Schoology Secures $15 Million to Fuel Growth and Product Innovation
Fundraising Follows Customer Wins in Higher Ed and International Markets, Recognition as Top EdTech Product in CODiE Awards
NEW YORK, June 24, 2014-- 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. Click to Tweet.
“Intel is excited to be a part of Schoology’s growth as it strengthens its position in the K-12 market and continues expanding into higher education and international markets,” said John Galvin, vice president of the Sales and Marketing Group at Intel and general manager of Intel Education. “Learning platforms have quickly become one of the fastest growing segments in education technology, and Schoology has emerged as a leader in this space and continues building the best-in-class platform for education.”
Intel Capital’s Sumeet Jain will join Schoology’s Board of Directors.
Schoology—recently named the top education technology product at the 2014 SIIA CODiE Awards—has reimagined and redefined learning management systems by creating a collaborative, blended learning experience for use on any device, at any time or anywhere. Schoology provides tools for instruction and curriculum management, dedicated mobile apps, access to an integrated global learning community, advanced analytics and reporting, and an open platform for third-parties to build on top of the Schoology platform.
“We are in a golden age for education technology, and Schoology is at the forefront, driving innovation in the market. We continue to receive praise from our users, as well as industry accolades, for our work in building a unified platform that is helping to improve the learning experience for students of all ages,” said Jeremy Friedman, CEO of Schoology. “Intel is one of the largest names in global education, and their investment represents significant validation for the work we are doing.”
Schoology now supports five million users, across 50,000 schools and in almost every country. This new growth capital will allow Schoology to accelerate growth as it scales up operations, expands into new markets, and builds new features.
The round of funding follows a series of major wins for Schoology. In addition to winning three awards at this year’s CODiE Awards, the country of Uruguay recently selected Schoology for all 620,000 students in their national education initiative, and CSU Global Campus chose to collaborate with Schoology on a learning management system for its premier global online university.
Schoology will be exhibiting at ISTE 2014, the largest education technology conference in the U.S., June 28-July 1 in booth 3026. Schoology’s sold-out, inaugural user conference, Schoology NEXT, kicks off in Denver, June 24-25, with Alan November as the keynote speaker.
New York City-based Schoology—used by five million users in over 50,000 K-12 schools and universities around the world—combines dynamic learning management, an easy-to-use collaborative interface and next-generation API integration into one innovative solution. Schoology transforms learning into a media-rich interactive experience where students, teachers, parents and administrators work together to raise student achievement worldwide. Available as a free stand-alone product and as a fee-based integrated enterprise-class solution deployed in schools or across districts, Schoology is user-centric and scalable for any blended learning environment. More information at schoology.com or @schoology.
In our increasingly global economy, Intel Education recognizes that curiosity, critical thinking and a quality education are necessary to prepare tomorrow’s workforce for jobs of the 21st century. That is why Intel collaborates with governments, NGOs and industry to advance education and enable individuals to develop skills for lifelong success. Intel’s programs are tailored based on local community needs, but are unified by the common theme of unlocking individual potential by providing the skills and opportunities for success. www.intel.com/education
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,351 companies in 55 countries. www.intelcapital.com or follow @Intelcapital.
Jennifer Harrison, 916-716-0636
Venture Capital Database