Communications as a Service (CaaS) Industry News

TMCNet:  WizIQ secures $4 million in Series B round of funding

[January 28, 2013]

WizIQ secures $4 million in Series B round of funding

Jan 28, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- WizIQ, a provider of software-as-a-service (SaaS) based virtual classroom software, has secured $4 million in Series B round of funding led by Kaizen Private Equity and Bertelsmann, a Germany-based media company.

As a part of the transaction, WizIQ will merge with authorSTREAM, an online platform that PowerPoint users use to share presentation based content.

Deal Value (US$ Million) 4 Deal Type Venture Finance Sub-Category Growth Capital/Expansion Deal Status Completed: 2013-01-24 Deal Participants Target (Company) WizIQ, Inc.

Acquirer (Company) DirectGroup Bertelsmann GmbH Deal Rationale WiziQ intends to use the funds to build a better platform and infrastructure for online and blended education.

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