Forbes | 06.24.14

Schoology Lures VCs In New Round, Raises $15 Million

By Elaine Pofeldt

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 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.

“We allow educators to easily, create, measure and share all their academic material,” says CEO Jeremy Friedman, who launched the now 80-person New York City company in 2009, while still in college at Washington University in St. Louis, as part of a class project.

Educational tech is a crowded and highly competitive space, but investors are clearly paying attention. Other VC firms in this round include FirstMark Capital and Meakem Becker Venture Capital, which contributed to an earlier round of funding, and Great Oaks Venture Capital and Great Road Holdings. Schoology, which has raised $25 million to date, plans to use the money to expand further into the K-12 and higher education markets. Use of the platform is free for individuals but enterprise users such as school systems pay a fee.

Read the full article on Forbes