Democrasoft Enters Into Agreement with Major Corporation
ByDemocrasoft Inc. today announced that it has executed an agreement with one of America’s largest and best-known corporations to participate in a special joint project involving the Collaborize Classroom online learning platform, Democrasoft’s flagship product. Under the terms of the agreement, Democrasoft is not able to disclose the name of the other party. In addition, Democrasoft has agreed to prioritize the development of certain aspects of its technology with a view to accelerating the deployment of various new features that Democrasoft has recently developed.
While there can be no assurance that this agreement will lead to any continued relationship, this agreement represents the first significant revenue event for Democrasoft related to its Collaborize Classroom blended-learning platform. Under the terms of the agreement, the other corporation will make a payment in the low six figures in the current quarter and another equal payment at the completion of the project.
“We are extremely gratified that one of America’s household names has expressed this level of interest in how our web-based platform can potentially create a significant opportunity for both parties in the education arena,” said Richard Lang, Chairman and CEO of Democrasoft. “While nothing is guaranteed, this relationship, if continued, could go a long way toward achieving our long-range goal of extending the reach of Collaborize Classroom around the world,” Lang added.
In an unrelated development, Democrasoft announced that, since its last update on July 5th, the number of Collaborize Classroom sites launched by teachers has now topped 8,300.The monthly growth rate for launched sites has averaged 34% since January; in June the growth rate exceeded 60%, even though school was out of session most of the month in most areas.
