ExecOnline Nabs $18M Series C

ExecOnline (EXO), a leader in delivering certificate-bearing leadership and development (L&D) programs in partnership with elite business schools, today announced it had closed an $18 million Series C funding round led by ABS Capital Partners, a leading late-stage growth company investor. Existing investors New Spring Capital, Osage Partners, Kaplan, Inc., and New Atlantic Ventures also participated. The funding will be used to further develop proprietary L&D program offerings as well as to increase sales and marketing efforts. As a result of the transaction, Ralph Terkowitz, a general partner with ABS Capital, will join the EXO board of directors.

"EXO is poised to continue playing a pivotal role in online leadership and development initiatives across the enterprise ecosystem," said Stephen Bailey, founder and CEO of EXO. "In a world where talent is at a premium and the business environment is dynamic, organizations are looking to further develop their senior leaders with pragmatic programs that increase performance and retention. We look forward to working with ABS Capital as we scale our organization to deliver our solutions to more enterprises."

Founded in 2012, EXO develops and delivers a portfolio of enterprise leadership development programs, including both proprietary offerings and programs offered in partnership with elite business schools such as Berkeley, Columbia, IMD, MIT, Wharton, and Yale. Today, the Company's programs focus on strategy, innovation and change, leadership, and operations and finance, and combine the quality and engagement of in- person training with the scale and measurability of online learning. ExecOnline has the unique ability to serve entire enterprises with a learning and development platform that ensures consistency across all levels of the organization.

The increased pace of change and resulting strategic shifts within and across enterprises are resulting in the need for organizations to be innovative and agile. To be successful, L&D programs need to align the entire organization around common frameworks and methodologies to facilitate faster execution of strategic initiatives.

"We were impressed by the Company's distinct approach to the market, with its premium curated programming, its deep experience with upper management levels, and the high marks it receives from its marquee corporate customers," said Ralph Terkowitz. "ABS Capital, having successfully invested in several online education companies over the years, recognizes EXO as a leader in the corporate e-learning industry."

EXO's customers include more than 250 leading corporations mainly in the Fortune 1000.

About ExecOnline

ExecOnline partners with top business schools, including Berkeley-Haas, Columbia, IMD, MIT-Sloan, Wharton, and Yale, to rapidly deliver online leadership development programs that generate lasting organizational impact. ExecOnline's university-certified programs in leadership, strategy, innovation, operations, and more, feature dynamic content tailored to the unique corporate objectives of its clients. Programs consist of on-demand video lectures, self-paced application exercises, and live online collaboration with faculty and a global community of high-achieving professionals. ExecOnline has delivered transformational leadership development experiences to more than 250 organizations and 12,000 business leaders. For more information, visit www.execonline.com.

About ABS Capital Partners

For over 28 years, ABS Capital has been investing in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Our partners have decades of experience as C-level executives, investment bankers, and investors in the industries in which we invest: business and tech-enabled services and health care. This combination of experience and expertise means we have a laser-focus on the specific needs growth companies face as they look to get to the next level. By helping to transform over 120 companies through their most important stage of development, ABS continues to help unleash the potential for lasting growth. ABS Capital Partners. Here, we grow. For more information, visit www.abscapital.com.