Schoology, the learning management system that focuses on cloud collaboration, has today announced the close of a $32 million Series D financing led by JMI Equity, with participation from existing investors including FirstMark Capital, Intel Capital and Great Road Holdings. Schoology was founded back in 2009 and has pressed through the education sector’s slow pace of innovation to bring a product to market that can truly help students and teachers. Here’s how it works:
Investments Decline As Education Technology Grows Up
School may be out for summer, but the nation’s education-focused technology startups are still hitting the books, drumming up new business and new investments to capitalize on overwhelming demand for innovation from primary and secondary schools and colleges. New government initiatives are underway nationally — where education spending is expected to top $1 trillion — and internationally, cheaper technologies are making their way into the classroom, and venture capital firms are backing new companies targeting the market at an unprecedented clip.
Disruptive Classroom Technology Lures VCs In New Round
If you’re a parent, you may have found yourself frustrated by a teacher who didn’t “get” how your child learns– and missed a critical opportunity to ignite your younger’s curiosity. At the same time, you probably understood the many demands on teachers’ time that prevent them from figuring out that your child is, say, a visual learner, and customizing lessons as much as they might. Fast-growing technology firm Schoology–which offers some answers to challenges like this–just raised $15 million in funding in a round led by Intel INTC +0.89% Capital. Schoology’s award-winning platform for instruction and curriculum management offers teachers shortcuts to identifying the best way to teach their students. For instance, a dashboard helps them identify a student’s learning style based on responses to specific lessons and teaching methods used–then recommends content for that student. Schoology also offers mobile apps and a digital learning community.
Schoology Secures $15 Million to Fuel Growth and Product Innovation
Schoology has closed a new $15 million round of funding led by Intel Capital along with new investors Great Oaks Venture Capital and Great Road Holdings. Existing investors participating in this round are FirstMark Capital and Meakem Becker Venture Capital. The round brings Schoology’s total capital raised to $25 million, which will support continued expansion in K-12 and higher education markets.