Alven backs OpenClassrooms with €1m

The deal marks the second round of funding for OpenClassrooms. The company received its first capital injection in March 2012, when it secured €1.2m from Alven.

The fresh funding will be used to further develop OpenClassrooms' online education platform. The company also plans on rolling out a premium offering for its members.

In October last year, unquote" reported on the rising interest surrounding the online education sector, which has received an increasing amount of investment from the asset class in the last year or so.

France's venture capital investors appear to have taken a liking to the industry. In October last year, Isai and 3T Capital invested €1.2m in 360Learning, a Paris-based e-learning platform for MOOCs.

Company
Founded in 2007 and headquartered in Paris, OpenClassrooms currently offers 850 online courses on its platform. The company claims to have 2.5 million unique visitors to its site each month, including 700,000 members – 35,000 of whom are students subscribed to MOOCs.

People
Pierre Dubuc is president of OpenClassrooms and founded the company alongside director general Mathieu Nebra. Jérémy Uzan is a partner at Alven and sits on OpenClassrooms' board of directors.

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• Alven Capital