ABSORB SOFTWARE, a Canadian developer of a learning management system designed for enterprise users and higher-ed institutions, has raised $59 million in a round led by Silversmith Capital Partners, a Boston growth equity firm. Founded in 2003 by a former bassist and a military commanding officer, Absorb claims its flagship product, Absorb LMS, is used by more than 2.5 million users across 600 institutions, including Airbnb, Boston Scientific, New York University and the University of Alabama. More details from the press release.
