Desire2Learn -- the parent company of the EdTech company that created Brightspace, an integrated learning platform -- announced a multi-million dollar financing haul.

The Ontario-based company has closed an $85 million Series B financing round led by a large institutional asset manager. The investment will bring the company's total funds raised to $165 million.

"[Desire2Learn] is committed to helping clients address the biggest challenges facing education and workforce development. By developing solutions that improve learner achievement, increase retention rates and inspire greater engagement, we're empowering our customers to help learners reach their full potential," said John Baker, president and CEO of Desire2Learn. "This latest round of funding will help us scale faster globally, expand our services and continue to deliver solutions that personalize learning."

Desire2Learn will use the investment to extend its position as a market leader. The company recently unveiled significant updates to its cloud-based integrated learning platform and launched several new technologies to improve education, including: a predictive modeling and data visualization engine to help instructors keep learners on track for success, an innovative adaptive learning engine to personalize learning paths, a new eTextbook platform with expanded publisher partnerships and a new game-based learning engine.

Desire2Learn said the investment will help the company continue to develop technology that makes learning more perceptive and personalized, and will assist in global expansion.

The Series B funding arrives as the company completed a year of record growth in the higher education, K-12 and corporate markets, along with significant international expansion. It also comes on the heels of the company's recent FUSION conference, at which it announced the latest updates to Brightspace, Desire2Learn's integrated learning platform, along with key partnerships with dozens of companies, including Microsoft and IBM.

Columbus Nova Technology Partners, Graham Holdings, Four Rivers Group, Aurion Capital and existing investors New Enterprise Associates and OMERS Ventures provided debt financing in this round.