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Clever Raises $10.3 Million in Series A Investment Led by Sequoia Capital

Fast-Growing K-12 Education-Technology Vendor Makes Huge Inroads Into 18,000 Schools: Removes Administrative Roadblocks to Foster Digital Learning

SAN FRANCISCO, Calif., March 25, 2014-- Clever, the K-12 education technology platform company already working with one-in-eight U.S. schools, today announced it has received $10.3 million in a Series A investment round led by Sequoia Capital. The round also includes individual investors Paul Graham (Y Combinator founder), Sam Altman (Y Combinator President) and Deborah Quazzo (GSV Advisors). As the lead investor in this round, Sequoia Capital Partner Bryan Schreier will join Clever's Board of Directors.

"Clever is the fastest growing and most beloved ed tech company we've met," said Bryan Schreier, partner, Sequoia Capital. "Tyler and team have developed the technology that is enabling the next generation of learning."

The new round of funding will be used to accelerate hiring and manage the company's next stage of growth as it evolves its underlying API technology into a digital learning platform for the classroom. Clever has seen unprecedented growth among schools, and is already used in more than 18,000 K-12 schools -- including nine of the nation's 12 largest school districts. Clever is also supported by more than 100 of the leading education developers -- including Amplify, Imagine Learning and Google.

Clever enables schools to take full advantage of the game-changing new world of digital learning by allowing learning software to integrate with any district's existing student information system. By providing this bridge, Clever frees teachers to spend less time moving data and more time reaping the benefits of personalized learning.

"The promise of digital learning is well known, but the challenges behind the scenes have greatly inhibited its adoption," said Tyler Bosmeny, CEO and founder of Clever. "With Clever, we tried to reimagine the entire process schools go through implementing and managing their learning software. Now, we'll be extending our platform to the classroom to more ramatically improve the way students and teachers can benefit from digital learning."

More information about Clever can be found at www.clever.com. Clever recently acquired this domain name and has moved its website from the previously-used www.getclever.com.

About Clever: Clever enables K-12 schools to take full advantage of the game-changing new world of digital learning by reinventing the set up, management and log in process for education software. Currently used by more than one in eight schools, Clever automates manual and time consuming tasks such as student account creation, making it easy for schools to implement and maintain a wide variety of learning applications. Clever is supported by more than 100 leading education developers including Amplify, Imagine Learning and Google.

San Francisco-based Clever was founded in 2012 by three Harvard classmates --Tyler Bosmeny, Dan Carroll and Rafael Garcia -- who shared a passion for education and technology. The company was originally started as part of Y Combinator and has quickly become established as a leader in education technology.

About Sequoia Capital: Sequoia Capital helps founders turn imaginative ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs," the Sequoia team has worked closely with legendary founders such as Steve Jobs of Apple, Larry Ellison of Oracle, Len Bosack and Sandy Lerner of Cisco, David Filo and Jerry Yang of Yahoo!, Max Levchin, Elon Musk and Peter Thiel of PayPal, Sergey Brin and Larry Page of Google, Steve Chen and Chad Hurley of YouTube, Reid Hoffman and Jeff Weiner of LinkedIn and, more recently, Drew Houston and Arash Ferdowsi of DropBox, Brian Chesky, Nathan Blecharczyk and Joe Gebbia of AirBnB and Jan Koum and Brian Acton of WhatsApp. Sequoia is now helping the next generation of innovators build the lasting companies of tomorrow in the U.S., China, India and Israel.


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