Canada-based Desire2Learn raised an $85 million Series B led by a large institutional asset manager with participation from Columbus Nova Technology Partners, Graham Holdings, Four Rivers Group, Aurion Capital and existing investors New Enterprise Associates and OMERS Ventures. Silicon Valley Bank also provided debt financing in this round.
The investment brings the company’s total funds raised to $165 million.
Today Junction Education, a startup founded by former McGraw-Hill executive Vineet Madan, officially launched. Junction Education aims to provide instructors and students with an easy to use course platform which integrates different kinds of web content into web- and mobile based courses.
Junction Education has received investment from two former heads of McGraw-Hill Education, Robert J. Bahash and Peter C. Davis, who are also advisors to the startup along with former Pearson Education Global CMO Gary L. June.
Last week we wrote about the 60+ edtech startups that are in risk of becoming seed orphans and therefore face an uncertain future. edshelf, an imagine K12 alumnus, is on the brink of shutting down but its co-founder Mike Lee decided to make a last stand in order to buy some additional time and turn his startup around.
edshelf is a socially curated directory of edtech tools that aims to help educators navigate the huge choice of educational apps, desktop programs and electronic products based on recommendations of its community.
500 Startups announced its 10th accelerator batch last week. It will be the second batch in San Francisco with 28 startups from across the globe participating. Ten of the startups did not raise money prior to joining the accelerator program, 24 of them are already generating revenue.
500 Startups is among the most active investors in edtech. In this batch three startups are in education technology.
Edmodo has raised a $30 million venture round led by Index Partners, bringing the total amount of funding raised to $87 million according to Xconomy.
Investors participating in the four venture rounds to date include Learn Capital, Benchmark, Union Square Ventures, Greylock Partners and others.
One year after John Yoo took over as CEO of Teachers pay Teachers from its founder Paul Edelman, the teacher resource marketplace shuffles its leadership again.
Adam Freed, who joined TpT’s board of directors in May as part of its venture round, takes over as CEO. Yoo will go back to his roots as former head of product and focus on mobile strategy and classroom initiatives.
Chipmaker Qualcomm announced the acquisition of mobile learning platform EmpoweredU for an undisclosed sum. Founded in 2011, EmpoweredU pivoted and changed names several times before settling on its current model, a mobile centered learning platform based upon the Canvas LMS. The EmpoweredU team will be integrated in Qualcomm’s other mobile focused education initiatives.
The company also announced that it has invested in Wowo, a mobile edtech startup through its new $150 million strategic fund for China which focuses on Internet, e-commerce, semiconductor, education and health. Wowo is targeting the pre-school English market.
At first glance these announcements seem to be a bit out of focus. Why does a hardware company want to be in the edtech space?
Cross-published on EDUKWEST Europe.
TES Global announced that it has acquired San Francisco-based edtech startup Blendspace, a platform that makes it easy for teachers to create digital lessons tailored to students’ needs. The amount for which the startup got acquired remains undisclosed.
Blendspace was founded in 2012 and had investment from imagine K-12, NewSchools Venture Fund and Silicon Valley angel investors. It will join San Francisco-based Wikispaces, a company acquired by TES Global in February 2014. In fact, the acquisition took place to strengthen and enhance the Wikispaces brand and content library.
Chegg announced a strategic partnership with book distributor Ingram along with its second quarter 2014 results on Monday. With results better than expected and a partnership that will immediately liberate $25 million of Chegg’s capital, shares were up 9% in afterhours trading.
The second quarter results also once more indicate the ongoing transition of Chegg into a purely digital business as stated by Chegg’s CEO Dan Rosensweig in the press release.
Here is our weekly rundown of the edtech news covered by our sister site EDUKWEST Europe.
This week we got news from TES Global, announcing that the next version of TES Resources will introduce paid downloads. Learning Technologies Group merged Epic and LINE Communications into a new brand: LEO Learning. ABA English, an English learning platform from Spain raised €2.5 million.