ProtoMedia/Kaplan EduNeering Big Virtual World Announcement

ProtonMedia Raises $4.5 Million in Series B Financing Led by Kaplan Ventures

Kaplan EduNeering concurrently forms strategic reseller partnership with ProtonMedia

ProtonMedia announced the successful completion of a $4.5 million Series B venture financing led by Kaplan Ventures. ProtonMedia will use the funds to extend its leadership position within life sciences by further integrating its ProtoSphere virtual collaboration environment with ComplianceWire®, Kaplan EduNeering’s validated cloud-based learning management system.

Life sciences and other highly regulated companies use ProtoSphere to create engaging environments that measurably improve the productivity and organizational effectiveness of globally dispersed teams. Kaplan EduNeering is one of the leading providers of technology-enabled compliance training in the market today.

“ProtoSphere is powerful online business software that improves learning and retention of business-critical information, all at a lower cost,” said Jason Palmer, Senior Vice President of Kaplan Ventures. “We believe it is poised to be a game-changing technology for delivering solutions that help companies make better decisions and improve business performance through enhanced corporate collaboration.”

ProtonMedia will use the additional capital to expand its marketing and sales programs and launch ProtoSphere Lync Edition 2.0, the company’s second-generation virtual collaboration environment that uses Microsoft’s Lync unified communications and collaboration technology.

As part of the financing, Kaplan EduNeering will become a strategic reseller of ProtonMedia products to its customers and vertical markets. ProtonMedia and Kaplan EduNeering have had a partnership for the past 18 months. During this time, the companies completed first-level product integration between ProtoSphere and ComplianceWire.

Lisa Clune, Kaplan EduNeering’s President, will join ProtonMedia’s board of directors. “ComplianceWire and ProtoSphere are a natural fit to create an engaging learning environment for life sciences companies and other organizations in highly regulated industries,” said Clune.

Additional venture investors participating in the Series B financing include Originate Ventures, Bethlehem, Pa.; and Osage Venture Partners, Bala Cynwyd, Pa., both of whom also participated in ProtonMedia’s $2.5 million Series A financing. This brings the total investment in the company to $7 million.

“With the economy still reeling from the financial crisis, we see large enterprise customers closing physical facilities and dedicating more effort to creating a virtual work environment,” said Ron Burns, CEO of ProtonMedia. “ProtoSphere’s unique ability to provide an engaging, cost-effective virtual workspace, where collaboration and learning come together, positions ProtonMedia for rapid growth in the years ahead. We’re pleased to complete this second round of funding as we continue to work with our advisors and partners to build out this exciting, new market.”