegos, and many others to provide content for EdCast’s ContentExchange, a marketplace for corporate learning content providers used for upskilling by leading global organisations.
