Outschool, a San Francisco-based e-learning startup, has raised $ 110 million in Series D funding, and its valuation has been $ 3 billion as the company continues to change how children learn online.
The financing round was led by Tiger Global Management and BOND Capital, and the former doubled the initial investment. Other companies such as Lightspeed Ventures, Union Square Ventures, Reach Capital, Coatue, FundersClub and SV Angel were also involved, bringing the total funding raised for the startup to more than $ 240 million. Evan Feinberg, a partner at Tiger Global, said he was involved with the company in the startup:
“Out-of-school online learning provides parents and students with high-quality, comfortable and affordable out-of-school enrichment and additional learning. By offering small, personalized classes that are delivered online and in real time, Outschool has become a leader in the industry, and we are very excited to partner with them. ”
Unicorn was founded in 2014 with the mission to turn the experience of live online education into an attractive alternative to traditional education out of necessity. Using interactive games and platforms like Minecraft and Pokemon, the platform is able to make topics like Chemistry, Algebra and Literature appealing to children, allowing them to better engage with the content.
School boarding has seen explosive growth in recent years, and is one of them Fast companies‘”The Most Innovative Business of 2021″ and Inc.’s “Fastest Growing Education Company.” Teachers from countries such as Australia, New Zealand and the United Kingdom recently began using the platform as a result of the COVID-19 pandemic, fueling the startup’s growth. Amir Nathoo, CEO of Outschool, said:
“I couldn’t be more proud of what our team has achieved in the last year and a half. Now we recognize that real work is beginning as we increase and realize the platform’s capacity to inspire students around the world.”
To sustain this growth, the startup will use capital infusion to scale its platform and increase market share, as well as renew its efforts to help families in financial need through a nonprofit arm.
With online education now a regular event for millions of children around the world, Outschool aims to become a major player in how society adapts to this change. By making online education fun and interactive, an element that is often lost with transition, the startup platform is revolutionizing online learning forever.