Founded as EDU 2.0 in 2009 by Graham Glass, CYPHER LEARNING is reportedly the only provider of learning management systems (LMSs) for all major e-learning sectors: academic, corporate, and individuals. The company offers the MATRIX LMS for businesses (launched in 2010 and rebranded from EDU 2.0 for Business in 2014), the NEO LMS for schools and universities (launched in 2009 and rebranded from EDU 2.0 for School in 2014), and the INDIE LMS for entrepreneurs (launched in 2017). The platforms contain automation, mobile, social, and gamification features. In April 2022, in an effort to transition its learning management system into an "intelligent learning platform" (ILP) the company added AI-based intelligent features: goal setting and tracking, personalized recommendations, and community features. As of June 2021, the platforms are used by more than 20,000 organizations globally and support more than 40 languages. The company opened new offices across North America, Latin America, Europe, and APAC in December 2021 taking its global presence to 23 countries.
In June 2024,the company launched AI Crosscheck, an AI-powered accuracy tool to help improve the quality of AI-generated content.
In June 2021, the company raised USD 40 million in growth equity from Invictus Growth Partners. This is the company’s first external fundraise after being bootstrapped to profitability. Invictus Growth Partners’ co-founder and managing partner, John DeLoche, joined the company’s board of directors and the funds were earmarked for scaling the platform’s development, marketing, and sales operations and teams.
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