KnowledgeNet banks $17.5 million

KnowledgeNet announced Monday that it has raised $17.5 million in its fifth round of funding, bringing the company's total funding to $82 million. New investor General Motors Investment Management led the round and was joined by the company's previous investors, including Cisco Systems, Morgenthaler Ventures, Sierra Ventures, Trinity Ventures and Berkeley International Capital. KnowledgeNet develops and supplies corporate training content and software to businesses. The Phoenix-based company will use the new funding to hire more employees, develop products, expand its sales and marketing abilities, and broaden its services within the business sector.