A news release from the company said the new funding will accelerate the growth of VIP and its cloud-learning subsidiary, Virginia-based Meridian Knowledge Solutions, and lead them to a bigger market share.
Based in Folsom, Calif., VIP makes a range of customizable software to design market strategies, analyze their progress, train staff and develop products according to need, serving over 1,200 public and private clients since its inception in 1996. Meridian sells a cloud-based learning management system with over 7 million users worldwide.
The news release said Morgan Stanley Credit Partners, based in New York, typically invests in “middle-market companies with excellent market positions, strong management teams, and EBITDA (earnings before interest, tax, depreciation and amortization)” of at least $10 million.
