Category Archives: Press Release

Press releases from edtech companies.

Udacity Series D FUNDED 11 2015 EDUKWEST

FUNDED: Udacity raises $105 million Series D

Former MOOC turned tech education platform Udacity raised a $105 million Series D, valuing the company at $1 billion. German media, services and education company Bertelsmann increased its stake significantly, making it one of the largest shareholders in Udacity.

Udacity partners with tech firms like Google, Facebook and Amazon to develop so called Nanodegrees that train employees specific tech skills needed for different jobs in the technology sector.

In September Bertelsmann combined its education activities into a separate business unit, Bertelsmann Education Group. Earlier this month Bertelsmann invested $230 million in HotChalk.

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Varsity Tutors Series B FUNDED 11 2015 EDUKWEST

FUNDED: Varsity Tutors raises $50 million Series B

Varsity Tutors, a tutoring marketplace, raised a $50 million Series B from Technology Crossover Ventures and others. The funding will be used to improve the company’s live tutoring technology, its mobile applications, infrastructure and to accelerate its global expansion.

Founded in 2007 at Washington University in St. Louis, Varsity Tutors offers a library of more than 100,000 free practice sets covering 150+ subjects and standardized tests.

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Schoology Series D FUNDED 11 2015 EDUKWEST

FUNDED: Schoology raises $32 million Series D

Schoology, a LMS for K-12 and higher education, has raised a $32 million Series D led by JMI Equity with participation from existing investors FirstMark Capital, Intel Capital, and Great Road Holdings. The company has raised a total of $57 million.

Founded in 2009, Schoology is used in more than 130 countries, reaching over 12 million users. In the past year Schoology added over 400 enterprise customers, surpassing 1000 institutions in K-12 and higher education.

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Bertelsmann HotChalk FUNDED 11 2015 EDUKWEST

FUNDED: Bertelsmann invests $230 million in HotChalk

Bertelsmann continues to expand its education portfolio. The media, services and education company announced that it will invest $230 million in higher education solutions provider HotChalk. Through the investment Bertelsmann will become the largest stockholder of the company.

In September Bertelsmann combined its education activities into a separate business unit, Bertelsmann Education Group.

HotChalk provides universities with the tools to bring their degree programs online. Founded in 2004, HotChalk raised a $5 million venture round in 2008.

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Phoenix E-Learning TAL Education Group FUNDED 10 2015 EDUKWEST

FUNDED: Phoenix E-Learning raises $30 million from TAL Education Group

Phoenix E-Learning Corporation has received a $30 million investment from TAL Education Group. Through the investment TAL Education will hold a 32% equity interest in the company.

Founded in 2003, Phoenix E-Learning operates zxxk.com, an online platform serving the Chinese K-12 sector. The portal is used in over 30,000 public schools totalling more than 15 million registered users.

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