Sympoz Closes $35M Series C Round Backed by Adams Street Partners
Sympoz has been hard at work building an online education service. Turns out, the company might be able to teach a few lessons of its own about raising investment cash.
Denver-based Sympoz, the parent of Craftsy, has just raised a $35 million Series C round, with private equity firm Adams Street Partners coming on as a new investor, according to an SEC filing the company made Wedensday.
In June, the company received a $2.58 million tax incentive package from the state, committing it to create more than 230 new jobs (and possibly up to 480.)
Sympoz (as in “symposium”) is the parent of Craftsy, an online site that offers instructional videos and classes. The company says it differentiates itself from competitors by creating professional HD videos that are accompanied by tools that let students interact with the instructor and fellow classmates.
As the name would suggest, Craftsy focuses heavily on craft projects such as knitting, photography, and quilting. It claims to have 1.5 million “makers” in its community.
According to a Denver Business Journal article, private equity firm Adams Street Partners is a new investor and is gaining a board seat. Boulder-based Foundry Group, Westminster, CO-based Access Venture Partners, Tiger Global Management, and Harrison Metal Capital were prior investors in Sympoz.
Sympoz founder and CEO John Levisay did not immediately return an e-mail asking for additional comments about the deal, while Foundry Group managing director Jason Mendelson, a board member, deferred questions to the company.