Area 9 Lyceum receives $30M in funding from the Danish government via its investment firm, Vækstfonden.

Area 9 Lyceum, a Copenhagen, Denmark-based technology education company, announced a $30M investment from The Danish Growth Fund (VF Venture - Vækstfonden).

The company intends to use the funds for business and product development, expecting to rollout new products during 2018.

Area9 Lyceum is part of Area 9 Group, which develops personalized, adaptive online learning modules for schoolchildren, students, and professionals to be trained. Area 9 was founded in 2006 by its CEO Ulrik Juul Christensen and sold to the American publisher McGraw-Hill Education in 2014.

Area 9 Lyceum is a newly launched company for adaptive learning technology, also owned by McGraw through Aria 9, and brings together all of the Group’s learning activities and IP rights.