BrightBytes Receives $33 Million Series C Led by Insight Venture Partners to Further Accelerate Growth

SAN FRANCISCO, July 21, 2015 /PRNewswire/ -- BrightBytes, an award-winning educational research and analysis organization today announced a $33 million Series C financing. New York-based private equity and venture capital firm Insight Venture Partners led the round, with Bessemer Venture Partners, Rethink Education and Learn Capital also participating. The capital will be used to expand BrightBytes' Clarity platform for K-12 leaders, continue globalization of its customer base and develop engineering and customer success teams. As part of the transaction Nick Sinai, Venture Partner at Insight Venture Partners will join the BrightBytes board of directors.

Combining data analytics with sleek user-friendly design, BrightBytes' Clarity platform provides fast, informative answers for administrators managing a diverse range of challenges such as technology efficacy, dropout prevention, at-risk student identification, data privacy, digital safety and leadership effectiveness. BrightBytes gathers ideas from leading global experts and creates evidence-based frameworks combined with data from a school or region, giving K-12 leaders the tools they need to understand and quickly improve their students' learning outcomes. Approximately 1 in 5 schools in the United States use the Clarity platform.

"BrightBytes was founded with the mission to improve the way the world learns through the use of data," said Rob Mancabelli, CEO of BrightBytes. "Our partnership with Insight Venture Partners will allow us to continue our pursuit of that goal as we develop our team and widen the scope of our research and data analytics platform."

"We are pleased to join with BrightBytes as they continue their rapid growth," said Nick Sinai, Venture Partner at Insight Venture Partners.  "We see a large global market using data analytics to improve education, and the BrightBytes team is building a category-defining company."

About BrightBytes
BrightBytes' cutting edge analytics platform gathers research from the best experts in the world and creates evidence-based frameworks that help educational leaders make better decisions for students. The company's flagship platform, Clarity, makes research and analysis simple, fun and actionable. More information about BrightBytes can be found at www.BrightBytes.net.

About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $10 billion and invested in more than 200 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com or follow us on twitter: @insightpartners.com.

SOURCE BrightBytes