October 14, 2011 by staff
Online Education, Today, innovative educational technology Knewton Announces Completion of one and 33 million funding round led by Founders Fund and Pearson, the world leader in learning. Returning investors include Accel Partners, Bessemer Venture Partners, FirstMark Capital and.
Knewton new financing will accelerate expansion of the award-winning adaptive learning platform of the company (TM), which transforms the content of any third party by personalizing education for each student.
Top Technology Knewton dynamically can remix any publisher or school educational material to match the strengths of each student, their weaknesses, and unique learning style. The optimization of the intersection between personal skills and course requirements, the material of the platform adapts to the level of concept of the needs of each student in real time, providing the most relevant content in the most effective. Ultimately, Adaptive Learning Platform (TM) maximizes learning and retention, boost job to better prepared teachers see students in class.
“Knewton is poised to become a global hub of online education and, more importantly, to improve education for all,” said Luke Nosek, managing partner of Founders Fund. “We could not be more excited about our investment.”
In the past year, Knewton was selected as a Technology Pioneer by the World Economic Forum in Davos, Switzerland. Knewton also launched two freshman courses in mathematics – Mathematics and College Algebra College – and a mathematical preparation at your own pace for college (TM) of course. To date, Knewton has partnered with some of the largest educational institutions in the United States, including Arizona State University (ASU), Penn State University (PSU), University of Nevada, Las Vegas (UNLV), the University Mount St . Mary, Washington State University (WSU), and the Corporation for Education Management (EDMC).
With this new capital, will bring its product Knewton for grades K-12, and collaborate with leading education publishers, universities and school districts. The company will continue to recruit aggressively, doubling its current team of 70 employees over the next 18-24 months, with special attention to software engineers and scientists the data. In addition, Knewton will launch its open platform, which will make its adaptive learning technology to third parties.
“There’s a revolution brewing in education,” said Jose Ferreira, company founder and CEO. “Among the broadband and the increase of the Tablet PC, many more students have access to their homework and even online classes. Thus are occurring unfathomable amounts of data. As the world leader in adaptive learning, Knewton can capture this data to give students a unique life profile learning that dramatically improves their educational experience. ”
“Demand for Adaptive Learning Platform Knewton (TM) is high, as it has grown past a proof of concept and is now ready to be used,” said David Liu, director of operations Knewton. “Right now, schools like ASU, thousands of students are enjoying our platform-driven courses, which automatically switch to bored students have mastered concepts, and instead of giving perfectly targeted lessons that have been optimized for the format media communication and commitment. Initial results have been very positive, with students reporting that they are committed to learning custom content, instead of all being forced through the same material. ”
Knewton has developed the first adaptive learning platform (TM), which customizes educational content to create a unique learning experience for each student. Patent pending algorithms Knewton now the power of their college preparatory mathematics (TM), the test preparation courses, and Knewton is associated with universities, publishers and other educational organizations to personalized learning for everyone in around the world. Knewton was founded in 2008 by Jose Ferreira, a former Kaplan executive, with Series A, B, C and financing from Accel Partners, Bessemer Venture Partners, First Round Capital, Capital first mark, and prominent angel investors. For more information, visit www.knewton.com.
About Founders Fund
Founders Fund provides capital to companies transforming business by world class. Companies the firm has backed include Facebook (managing partner Peter Thiel was first out of Facebook back), SpaceX, Palantir Technologies, ZocDoc, and Spotify. The company, which pursues one of the founders and their investment strategy, is overseen by four managing partners, all of whom have founded companies worth more than + 1 billion: Peter Thiel (PayPal), Ken Howery (PayPal) Luke Nosek (PayPal) and Sean Parker (Napster, Plaxo, causes, founding president, Facebook).
Pearson, the leading global learning, has a global reach and market-leading businesses in education, business information and consumer publishing / PSO quotes/zigman/1468888/quotes/nls/pso 0.00% . The company provides innovative print and digital education materials, including custom learning programs, such as MyLab and Mastering, educational services, including custom publishing, and content independent of platforms, including digital repository for Pearson LearningStudio EQUELLA learning programs online.
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