MOODLE, the Australian company behind learning management system tools used across the world, has raised $6 million from Education For The Many, a subsidiary of the Leclerq family office, based in France. This is the first time that Moodle has raised outside capital. This investor will take a minority stake and a board seat on Moodle.
“We have searched for a long time to find an investor who could truly understand and care about our mission, vision and values, and not just look at our organisation in monetary terms,” Moodle’s founder and CEO, Martin Dougiamas said in a prepared statement. “I’m incredibly happy that we’re beginning this journey together to boost the Moodle project to a much higher level of effectiveness and sustainability.”
Launched in 2001, Moodle now boasts an expansive global user community, numbering more 118 million users. In addition to the core company, there are more than 85 partners that provide a range of hosting, consulting, training, custom development services related to Moodle.
According to industry analyst Phil Hill, Moodle has captured more than half of the higher-ed LMS markets in Europe, Latin America and Oceania regions. (It faces stiffer competition from folks like Blackboard and Canvas in North America, where Moodle claims 25 percent of the market.)
This past May, Dougiamas shared with EdSurge his vision for Moodle (and why he grimaces at the letters “LMS”).
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