1M Students Strong, Echo360 Secures $31M From Steve Case, Ted Leonsis To Flip Higher Ed

Today, four-year-old Echo360 already has 1 million students using its blended learning solutions in over 6,000 classrooms and 500 institutions, owns 54 percent of its market, and is seeing annual revenue of $15 million. However, all told, Echo360 is only currently serving about 10 percent of the colleges and universities in the U.S., and, on top of that, its leadership sees big opportunities abroad. Now, thanks to a big investment from some familiar names, Echo360 is looking to step on the accelerator. The investment comes from the $450 million Revolution Growth fund, founded by Steve Case, Ted Leonsis, and Donn Davis -- all well-known entrepreneurs and executives in their own right and each a veteran of Aol leadership. (Case being a co-founder.) The fund, which typically makes $25 to $50 million investments in companies that it can help take "from niche to mass and scale to capitalize on huge market opportunities," (i.e. disrupt big industries) sank $25 million into Vienna-based online auction company, FedBid, in January.

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