Knewton to Accelerate Personalized Learning for Students Worldwide With $52M in Financing
Asian investors EDBI and TAL Education Group join Sofina, Atomico, and other existing investors to close round and fuel the future of education
NEW YORK, Feb. 2, 2016 /PRNewswire/ -- Knewton, the world's leading adaptive learning company, has now closed its latest financing round, totaling more than $52 million in capital that the company will use to accelerate the rollout of personalized learning solutions for students in partnership with the world's leading publishers and education companies.
This financing round, led by Belgium-based Sofina and London-based Atomico, marks Knewton's largest fundraising round to date. EDBI, the dedicated corporate investment arm of the Singapore Economic Development Board, and TAL Education Group, a leading K-12 education company in China, join Sofina, Atomico, and returning investors Accel Partners, Bessemer Venture Partners, FirstMark Capital, and Founders Fund in supporting Knewton's continued leadership in improving educational outcomes through a proven and unmatched algorithmic, data-driven approach to adaptive learning.
The financing will be used to expand Knewton's domestic and international infrastructure including technology, sales, implementation, and support teams—particularly in Asia where the business is rapidly expanding in China, Japan, India, and Singapore.
Knewton tailors educational content to meet each student's individual needs. Dozens of education companies, including some of the world's largest, use Knewton to power their adaptive learning products for K-12 and university-level students. Knewton has delivered more than 15 billion personalized recommendations to more than 10 million students on every continent except Antarctica.
NOTE: This latest round of financing totals more than $52 million, including the initial $42 million previously announced.
Knewton's mission is to personalize learning for the world. Teachers, schools, and education companies around the globe use Knewton to power digital course materials that dynamically adapt to each student's unique needs. Knewton provides students with tailored recommendations for exactly what to study, teachers with analytics to better support each student, and publishers with content insights to develop better products.
Founded in 2008, Knewton has offices in New York City, London, São Paulo, and Tokyo.
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