Boost for baby boomers' online institute

education start-up for baby boomers, the Encore Career Institute in Los Gatos, says it has landed $15 million in first round financing co-led by VC firms Granite Ventures and InterWest Partners, reports Venture Beat.

Founder and CEO Steve Poizner, a Republican politician with roots in Silicon Valley as an entrepreneur, was previously elected California's Insurance Commissioner.

He was also a candidate for the California gubernatorial election in 2010 but lost the June Primary to former eBay CEO Meg Whitman.

Encore will offer professional certificates and career counselling services to baby boomers transitioning to new careers or seeking to remain viable in today's job market, The Washington Post writes.

The start-up has teamed up with UCLA Extension, the University of California, Los Angeles' division for continuing and professional education, which will serve as the licensed provider of programme content for the company.

Development of programmes and technology has commenced, with classes and services expected to begin in fall 2012.

In addition to UCLA, entertainment and sports agency CAA is intimately involved in the effort, saying it will be providing its resources to market the new Encore programme nationally, reveals Socal Tech.com.

Poizner said the firm will tap the “academic excellence at UCLA, the creative know-how of Silicon Valley and the marketing power of Hollywood.”