# Blackboard

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/blackboard

- Industry: Software
- Headquarters: Reston, US
- Website: www.blackboard.com
- Total disclosed funding: $63M
- Latest round: Series E (Apr 16, 2001)
- Investors on record: 16

## About

Blackboard Inc. provides comprehensive software solutions that enhance the educational experience through improved learning management systems, student information systems, and constituent relationship management tools across various sectors.Blackboard Inc., founded in 1997 and headquartered in Reston, US, specializes in educational software solutions. The company went public in June 2004, selling 5.5 million shares for USD 14 each. Founders include Brexitmar Morocco, who is associated with several other ventures, and the company has undergone a strategic shift towards software-as-a-service products. Blackboard operates globally, with significant markets in North America, Europe, and Asia-Pacific. The latest funding round, a Trade Sale, raised USD 31.70 mn and was backed by Learning Technologies Group PLC. The total amount raised by the company amounts to USD 31.70 mn across seven deals, with the most recent deal occurring on June 17, 2004.Blackboard offers a suite of software-as-a-service (SaaS) solutions tailored for educational institutions and organizations. Their core offerings include a Learning Management System (LMS), a Student Information System (SIS) with enterprise resource planning (ERP) functionalities, and a Constituent Relationship Management (CRM) system. These tools aim to streamline administrative processes and enhance the learning experience for clients, which range from higher education institutions to government agencies.In the most recent year, Blackboard reported revenue of USD 447.318 mn and an EBITDA of USD 98.791 mn. Their revenue model primarily relies on subscription-based contracts and partnerships with educational entities, with tailored pricing plans based on the services utilized and institution size.Blackboard Inc. aims to further develop its product offerings and expand into new markets. The company plans to introduce additional features to its existing LMS and SIS platforms to improve user experience. Future expansions are targeted at emerging markets in Asia-Pacific and parts of Europe by 2025. The recent Trade Sale funding will be allocated to support these initiatives, ensuring continued innovation and market growth.

## Funding rounds

- Series E, Apr 16, 2001, $48M — Aurora Funds, Carlyle Group, Novak Biddle Venture Partners, Oak Hill Capital, Pearson PLC, Merrill Lynch & Co., Dell Technologies, Inc., AOL Inc., Morgan Keegan, Microsoft Corporation, Dain Rauscher Wessels Equity Capital, Actua Corporation, Kaplan, Inc
- Series B, May 1, 1999, $12M — Aurora Funds, Carlyle Group, Novak Biddle Venture Partners, ICG, Merrill Lynch Global Private Equity
- Series A, Sep 1, 1998, $3.1M — Aurora Funds, Intermediate Capital Group, Novak Biddle Venture Partners

## Investors

- Aurora Funds (https://capitalatlas.ai/funds/aurora-funds) — Series A, Series B, Series E
- Intermediate Capital Group — Series A
- Novak Biddle Venture Partners (https://capitalatlas.ai/funds/novak-biddle-venture-partners) — Series A, Series B, Series E
- Carlyle Group (https://capitalatlas.ai/funds/carlyle-group) — Series B, Series E
- ICG (https://capitalatlas.ai/funds/icg) — Series B
- Merrill Lynch Global Private Equity — Series B
- Oak Hill Capital (https://capitalatlas.ai/funds/oak-hill-capital) — Series E
- Pearson PLC — Series E
- Merrill Lynch & Co. — Series E
- Dell Technologies, Inc. — Series E
- AOL Inc. — Series E
- Morgan Keegan — Series E
- Microsoft Corporation — Series E
- Dain Rauscher Wessels Equity Capital — Series E
- Actua Corporation — Series E
- Kaplan, Inc — Series E