OnlineMedEd Inc. has raised more than $25 million, according to a filing with the U.S. Securities and Exchange Commission.
The Austin-based digital learning platform for medical students on March 30 filed the securities offering paperwork with the SEC, under the name OME Holding Co., less than nine months after announcing a $5 million funding round.
The latest offering totals nearly $25.6 million from 26 investors. That amount includes more than $5.5 million in converted debt, according to the filing.
OnlineMedEd was co-founded in 2014 by CEO Jamie Fitch and Dustyn Williams, who holds the title of lead educator at the company, according to his LinkedIn page. The startup creates free video lessons to help students get through medical school, and sells additional study materials such as notes and clinical case studies.
It's unclear how OnlineMedEd will use the new money. The company declined to comment on the new securities filing for the time being. In July, executives planned to direct the $5 million round "to support the expansion of their platform beyond medical school to provide high-quality educational content for the over 60 million healthcare professionals across the globe," according to an announcement.
At the time, OnlineMedEd said it had 350,000 monthly active users, representing a major increase during the Covid-19 pandemic. Fitch had previously said in January 2020 that its online materials were used by 200,000 people in 191 countries every month.
OnlineMedED users have included Super Bowl winner Laurent Duvernay-Tardif, the Kansas City Chiefs lineman who opted out of the 2020 season to help combat the coronavirus as an orderly at a long-term care facility in Canada, Maclean's reported.
For more information about OnlineMedEd's origins, check out this 2017 profile of the company.
