# D2L Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/d2l

- Industry: Software
- Headquarters: Kitchener, Canada
- Website: www.d2l.com
- Total disclosed funding: $167M
- Latest round: Series B (Aug 14, 2014)
- Investors on record: 6

## About

D2L Corporation provides a comprehensive online learning platform called Brightspace, which facilitates personalized education experiences for a diverse range of users across various sectors including education and corporate training.D2L Corporation, founded in 1999 in Kitchener, Canada, specializes in cloud-based learning management systems. The company has undergone strategic pivots to enhance its product offerings. It was co-founded by Jeremy Auger, John Baker, and Shaharul Islam. John Baker is the current CEO. In October 2021, D2L raised USD 150.03 mn in an IPO, marking a significant milestone in its funding journey, which has included 4 rounds of investment.D2L (Desire2Learn) offers a robust online learning platform through its flagship product, Brightspace, which is designed to facilitate personalized learning experiences at scale. Brightspace provides educators with powerful tools and customizable content to create engaging courses tailored to diverse learner needs. The platform is utilized across various sectors, including higher education, K-12 education, training organizations, government, and corporations, thereby serving a wide range of customers such as universities, school districts, businesses, and non-profits. Key features of Brightspace include tools for course design, AI-enhanced learning experiences, and comprehensive analytics to track learner performance. D2L markets its products globally, with a strong presence in North America, Europe, and the Asia-Pacific region, addressing the needs of learners and organizations in these diverse geographical markets.D2L generates revenue primarily through subscription-based models for its learning management system, Brightspace, as well as its various add-on services such as D2L Lumi, D2L Creator+, and D2L Performance+. Clients, including educational institutions and businesses, typically enter into annual agreements that grant access to these services, which may be structured around user licenses or tiered pricing based on the number of users or features selected. For example, institutions can subscribe to specific modules of Brightspace to enhance their educational offerings, providing them with the flexibility to tailor their investment according to their unique requirements. Revenue is also supplemented through partnerships and integrations that enable seamless usage of D2L’s tools within existing systems. Overall, the transactional structure is predominantly B2B, focusing on delivering comprehensive learning solutions to organizations seeking to enhance their educational frameworks.In October 2021, D2L Corporation raised USD 150.03 mn in an IPO, selling 8.83 million shares at USD 17 per share. The company plans to utilize this funding to extend its position as a market leader. Future growth strategies include the launch of new products and enhancements to existing offerings, although specific release dates have not been disclosed. D2L is targeting expansion into additional global markets, particularly in Europe and Asia-Pacific regions, to further increase its customer base and market presence.

## Funding rounds

- Series B, Aug 14, 2014, $85M — New Enterprise Associates, Four Rivers Group, Robert Graham Designs LLC, OMERS Ventures, Columbus Nova Technology Partners, Aurion Capital Management
- Series A, Sep 4, 2012, $82M — New Enterprise Associates, OMERS Ventures

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series A, Series B
- OMERS Ventures (https://capitalatlas.ai/funds/omers-ventures) — Series A, Series B
- Four Rivers Group (https://capitalatlas.ai/funds/four-rivers-group) — Series B
- Robert Graham Designs LLC — Series B
- Columbus Nova Technology Partners (https://capitalatlas.ai/funds/columbus-nova-technology-partners) — Series B
- Aurion Capital Management — Series B