Warburg Pincus has led a $60 million growth round in ed-tech startup Civitas Learning Inc., marking the latest large investment in the sector during what could be a record year, Lizette Chapman reports for Dow Jones VentureWire. The Series D infusion is structured as a line of equity, with roughly $30 million in the bank and another $30 million available as Civitas needs it to make acquisitions. Other investors in the round include Austin Ventures, Gera Venture Capital, Emergence Capital Partners, Rethink Education and SJF Ventures.
Venture capital investment in U.S.-based education and training startups reached $604.4 million during the first half of 2015, according to industry tracker Dow Jones VentureSource. If that pace continues, total venture investing in the sector in 2015 would break the previous high of $1.08 billion set in 2000.
ALSO IN TODAY’S VENTUREWIRE (subscription required):
.ly Flags Down $7 Million for On-Demand Roadside Assistance. Roadside assistance has long been the domain of motor clubs and insurance companies, but startups are getting into the mix, including Urgent.ly Inc., which raised $7 million in funding, Lora Kolodny reports. Allianz Digital Corporate Ventures, Verizon Ventures and Forte Ventures provided the funding. Urgent.ly competes directly with HONK, a Santa Monica, Calif., startup that has raised $13.8 million in venture funding
Medium, the publishing platform created by Ev Williams, the co-founder of Twitter Inc. and Blogger, has raised $57 million in a round led by Andreessen Horowitz. The Series B round, announced in a blog post on Medium, included Google Ventures , Greylock Partners, Chernin Group and Obvious Ventures, the venture firm co-founded by Mr. Williams.
Madison Reed Inc., a maker of ammonia-free hair coloring products and instructional beauty apps, has raised $16.1 million in Series C venture funding to sell its products direct-to-consumers rather than via traditional beauty retail. Comcast Ventures and Shea Ventures led the new round, joining the company’s earlier backers True Ventures and Norwest Venture Partners.
MyoKardia Inc., which uses genetic targeting to treat rare forms of heart failure known as heritable cardiomyopathies, has filed for its initial public offering.
Kreditech Holding SSL GmbH has raised 82.5 million euros ($92.7 million) in a still-open Series C round that the online lending company hopes will top EUR100 million. Private equity firm J.C. Flowers & Co. led the round.
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ELSEWHERE AROUND THE WEB:
Phantom Cyber a Low-Key Startup in a World of Many ‘Shiny Objects.’ Cybersecurity startup Phantom Cyber Corp. has raised $6.5 million from private-equity firm Blackstone Group and venture-capital firm TechOperators, the WSJ’s Danny Yadron reports. The startup makes software to help other security tools work together and automatically respond to breaches.