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Proversity to close funding round

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Proversity ​is to close a $1.5m investment round tomorrow courtesy of the international technology venture capital company RSBC.

The company has worked on projects for a wide variety of clients including the Bank of England, the British Army, Lloyds Bank and Family Mosaic – delivering open professional development to a potential audience of millions. The investment will enable the growth of software engineering and content production in a new state of the art facility in Cape Town which will enable Proversity to take on the US education technology giants.

“The funds will be used to take the company to the next level by focusing on key recruits in the sales, digital production and technology teams as well as underpinning the global reach of the platform.” Chris Kottnauer, partner at RSBC GROUP, said.

A $40m funding round, Snapchat’s poor results, Deliveroo’s first acquisition and more in The Week in Tech

The investment is a culmination of a year of hard work by the UK digital learning company which has built a global network in London, Santiago, Boston and Cape Town.

“The Deputy High Commissioner of South Africa has been kind enough to host this signing and give us an opportunity to thank the edX Team at Harvard & MIT, Wayra Unltd and Google Campus,” said Carl Dawson, Proversity CEO.

“A special thanks is also going out to the Duke of York for his support through the Pitch at the Palace initiative.

“Every one of these organisations has been tireless in promoting open education and UK technology companies through time, effort and investment – creating an environment to support and build great technology that is changing lives around the world,” he added.

RSBC plans to be actively involved in the support and development of the business and plans to hold its investment over a long-term horizon. Robert Schönfeld, the CEO of RSBC, will be joining the board of directors.

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