Moodle Pty Ltd, the independently-funded legal entity behind Moodle HQ, is announcing a $6 million AUD investment by Education for the Many. In return, the investment company gets a minor stake in Moodle and a seat on the board.
Moodle’s Martin Dougiamas commented on the announcement, saying,
“We have searched for a long time to find an investor who could truly understand and care about our mission, vision and values, and not just look at our organisation in monetary terms.”
Not much information is readily available about Education for the Many, other than the fact that its funds come from a French family involved in several businesses, Decathlon sporting goods being the most famous of them. Its only other involvement on record is in Educapital, an EdTech venture capital company less than a year old. Education for the Many’s website, whose information echoes the moodle.com press release, appears to have been created on September 22nd, a week before the investment was announced.
As a privately-owned company, Moodle Pty Ltd does not disclose ownership, shares, or board member names. Besides Dougiamas, Managing Director and CEO, and now an Education for the Many representative, no other information about board members is publicly available. As Moodle’s Head of Communications replied to an information request,
“Information on Moodle’s Board and its composition will be made available in due time through moodle.com/news and our social channels.”
As the size of the share is also undisclosed, no estimation about Moodle’s valuation is possible either.