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Desire2Learn Inc., a Canadian technology firm, said on Tuesday it has secured $80 million in venture funding that will be used to help strengthen its infrastructure and boost its growth prospects. The privately held company, a leading developer of online learning systems, is based in Ontario’s Kitchener-Waterloo area, just minutes away from the home of BlackBerry maker Research In Motion.
Desire2Learn said the backing comes from U.S. venture capital firm New Enterprise Associates and OMERS Ventures – the venture capital arm of Ontario Municipal Employees Retirement System, one of Canada’s largest pension fund managers, Reuters reported.