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.
This Moodle Governance related post is made possible by: eCreators. Moodle for the enterprise, K12 and corporate. Australia and Singapore. To learn more about eCreators, click here.
[…] In 2016, Canvas registered $111 million in revenue, of which some $32 are said to go into “Research and Development.” Although Moodle Pty Ltd does not disclose financials, earlier this year it announced a $6 million AUD investment. […]
[…] the Education for the Many $6 million AUD investment, he revealed no new details other than that this would be the first time Moodle allows a third […]
[…] LMS. These initiatives, some of which have been in development for years, will benefit from the recent investment by socially responsible VC Education for the Many, as well as the expansion of eThink in North America, the Caribbean, and Africa. As an official […]
[…] Education for the Many’s $5 million AUD stake for 20% of Moodle Pty Ltd means the company was valued at $25 million at the time of the announcement, two years ago. […]
[…] was a witness of some of Moodle’s highest years of growth, right before the $6 million AUD capital infusion from Education for the Many. The release schedule of newer Moodle versions allows for “Project Weeks” throughout […]
[…] Moodle gets six million Australian dollars as investment from Education for the Many. […]
[…] This Story in English. […]