Sign in to Homeroom: Schoology Raises $6 M. for Scaling Up
April 16, 2012
By Kelly Faircloth
The latest edutech startup to see a cash infusion from eager investors: Schoology, which has raised $6 million in a round led by FirstMark Capital. Founded in 2009, the company–currently clocking in at one million users–peddles a collaborative learning platform available in a free version for teachers and a paid version for school districts. The investment brings their total funding-to-date to $9.3 million.
In a statement released this morning, founder and CEO Jeremy Friedman said:
This year will bring more exciting innovations as we pioneer and release transformative ways to connect our users to the best, and most relevant, academic content and applications.
The company plans to use the money for staffing up, entering new markets, and promoting its platform globally.
Betabeat reached out to FirstMark managing partner Amish Jani, who explained that the company’s appeal lies partly in the strength of its technology and partly in its rapid adoption by teachers and students. “It was clear this was disruptive technology and a disruptive approach in an area we think is a big market,” he told us.
Mr. Jani added: “I think the best part about it is that it’s the users who are selecting and adopting technology that they want to use in their classroom environment.”
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