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By Lisa Lacy
November 25, 2003
Outside the Classroom, a provider of online health education programs, said it raised $2.5 million in a third part of its Series C round.
New investor Mayport Venture Partners joined returning investors Sherbrooke Capital, CommonAngels, and AngelHealthcare Investors in the third tranche. AngelHealthcare provided part of the first tranche of the Series C round, which raised $2 million in February 2002. The first tranche was led by Sherbrooke Capital and included Boston's CommonAngels. This same group of investors provided a $700,000 extension of the Series C round in December 2002.
The funding will be used for market expansion and product development said CEO Brandon Busteed. On December 15, the company will release a product targeting the high school market. He said the funds should last indefinitely as he anticipates profitability next year.
Outside the Classroom is the developer of the AlcoholEdu online prevention program that targets the problem of high-risk binge drinking on college campuses. In 2003, more than 50,000 students participated in the program at schools including Princeton, Dartmouth, Duke, University of Connecticut, Johns Hopkins, Villanova, Santa Clara University, Northwestern, and Syracuse.
In addition to AlcoholEdu for College, Outside the Classroom has released AlcoholEdu for Sanctions, a product that provides secondary prevention programs for students who violate campus alcohol policies. The company is also collaborating with Mothers Against Drunk Driving for AlcoholEdu for High School which the two organizations will co-market.
The company also has pilot installations with the military, Mr. Busteed said.
Founded in June 2000, Outside the Classroom has raised $8 million to date. The company has 20 employees and is fully staffed.
http://www.outsidetheclassroom.com
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