Outside the Classroom Raises $2 Million in Series C

2/22/2002

VentureWire

By VentureWire Staff Reporters

BOSTON, MA - Outside The Classroom, a provider of online health education tools for colleges, universities, and other markets, said it raised $2 million in its Series C round of funding.

New investor Sherbrooke Capital led the round with participation from previous investors, Boston's CommonAngels and AngelHealthcare Investors. John Giannuzzi, managing general partner at Sherbrooke Capital, and Mary Damkot, senior associate at Sherbrooke Capital, will join the company's seven-member board. There are no open seats.

The company will use the funds to expand its sales and marketing and for product development. Founder and CEO Brandon Busteed said the company will expand into new markets, most notably secondary schools and the military. In December 2001, the company announced a partnership with Mothers Against Drunk Driving.

Mr. Busteed said the company's headcount, which is at 15, should increase to 20 by the end of the year. Mr. Busteed said Outside The Classroom should hit profitability by the end of the year.

This round of funding brings the company's total raised to date to approximately $5 million.