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.
On-demand tutoring, the possibility to connect with a live tutor anytime – anywhere, is quickly becoming a must-have feature for edtech startups. Instead of booking a session with a tutor at a fixed date and time, students can now go online and pick from a list of tutors who are available at this moment.
Instructure filed a S-1 form with the Securities and Exchange Commission, aiming for a $75 million IPO.
Founded in 2008, Instructure has raised close to $80 million in venture capital including a $40 million Series E in February. The two main products are the Canvas LMS for K-12 and Higher Education, and Bridge which targets corporate clients.
More details on Education Week and 24/7 Wall St.
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.
Newsela, a personalized learning platform for literacy, raised a $15 million Series B round led by Kleiner Perkins Caufield & Byers (KPCB) with participation of Mark Zuckerberg, Priscilla Chan, Women’s Venture Capital Fund, the John S. and James L. Knight Foundation, and Owl Ventures.
Founded in 2013, Newsela has raised a total of over $22 million. The product is used by over 400.000 teachers reaching over 4 million students. The funding will be used to accelerate Newsela’s machine learning algorithm.