Orbis Education Secures $8 Mln In Series B Funding

Orbis Education announced the completion of $8 million Series B financing, led by Lightspeed Venture Partners of Menlo Park, California, to allow it to expand hybrid online nursing education programs.

Orbis, which was founded in 2003, creates, manages, and markets collaborative nursing education solutions.

Commenting about the investment, Daniel Briggs, Chief Executive Officer of Orbis, stated, "This new infusion of capital by Lightspeed will allow Orbis Education to broadly deliver one-stop educational services to healthcare organizations and universities looking to recruit and graduate more qualified nurses, more quickly."

In connection with the investment, Andrew Chung, a Principal at Lightspeed Venture Partners will take a seat on the company's board of directors.

In its statement, Orbis cited a recent study by the Bureau of Labor Statistics, that nearly 600,000 new nursing positions will need to be created by 2016 to address nationwide nursing shortage.

The company also cited the Bureau of Health Professions estimate that 90% more nurses will need to be graduated from nursing programs to meet that demand.

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