Dulles, Va. – Echo360, a provider of Internet audio and
video technology used by universities, has raised the first $1 million in a
planned $2 million notes offering, according to a filing with the Securities
and Exchange Commission (SEC).
Nine investors have taken part since the first
sale on Dec. 1.
The company last raised $26.4 million in a round that began in
late 2008 and closed in April.
Dulles, Va.-based Echo360’s main offering helps
universities record and replay lectures from professors through podcasts, video
and rich media.
The technology was developed in partnership with the University
of Western Australia.
The company initially was born as a subsidiary of
Anystream, and in 2007 acquired Lectopia, a company providing lecture capture
services in Australia and New Zealand.