CYPHER LEARNING, a San Francisco-based provider of learning management systems for enterprises and educational institutions, announced that it has raised a $40 million growth equity round from Invictus Growth Partners, marking its first outside financing.
The investment will be used to accelerate the sales, marketing, and development of its learning platform, and build on its profitability.
Founded in 2009 by Graham Glass, CYPHER LEARNING is the parent company of three LMS products: MATRIX LMS for businesses, NEO LMS for schools and universities, and INDIE LMS for entrepreneurs. Currently, these products are used by more than 20,000 organizations globally and are available in more than 40 languages.
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