Desire2Learn Raises $80M in Financing Round

Desire2Learn Incorporated (“Desire2Learn”) completed an US$80,000,000 strategic round of financing from New Enterprise Associates (“NEA”) and OMERS Ventures (“OMERS”), making it the largest single venture capital investment in Canadian software history.

Desire2Learn, based in Kitchener, Ontario, is a global leader in cloud (SaaS) based learning solutions and provides an open and extensible platform to more than 700 clients and more than eight million learners in higher education, K-12, healthcare, government and the corporate sector, including clients on the Fortune 1000. The company provides the next generation learning environment and solutions to engage and inspire learners throughout their lives.

The investment will bolster Desire2Learn's customer service and cloud infrastructure, support global growth, and accelerate its development of industry-leading education technologies.

Desire2Learn was represented in Canada by Diane Lank, General Counsel, Daniel Micak, Assistant General Counsel, and by Gowling Lafleur Henderson LLP with a team that included David Petras, John Durdan and Sean Gomes (corporate); Ross Wells (employment) and Doug Buchmayer (trusts); and in the US by DLA Piper US LLP with a team including David Chalk and Penny Minna (corporate).

NEA was represented in the US by Stephanie Brecher, General Counsel-US, and Sheppard Mullin Richter & Hampton LLP with a team including Kevin Rooney, Louis Lehot, Ca-mille Formosa and Farha Chowdry (corporate); and in Canada by Paul De Luca (corporate) of Owens Wright LLP.

OMERS was advised by Danial Lam, Vice President, Legal, and Bennett Jones LLP with a team including Barry Reiter, Hugo Alves, Jesslyn Maurier and Ranjeev Dhillon (corporate) and Claire Kennedy (tax).