Global investors show trust in regional e-learning market

Part of this direct investment was made to support Element K Middle East, which is headquartered in Dubai Internet City.

This infusion of capital will enable Element K to continue advancing its leadership position in the e-learning market through ongoing development of innovative products. Element K will also continue to build upon its unique position as a provider of a comprehensive library of IT e-learning courses and IT instructor-led training courseware with consistent content and instructional design across media.

"This latest round of funding is a testament to our investor group's continued belief in our business. Given that our business is generating EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) positive results, and the fact that we achieved our goal of year-over-year on-line revenue growth, we are in the enviable position of having more than enough funding to meet our expected needs. Although the economic environment remains challenging, our business model is sound and we are well positioned for future growth," said Bruce Barnes, CEO of Element K.

From its roots in computer training and courseware development to its pioneer role in the e-Learning revolution and a unique 20-year heritage of understanding how adults learn, Element K is endowed with a breadth of online and offline integrated learning solutions and a choice of learning methods proven to unlock the knowledge of individuals in the workforce and drive value for organizations. The company comprises several strategically linked business units - each lending their own expertise to the blended, seamless, and integrated learning solutions for which Element K is known.

"We could not be more pleased with the confidence and commitment of our investors behind Element K and Element K Middle East," said Jamil Ezzo, General Manager, Element K Middle East. "At a time when many companies are contracting, we are expanding, thanks in large part to our premier partners. The lead investors in this most recent round of financing in Element K, have invested directly in Element K Middle East to further allow us to improve our localization efforts and better support the region. We are now in a better position to support the sizable e-Learning projects we are currently handling in the region, as well as the ones we will get in the future. Our partners and clients are thus reassured that we are here to stay and we will continuously offer them the best local support and localized products and services"

Element K became a pioneer of e-Learning in 1996 by offering the first interactive self-paced online course and the first major online learning site. Since then, Element K has become a respected leader in the e-Learning industry, known for its seamless, integrated products and unparalleled customer service and support.

The company also provides courseware, where it has long understood how a better-prepared workforce can drive value for enterprises. Element K's best-in-class courseware and cutting-edge delivery systems help support a rich learning environment that boost people's knowledge and company results. The Element K journals which comprise more than 30 monthly newsletter titles provide computer users worldwide with technology newsletters and information products, making the company a leading global source for comprehensive, innovative, and timely articles that help readers get the most out of the technology tools that they use every day.