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EDBRIEF: Ellucian acquired by TPG Capital and Leonard Green Partners

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Ellucian TPG Capital EDBRIEF 08 2015 EDUKWEST

Ellucian announced that private equity firms TPG Capital and Leonard Green Partners acquired a majority stake in the higher education SaaS provider from its current owners Hellman & Friedman LLC and JMI Equity.

Terms of the deal have not been disclosed, but sources told Reuters that the deal could value Ellucian around $3.5 billion. The deal is expected to close by the end of this year.

Ellucian is based on the assets of Datatel and SunGuard. H&P and JMI acquired Datatel in 2009 for $570 million. In 2012 Datatel acquired SunGuard’s higher education assets for $1.8 billion, renaming the company to Ellucian.

Ellucian currently serves 2.400 institutions in 40 countries. Last month the company announced that it will create 50 new jobs in Dublin.

Both TPG and H&P have been active in the education technology space in the past months. TPG led lynda.com’s $186 million Series B in January and sold Wikispaces to TSL Education last year. H&P acquired Renaissance Learning for $1.1 billion in March 2014.

Further Reading


MEP #070 with Jakob Garrow, Co-Founder and CEO of EdTrips

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MEP 070 Jakob Garrow EdTrips Meet Education Project EDUKWEST

In this episode of MEP, we have Jakob Garrow, the Co-Founder and CEO of EdTrips. We talk about what EdTrips is and the problem that he’s trying to solve. We also talk about education, experiential learning through the importance of travel, and also about business and building an entrepreneurial mindset. Enjoy the podcast!

Guest Bio:

Jakob Garrow co-founded EdTrips, an online platform for planning and organizing educational field trips, so that teachers can easily give their students the experiences that change their lives.

Before EdTrips, he founded WorldBrain, LLC, a company that enhances and expands the global experience for educators and travelers. Prior to that, he spent a year teaching in China, participated in the creation of two successful businesses, and managed a federal contracting company.

In the Edtrips website, Jakob shares that his favorite field trip is the Boston Tea Party Ships and Museums.

Jakob is a graduate of St. Lawrence University.

Show Notes:

(02:01) Jakob’s background

(04:12) What is it about travel that is so important to learning and development? What is it about that experiential thing that we get out of travel that’s so important?

(04:30) Jakob: Experience is the most powerful tool we have in education.

(06:00) Let’s take a look at the market. What’s the market size and what makes EdTrips unique in this market?

(07:29) So this isn’t just for teachers inside of schools, this is also for parents looking to bring  this sort of experience to children outside of the class , or even scout leaders, boy scouts, girl scout that sort of stuff?

(08:01) What sorts of venues have you partnered with that are taking advantage of your solutions?

(08:33)  So what do you see as next for EdTrips now that you have gotten this momentum? What are the next moves in 2015 – 2016 that you’re focused on?

(09:23) Most achievers have a close relationship with failure. Can you let the audience in on a failure you’ve experience and how you as a person or the company has been able to grow from it?

(12:03) You put in all this work into a product and it ends up not being the right venue and you have to pivot. From a mindset perspective, how do you persist and grow your resilience personally?

(14:40) What is the book that has most influenced you and why?

Ender’s Game by Orson Scott Card

(16:00) Do you watch documentaries, and if so, what’s your favorite?

(16:21) If you could have dinner with one person you admire, past or present, who would it be and why?

General George Patton: “A good plan violently executed now is better than a perfect plan executed next week.”

Link:

edtrips.com


Meet Education ProjectFor more episodes featuring thought leaders in education visit MeetEducationProject.com, subscribe to the podcast on iTunes and follow Nick DiNardo on Twitter.


EDBRIEF: Coursera raises $49.5 million Series C

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Coursera Series C EDBRIEF 08 2015 EDUKWEST

MOOC platform Coursera announced that it has closed part of a Series C round. The first closing totalled $49.5 million led by New Enterprise Associates (NEA) and joined by Kleiner Perkins Caufield & Byers (KPCB), International Finance Corporation (IFC), and Times Internet (TIL).

Coursera expects to add on an additional $10.1 million from GSV Asset Management and Learn Capital, others in a second closing later this fall.

With the new investment Coursera will be focusing on international expansion and sees potential growth markets in emerging economies in Latin America, China, and India. Already today three-quarters of platform users come from outside the U.S with China being the largest market with over 1 million registered learners.

Beside being a new investor in the platform, Times Internet will also provide marketing, advertising, and strategic support to build awareness for Coursera’s offering in India.

Coursera is set to focus on lifelong learners as well as helping learners to advance in their careers and acquire the skills necessary in today’s workforce. According to Coursera it currently offers 1,100 courses, has nearly 15 million learners, half of whom seek to improve their career or livelihood.

As a consequence, Coursera intends to more than double its Specialization offerings this fall.

Further Reading

Coursera Secures $49.5M in Series C Funding to Expand Access to Job-Relevant Learning Opportunities From the World's Best Universities | Marketwired

Market Brief: Mobile Learning India

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Market Brief Mobile Learning India EDUKWEST

Mobile learning is a growing sector in education across the globe, but it will have the largest impact in developing countries where mobile Internet outgrows, and often replaces, broadband connections at an increased speed.

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In our latest Market Brief “India: A Mobile Learning Power Player in the Making” we take a closer look at the mobile learning market in India which has the second highest five-year (2010-2015) growth rate with 61.3% in a worldwide mobile learning comparison conducted by Ambient Insight.

Our Market Brief covers the current state and prospects of mobile learning on the Indian subcontinent including the latest numbers on smartphone penetration, mobile learning initiatives by the Indian government and the private sector, as well as edtech startups and investors in the vertical.

The Market Brief “India: A Mobile Learning Power Player in the Making” includes:

  • Analysis

    Based on these data sets we also list the most promising verticals for mobile learning solutions in terms of potential user growth and funding opportunities for edtech startups along with an outlook on the challenges the mobile education market in India is facing.
  • EdTech Startup List

    Purchasing the Market Brief “India: A Mobile Learning Power Player in the Making” will also give you access to our list of 15 Indian mobile first education startups as well as 31 additional Indian startups that have added mobile apps to better position themselves in the market.
  • Reading List

    In addition to this, there comes an extensive reading list of over 20 articles covering mobile infrastructure, market size, e-learning marketplaces, mobile learning startups and investments.

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Picture License Some rights reserved by pabak sarkar

The Last Days of the Monolithic LMS

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Op-Ed Monolithic LMS EDUKWEST

The LMS, as we currently know it, is a relic from a long-gone era. An era where the internet was in its infancy, where static, text-heavy content was the norm, and where the web was accessed from the desktop. Where services like AOL, Yahoo and MSN tried to be everything to everybody.

But here's the problem: the Millennials and Gen-Zers in our classrooms and workforces don't remember this era (and in most cases, weren't even around to see it).

All they know is the agile, mobile, interconnected world that we live in today. A world where video consumes 80% of all internet bandwidth, where half of the world's population is on Facebook, and where almost every industry has been disrupted and changed forever by rapid advances in consumer technologies and behaviors.

The LMS is linearbut this generation doesn't consume content in a linear way.

The LMS is top-downbut they exist in a world where content can be freely created and shared by anybody, anywhere. Why should learning be 'managed', anyway?

The LMS is bloated and labyrinthinebut they're used to slick, pixel-perfect user interfaces and unbundled best-of-breed apps.

The LMS grew up on the desktopbut they grew up on mobile.

To put it bluntly, the traditional monolithic LMS is an anachronism in 2015 — and while the current generation of learners may be tolerating it for now, they won't for much longer.

And in the knowledge economy, with increasingly fierce competition for learners and for talent, this is a big problem. To compete in this new digital ecosystem, institutions and organizations need to start thinking beyond the traditional LMS.

They need to start encouraging and supporting the use of best-of-breed, tightly-focused learning applications.

They need to nurture this ecosystem by 'planting and pruning' learning applications over time, to ensure evolution and adaptivity in a rapidly changing world.

And they need to start building a cloud exostructure to support the agile, multi-platform online learning environment of the future.

Because the learning environment of the future isn't a one-man band — it's an orchestra.


Picture License AttributionNo Derivative Works Some rights reserved by p-a-t-r-i-c-k

Future of Work: Tearing Down the Wall Between Work and School

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OP-ED Future of Work Edgar Wilson EDUKWEST

School is definitely not out, and it never will be again.

Education does not--and cannot--occur in clean, distinct segments. The realities of modern workplaces, employment practices, and economics all demand that education be continuous. What this spells is a massive transformation of the old legacy institutions--primarily, universities--as working and learning overlap and interact in more, and more significant, ways.

Degrees provide less of a competitive advantage, instead functioning as a basic prerequisite for employment. Student loan debt continues to swell as high school graduates seek to pay for the credentials supposed to help lift them out of minimum wage jobs and into white collar occupations.

Income and debt, knowledge and skills—it is all getting linked together, with stakeholders and influencers overlapping. The futures of work and education are not just connected, they are the same: mobile, virtual, remote, and responsive.

The New Normal: Non-Traditional

Organizational challenges look broadly similar regardless of industry. A fast-paced, highly connected world is subject to near-constant disruption from technology, innovation, and global integration. As a result, professional flexibility is a critical asset for workers, and the ability to manage change is one of the driving leadership skills needed by contemporary executives.

Universities face the same disruption scenario: skills, knowledge, and the associated demand are moving targets. Students span the age spectrum, and many are returning to school with extensive hands-on experience, looking to supplement their practical knowledge with theory, or rounding out their professional background with academic credentials.

In short, what both work and learning used to be is different, and the institutions are growing increasingly interconnected. Employers and employees must rely increasingly on rapidly deployed educational resources to keep up with a fluid professional environment, and the traditional segregation between Degree Programs that take years to complete, and Professional Life, which commences after graduation and continues indefinitely, must be ended.

Instead, the notion of a ‘traditional student’ who is fresh out of high school and studying toward a career-oriented degree is blurring into something more like a ‘student-professional’ whose academic pursuits are informed directly by occupational needs. Instead of choosing between full-time work and full-time enrollment, work and schooling will require ongoing balance, as fresh ideas, technologies, and discoveries are disseminated among all industries in an endless cycle.

Concurrent Credit, Dual Enrollment

Work and school will overlap and influence each other over the course of an individual’s adult life. Professional demands will lead to academic engagement, which will drive workplace transformation, and back and forth.

As younger generations place a higher premium on work-life balance, academic opportunities that provide a similar balance will replace strictly time and campus-focused programs and delivery systems. Virtual classrooms, remote learning nodes, and the large-scale networking of education and its platforms, will be necessary to empower working professionals to acquire knowledge while remaining engaged at work.

Employers will have a greater stake in promoting the education of their workers, and in demanding more affordable, efficient options than have traditionally been offered by legacy institutions. Their influence will be backed by a captive audience of consumers, whose employment necessitates continuing education, with varying levels of employer financial support.

As employers and educators blur together, schools will increasingly invest in ensuring students are capable of succeeding, prepared to advance, and retaining what they learn. In this way, skyrocketing costs will be tempered by an increase in measurable, demonstrable value.

Certification and accreditation will need to be expedited, and employers may have a role to play here as well. Graduates emerging with skills, knowledge, and capabilities valued by employers will prove the merits of programs with or without any association with brand-name universities.

Experience will still be an asset, but only insofar as it informs ongoing learning and development, rather than a barrier to disruptive change. As employers shift from treating years of experience, to demonstrated skills and knowledge as a key worker asset, so too will educators and institutions have to shift away from time-based delivery and assessment models, to outcome-based systems.

Special Delivery

The idea that a modern university can still get by using archaic methods is on its deathbed.

Personalized learning methods and technology will cater to learning needs and styles, rather than old delivery systems that require physically sitting and listen to lectures. Consigned to irrelevance are the credit hours of yesteryear, the high-stakes end-of-year exams. In their place will be responsive, computer-administered tests, smart assessments that influence the learning process by gathering and disseminating data on retention, comprehension, engagement, and student confidence.

Gone also will be the predominance of on-campus instruction, and the costs and contrivances associated with on-campus/dormitory housing. Student-professionals will telecommute from their homes and offices, attend up-training seminars at work and from remote venues, and generally take charge of their own learning environments, schedules, and social networks.

On-demand education will displace the ancient, agrarian schedules with their harsh application and enrollment deadlines. When working and learning occur side by side, ongoing and fluid delivery platforms and course structures will become the norm—and will attract greater consumer support.

In short, universities, startups, and individuals will all have a part to play in delivering instruction—provided they get on board with the coming transformations, and the opportunities they provide. Economics will provide the demand, technology will provide the platform, and everyone will be life-long learners.


Picture by Leonardo Aguiar via Flickr

MEP #075 with Michael Staton, Partner at Learn Capital

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MEP 075 Michael Staton Learn Capital

In this episode of MEP, I had the chance to talk to Michael Staton, Partner at Learn Capital, and our conversation centered on the current educational landscape, where educational technology fits, and how it should fit.

Guest Bio:

Michael Staton is a Partner at Learn Capital. He is the founder and former CEO of Inigral, the pioneer of Social Enrollment Management technology in Higher Education and the first Lifecycle Engagement Platform. For Inigral, Michael secured the first ever venture investment from the Gates Foundation into a private company. Because of his years as a public school teacher and his intuitive understanding of K12 education, Michael served as a Venture Partner and still serves as a Community Advisor to NewSchools Venture Fund’s EdTech Portfolio. Michael was declared a top one hundred innovator by the Chronicle of Higher Education, and he is on the advisory board of SxSW EDU, the ASU Education Innovation Summit, and the Higher Education Working Group of the American Enterprise Institute and the New America Foundation.

Show Notes:

02:06 Michael’s background

07:04 What really gets you excited now about the different models of technologies that you’re investing in or looking at?

10:30 What I love about what you guys are doing is that you’re not constrained by specific pieces of the industry. Because the industry really is anybody interested in learning, whether that’s in a traditional school setting or an alternative school setting or different model, or just sitting around the house roaming the internet for information.

16:23 There’s an article about overall investment in education technology, it’s over $2 billion now. What are your thoughts overall with the current situation on education technology, and whether or not it’s a good or bad thing that there’s so much money pouring into it?

21:37 Where do you think it will be in a couple of years?  Do you think that number will double? Do you think we’ll start to see some of these data coming to fruition that a lot of these companies are making an impact?

26:09 What’s the book that has most influenced you and why?

Out of Poverty by Paul Polak

Influence: the Psychology of Persuasion by Robert Cialdini

28:45 Do you watch documentaries? And if so, do you have a favorite?

The Commanding Heights

31:23 If you could have dinner with one person you admire, past or present, who would it be and why?

John Doerr, Partner at Kleiner Perkins

Links:

Twitter: Michael Staton: https://twitter.com/mpstaton Learn Capital: https://twitter.com/LearnCap

Website: http://learncapital.com Blog: http://edumorphology.com/

Email: michael@learncapital.com

EDBRIEF: Cengage integrates Chegg Tutors to Digital Calculus Materials

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Cengage Chegg Tutors EDBRIEF 09 2015 EDUKWEST

Cengage Learning partnered with Chegg to directly integrate Chegg Tutors into its digital calculus materials.

Through the partnership students will get direct access to live online sessions from qualified tutors.

The first hour will be offered for free, subsequent tutoring time will be billed at the standard rate starting at 50¢/minute.

Chegg Tutors is based on the assets of InstaEDU, an edtech startup Chegg acquired in June 2014 for $30 million.

Further Reading

Chegg To Deliver High Quality, Low Cost Live Tutoring For Cengage Learning's Leading Calculus Materials | PRNewswire


EDBRIEF: EnglishCentral acquires Langrich

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EnglishCentral Langrich EDBRIEF 09 2015 EDUKWEST

EnglishCentral, a video learning provider in the ESL space, acquired Japanese English tutoring company Langrich.

Through the acquisition EnglishCentral will add live tutoring to its library of 10.000 video lessons and 50 online courses. The company claims to have over 100.000 paying users in over 100 countries.

EnglishCentral Acquires Leading Online English Tutoring Company Langrich

SEPTEMBER 10, 2015

ARLINGTON, MA – September 10, 2015 –  EnglishCentral, the leading provider of online English conversation solutions, today announced that it has entered into an agreement to acquire Langrich, a leading online English tutoring company in Japan.   Under the terms of the deal, Langrich’s shareholders —  KLAB Ventures, a leading gaming company in Japan, and Hitomedia, an educational incubator in Japan —  exchanged shares in Langrich for shares in EnglishCentral.  The combination of EnglishCentral and Langrich creates the first English learning platform that fully integrates interactive video learning with 1:1 online tutoring to guarantee results for English as a Second Language (ESL) students.

The latest research still shows that the fastest path to spoken English fluency is with one-to-one tutoring.  With this acquisition, EnglishCentral now fully integrates online, 1:1 tutoring into its platform, allowing learners to schedule a lesson on any one of EnglishCentral’s 10,000 videos lessons, or 50 online courses, including those from dozens of English language learning publishers such as Cambridge University Press.   This new solution offers learners the widest array of online courses with interactive video content and live teachers anywhere online.  EnglishCentral currently provides its learning platform, which includes its proprietary Intellispeech℠ speech assessment system, to over 100,000 paying users each month in over 100 countries, and over 400 universities.

“The combination of our unique speech technology and video learning platform has made EnglishCentral one of the most widely adopted self-learning English learning tools online,” said Alan Schwartz, Founder & CEO of EnglishCentral. “Now with the integration of live tutoring into our platform, learners will have the most complete online English learning solution available in the market for both mobile and web that also can guarantee results for learners.”

Offering Full Money Back Guarantee

EnglishCentral is also announcing a full money back guarantee program for learners who follow their Platinum program.  Learners “Watch, Learn and Speak” one short video per day and then GoLive! with a 1:1 online lesson with a tutor.   A first of its kind in the ESL market, EnglishCentral’s100% Commit Guarantee ensures that learners who follow this program will “Level Up” in 3 months, or EnglishCentral will provide a full refund.  This guarantee can be executed on using third party assessments tests such as TOEIC℠ Speaking or OPIC test.   EnglishCentral believes it is the only English learning company that is guaranteeing a 100% money-back refund if learners don’t level up as measured by third party proficiency tests.

………………………………………….

About EnglishCentral

EnglishCentral turns popular web videos into powerful language learning experiences for both self-study and one-on-one tutoring,  providing a complete platform for practicing English conversation online. EnglishCentral has been adopted in over 400 universities worldwide and has partnered with the world’s largest private and online English language schools, including Open English in Latin America, UOL in Brazil, NTT Learning in Japan, and Meten in China.  The company is backed by investors including Google Ventures, NTT DoCoMo Ventures, and SK Telecom Ventures. For more information, visit  www.englishcentral.com,  friend us on Facebook/EnglishCentral or follow us on Twitter at@EnglishCentral1.

EDBRIEF: Duolingo and Uber partner to Certify Drivers

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Duolingo Uber EDBRIEF 09 2015 EDUKWEST

Language learning startup Duolingo and Uber announced a partnership, certifying drivers in Columbia in English. UberENGLISH will give users of the service the option to choose a certified English speaking driver.

According to the companies, over 1000 Uber drivers have already applied to take the test which will also enable them to charge more money for their rides. Uber plans to launch UberENGLISH in other major cities across Latin America later this year and has agreed to cover the cost for the certification.

Duolingo also launched a free “quick test” version of its paid test center. The main difference to the $20 certificate that aims to replace more expensive exams like the TOEFL is that the free version is not remotely verified by a human.

Last year ESL startup Voxy offered free English lessons to cab drivers in Brazil in order to prepare them for the World Cup.

Duolingo recently raised a $45 million Series D led by Google Capital with participation from existing investors.

Further Reading

MEP #077 with Dan Cogan-Drew, Co-Founder and CPO of Newsela

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MEP 077 Dan Cogan-Drew Newsela Meet Education Project EDUKWEST

In this episode of Meet Education Project, Dan Cogan-Drew shares some early life experiences that have influenced his work in the field of education. He also talks about the company he co-founded, Newsela, an education technology start-up that delivers written news to readers in K-12 classrooms.

Guest Bio:

Dan brings twenty years of professional experience spent working towards a more perfect union of education and technology.

Most recently, Dan was the founding Director of Digital Learning at Achievement First Public Charter Schools, where he spearheaded the integration of digital learning technologies across twenty-two schools, including flipped classrooms, mobile learning, and 1:1 computing. He was also a founding member of the Gates Foundation Next Generation Community of Practice, traveling the country to visit sites of innovation and reviewing dozens of software products across K–12 math and literacy.

Prior to this, Dan was Director of Programs at the Connecticut Career Choices Program, where he developed blended high school STEM programs and co-authored one of the highest rated applications to the Race to the Top I3 grant program. Before that he taught and developed federally funded professional development programs in the Graduate Department of Education at Tufts University. Dan also rode the dot-com boom as a content producer at Fact City, a search engine startup.

He began his education career in Teach for America in Wrightsville, GA, and went on to teach in public and private schools, as well as in the US Navy. He holds a B.A. in English and Spanish from Wesleyan University, an M.A. in English Literature from Brown University, and an M.A. in Educational Studies from Tufts University.

Dan is a longtime youth and college coach and two-time world champion ultimate Frisbee player (1999 and 2000) with the legendary Boston club team Death or Glory. He and his wife are raising two Newsela readers in New Haven, Connecticut.

Show Notes:

01:58 Dan’s background

03:16 I’m sure that your upbringing and what you’ve gone through and the experiences that you had have had a huge impact on your success at all those different levels.

05:27 So you yourself struggled with some literacy issues early on

06:00 What was the different way that you started to go go about it in graduate school?

10:33 I’d like to get into the company. What was the genesis for the company and the product that you’ve been developing?

14:44 You had to level the content at five different levels. How do you go about doing that? What’s the software that you developed that does that sort of work?

17:52 As a student progresses through Newsela and whatever content that they’re reading, how do the teacher and student know when they are able to move to the next level? Is there something adaptive that says the student is now ready based on how they’ve comprehended the existing level?

20:21 Right, and the kids start challenging themselves, and engage with the content.

21:27 Do you see applications in the future for fiction content, not just non-fiction?

23:13 Most achievers have a really close relationship to failure. Can you let the audience in on a failure that you’ve experienced and how you and the company have been able to grow from it?

26:33 What is the book that’s most influenced you and why?

Count of Monte Cristo

Inner Game of Tennis by Timothy Gallwey

28:07 Do you watch documentaries, and if you do, what’s your favorite? Favorite movie?

Good Will Hunting

29:21 If you could have dinner with someone you admire, past or present, who would it be and why?

3rd grade teacher Tom Doran

Links:


Meet Education ProjectFor more episodes featuring thought leaders in education visit MeetEducationProject.com, subscribe to the podcast on iTunes and follow Nick DiNardo on Twitter.


LearnZillion raises $13 million Series B

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LearnZillion Series B FUNDED 09 2015 EDUKWEST

LearnZillion, a cloud-based Common Core-aligned curricular software, raised a $13 million Series B lead by DCM Ventures and Owl Ventures. This round brings the total raised to around $23 million.

Founded in 2011, LearnZillion currently offers curricula for English and math which are used by over 900.000 teachers in the United States.

WASHINGTON – Today, LearnZillion announced it has received a new investment of $13 million from 13 investors – including DCM Ventures and Owl Ventures – to grow its free cloud-based curricular software that is already being used by one in four K-12 teachers nationally. The site already offers Common Core-aligned math and English curriculum authored by educators currently teaching in classrooms across the U.S. With this investment, LearnZillion will grow its curriculum offerings, providing an innovative, digital alternative to traditional textbooks.

“We are extremely excited and grateful for the support we’ve received from our investors, as well as our growing community of teachers,” says Eric Westendorf, co-founder and CEO of LearnZillion. “As a company, our goal has always been to offer teachers in district, charter or private schools a better way to meet the needs of their students while building their own capacity. The days of expensive, quickly out-of-date textbooks are numbered. This investment shows we are on the right track and empowers us to go further.”

Founded in 2011 after winning a Next Generation Learning Challenges grant, funded by the Bill & Melinda Gates Foundation and the William & Flora Hewlett Foundation, LearnZillion was inspired by Westendorf’s tenure as the principal at E.L. Haynes Public Charter School in Washington, D.C. LearnZillion’s curricula is authored by a Dream Team of more than 200 practicing teachers and curriculum experts from various district, public charter and private K-12 institutions in 42 states. Over the last five years, with additional financial support from investors – including NewSchools Venture Fund and Emerson Investment Management – the software has experienced steady growth.

Today, a quarter of the nation’s teachers – representing 15,000 schools and 2,000 districts in all 50 states – use LearnZillion’s curriculum and software to support the development of student instruction. LearnZillion welcomes more than 1 million unique monthly visitors.

“As an investor in many companies using technology to disrupt the status quo, I am impressed by LearnZillion’s approach to bringing teachers in different communities together to create a comprehensive curriculum that is available to all,” says DCM Ventures general partner Peter Moran. “LearnZillion is breaking through barriers that have kept teachers in silos for far too long. I am excited to work with Eric and his team as they scale their impact on millions of educators around the world.”

LearnZillion’s work to offer new and innovative software that provides open, core curriculum authored by teachers also piqued the interest of new investors including Owl Ventures and Omidyar Network.

“The traditional textbook model used in classrooms places limitations on teachers. LearnZillion provides educators with an alternative that allows them to apply innovation to instruction, student assessment and professional development,” said Tory Patterson, Owl Ventures co-founder and partner. “New technological advancements are allowing us to be more efficient and effective in most aspects of our daily lives. This ingenuity has the potential to dramatically improve school systems and the way we educate our children. LearnZillion is pioneering a new approach to supporting teachers and districts that has never before been available.”

Nicholas Pyzik, an Elementary Math Intervention teacher at Tuscarora Elementary School in Frederick, Maryland, is among the 900,000 teachers using LearnZillion’s software. A member of the LearnZillion teacher community since 2011, and part of the 2014 and 2015 Dream Team of teacher-content creators, Nicholas collaborated with LearnZillion peers to author the LearnZillion’s new K-8 math curriculum.

“Since using LearnZillion lessons I have seen tremendous engagement from my students. The content and material that LearnZillion provides is rigorous but allows entry points for all learners. The conceptual approach allows students to build an understanding of math concepts that I have not seen with other mathematics materials,” said Nicholas Pyzik.

“Being a part of the LearnZillion Dream Team has been one of the most rewarding experiences of my teaching career. Being able to collaborate and work alongside such other passionate educators has inspired me to approach teaching many different ways to get the most out of my students,” Pyzik added. “Working with LearnZillion and the Dream Team community has inspired me to scale my impact. I am building a curriculum that is literally touching millions of student lives.”

Read more here about the rise of open curriculum and about LearnZillion’s approach to building an open curriculum by tapping into the expertise of top teachers around the U.S.

About LearnZillion:

LearnZillion is the world’s first open, cloud-based curriculum solution. Authored by the nation’s top teachers and used by more than 900,000 teachers in all 50 states, LearnZillion helps teachers, schools, and districts improve instruction and respond to the specific needs of their students.

via PE Hub

FUNDED: LearnUp raises $8 million Series A

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LearnUp Series A FUNDED 09 2015 EDUKWEST

LearnUp, a startup that prepares applicants with job-specific online training, raised a $8 million Series A led  by New Enterprise Associates (NEA) and Shasta Ventures, with participation from Greylock Partners, Floodgate and High Line Venture Partners.

Founded in 2012 LearnUp partnered with companies like Gap Inc., Sprint, Staples, Dick's Sporting Goods, the Fresh Market and AT&T to streamline their hiring operations.

SAN FRANCISCO, Sept. 16, 2015 /PRNewswire/ -- LearnUp, an innovative technology company that is tackling America's skills gap, announced today that it has finalized $8 million in Series A financing co-led by venture capital firms New Enterprise Associates (NEA) and Shasta Ventures, with participation from Greylock Partners, Floodgate, and High Line Venture Partners. The new funding will be used to expand LearnUp's products and partnerships across industries, including retail, call centers, hospitality, food service and more.

"LearnUp is leading a movement to empower America's frontline workforce by providing free online job-specific training, interview preparation and job coaching — all of which are linked to actual open jobs," said Alexis Ringwald, CEO and Co-founder of LearnUp.

"Our greater vision is to build a platform that trains and advances entry-level workers throughout their careers. If we truly want to address economic empowerment and inequality in America, we must provide the training, coaching and encouragement needed to get entry-level jobs and more advanced positions. LearnUp aims to provide a path for upward mobility to millions of job seekers."

Facts & Figures

  • LearnUp was founded after the team spent six months in the unemployment lines researching the entry-level skills gap and job market
  • Applicants who use LearnUp before they interview triple their chances of getting hired
  • 73% of U.S. jobs require less than a college degree, and yet 65% of major employers struggle to find and hire qualified applicants for entry level jobs1
  • Employers who hire through LearnUp benefit from:
    • a 200% increase in hiring efficiency,
    • a 78% improvement in new hire performance, and
    • up to 30% reduction in turnover.

LearnUp has partnered with leading employers like Old Navy, AT&T, The Fresh Market, Dick's Sporting Goods, and Sprint to prepare job applicants for their roles. "LearnUp's innovative technology and approach enables us to recruit qualified, retail-ready employees at scale while dramatically improving our hiring efficiency," said Leslie Anderson, Senior Director of HR for Old Navy. "This year alone, we're using LearnUp to empower more than 200,000 people with the skills needed for success in a retail environment."

"LearnUp has made incredible progress since they were founded, and is addressing a major unmet market need with its revolutionary approach and technology," said Ravi Mohan, Managing Director at Shasta Ventures. "We're excited to support the growth of this uplifting and innovative enterprise, whose solution drives economic empowerment and opportunity."

"The measurable impact of LearnUp's approach — on both job seekers and employers — is inspiring and unprecedented in the industry," said Sheel Tyle, Principal at NEA. "Alexis and her team have created a system that empowers individuals with the relevant skills and information needed to begin or advance their own careers. We are thrilled to be a part of LearnUp's movement to make a real impact on this pressing issue facing today's front-line workforce — the original backbone of America."

1Sources: U.S. DOL 2014; McKinsey 2012 Education to Employment Survey

About LearnUp

Founded in 2012, LearnUp empowers job applicants to get hired through the use of innovative job-specific online training and interview coaching. LearnUp was named 2015 Technology Pioneer by the World Economic Forum. LearnUp is partnering with innovative employers such as Gap Inc., Sprint, Staples, Dick's Sporting Goods, the Fresh Market and AT&T to streamline hiring operations and deliver an ROI while advancing the nation's workforce. For more information, please visit www.learnup.com.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in committed capital, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions since its founding in 1977. In the U.S., NEA has offices in Menlo Park, CA; Boston, MA; New York, NY; Chicago, IL; and the Washington, D.C. metropolitan area. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.

About Shasta Ventures

Shasta Ventures is a boutique, early-stage venture firm investing its fourth fund in consumer technology and enterprise startups. Shasta aims to partner with bold, creative entrepreneurs who have exceptional instincts and insights into the needs, desires and behaviors of the people who use their products. The firm is based in Menlo Park and San Francisco, California. Shasta Ventures has supported the founders of dozens of successful companies, including: Anaplan, Apptio, Crittercism, Lithium, Mint, Nest, Nextdoor, Turn, Zenprise and Zuora. For more information, please visit www.shastaventures.com, or follow on Twitter at @shasta.

SOURCE LearnUp

RELATED LINKS

http://www.learnup.com

MEP #086 with Michael Horn, Co-Founder at Clayton Christensen Institute

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MEP 086 Michael Horn Clayton Christensen Institute Meet Education Project EDUKWEST

In this episode of MEP, Michael Horn, the co-founder of the Clayton Christensen Institute and the executive director of its education program, shares his thoughts on the definition of blended learning, and some successful implementations and designs at schools around the country.

Guest Bio:

Michael Horn is a co-founder of the Clayton Christensen Institute and serves as the executive director of its education program. He leads a team that educates policymakers and community leaders on the power of disruptive innovation in the K-12 and higher education spheres through its research. His team aims to transform monolithic, factory-model education systems into student-centered designs that educate every student successfully and enable each to realize his or her fullest potential.

Michael is the coauthor of the recently published book Blended: Using Disruptive Innovation to Improve Schools, with Heather Staker. Blended is a practical field guide for designing and implementing blended learning in K-12 schools. The book is the followup to the award-winning Disrupting Class: How Disruptive Innovation Will Change the Way the World Learns, which Michael co-authored in 2008 with Harvard Business School Professor Clayton M. Christensen and Curtis W. Johnson. Newsweek cited the book 14th on its list of “Fifty Books for Our Times.” Michael has written several white papers about blended learning and is co-editor with Frederick Hess of the book Private Enterprise and Public Education. He has also written articles for numerous publications including Forbes, The Washington Post, The Economist, The Huffington Post, and Education Week.

He testifies regularly at state legislative sessions and is a frequent keynote speaker at education conferences and planning sessions around the U.S. Tech & Learning magazine named him to its list of the 100 most important people in the creation and advancement of the use of technology in education. Michael was also selected as a 2014 Eisenhower Fellow to study innovation in education in Vietnam and Korea.

In addition, he serves on a variety of boards, including Fidelis Education and the Silicon Schools Fund. Michael is also an executive editor of Education Next, a journal of opinion and research about education policy, and is a member of the Education Innovation Advisory Board at Arizona State University and the advisory committee for The Hechinger Institute on Education and the Media at Teachers College, Columbia University. Michael holds a BA in History from Yale University and an MBA from the Harvard Business School.

Show Notes:

(02:34) Michael’s background

(05:06) From the time you wrote the book “Disrupting Class” to now, when you wrote the book “Blended,” what sort of progress have you seen, and what sort of failures or shortfalls have you seen as far as your expectations over the last 6 years?

(09:16) In the past six to twelve months, any school that stands out as far as their implementation of blended learning?

(09:34) “You learn so much from failure. The key is to make it small failures, not these big ones that catastrophically screw up your project.”

(11:50) It seems The majority of district schools that the organizations are risk-averse because that’s the way that everything is kind of focused. Would you say that’s true? Does that hamstring us in making sure that blended learning is a big part of innovation in schools? How can we move forward in the next five to ten years?

(15:16) What happens when innovation is blocked? Do you see other models pop up that can compete against it? Is there anything that would happen that would be able to compete and actually provide quality education for low-income kids in the United States?

(19:23) In higher education, I’ve seen so many interesting models pop up. I’m fascinated by competency-based education and how it could apply to K-12 public schools or K-12 in general. Are you seeing some success in that sort of model?

(21:52) I know that Clayton has talked about how many universities will go out of business over the next 5, 10, 12 years. After what happened last year with the City College of San Francisco… Do you feel that that’s going to happen where you have these schools that are not offering value to their students or they’re not running a business as effectively, they get bailed out because there’s too much to lose?

(25:36) I got into a conversation with someone about a month ago at a conference and it was about the term blended learning and whether or not it may just eventually be just become learning. Do you think the phrase may just go away as a kind of transitory phase and eventually will be just what learning is or do think there will always be a niche for the modality of blended learning?

(28:52) Is there a book that’s most influenced you, and why?

The Innovator’s Solution by Clayton Christensen

Phil Jackson’s Sacred Hoops: Spiritual Lessons of a Hardwood Warrior

(30:03) Do you watch documentaries, and if so, what is your favorite?

30 for 30 series on ESPN

Ken Burns’ Civil War

(31:49) If you could have dinner with one person you admire past or present, who would it be and why?

Abraham Lincoln

Links:

Twitter:

Michael Horn

Christensen Institute

Christensen Institute website: http://www.christenseninstitute.org/

Book:

Blended: Using Disruptive Innovation to Improve Schools

Chalkup – EdTech Startup Profile

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Chalkup EdTech Startup Profile EDUKWEST

Name: Chalkup Website: www.chalkup.com Headquarters: New York, USA Vertical: K-12, Higher Education Tech: Web App, Mobile App

Introduce your startup and give a short description of what you are doing.

While you might have historically called programs like Chalkup a learning management system, we’re really interested in changing that. We think of ourselves as a class collaboration platform.

We do everything a learning management system can, but with a gorgeous, user-friendly interface that is optimized for keeping classes in touch and sharing resources. Beyond being ridiculously easy-to-use, Chalkup integrates seamlessly with Google Drive.

Who are the founders, how did you meet, what are your different roles in the startup.

Justin Chando and Tim Costa met during undergrad at Lafayette College in Easton, PA.

Justin currently serves as the CEO and Tim as the CTO of Chalkup.

How was the idea for your startup born?

When Justin Chando and Tim Costa were in college, they were introduced to one of the most widely-used LMSes in the country to receive and submit assignments. And it was not awesome.

Besides being massively difficult to use, this LMS did very little to connect classmates and share resources. Discussion threads were empty; using the system was a formality, if it was used at all.

Following their frustrating edtech experience in college, Justin and Tim gathered a group of equally-frustrated friends and got to work.

The idea was to create the LMS their classrooms deserved. The system was built from scratch, and the team engineered solutions from the library basement and dorm rooms. Connection and collaboration were put at the forefront, and the team built a system that was ridiculously easy to use.

Just one year later - after graduation - Chalkup was launched.

What is the main problem in education that you aim to solve.

Besides being massively difficult to use, the modern LMS does little to connect classmates and share resources effectively. We seek to fill that void.

Above all else, Chalkup is built for collaboration, not to “manage learning.”

Further, we believe that classroom tech is not just about schools going 1:1 and getting devices to replace paper-based processes, but instead how we shift classroom culture to do more with tech. No technology for the sake of technology. We aim to build tools that allow instructors to stay in touch with their classes and make real connections after the bell rings.

Who are your main competitors? What sets you apart from them?

We understand that even though we believe we’ve built something fundamentally different than the modern learning management system, we’re competing against all the other LMSes in both K-12 and higher ed environments.

Chalkup aims to be the most intuitive tool - and the most powerful.

In which markets / regions are you active. What markets / regions are next.

Chalkup is most active in K-12 schools in the U.S.

We're excited about the fantastic opportunities that have come our way in higher ed, and we look forward to doing more with our higher ed users. The product was piloted in a college environment and is a great fit.

Who is your target audience.

Our core customers are data-driven schools that value staying connected and using technology to spark collaboration between students.

We’re working with teachers and administrators who know the conversation doesn’t stop when a class is dismissed.

How do you engage with your target audience. How do you convert them into users of your product.

We love being members of the edtech community. We engage with our target audience on social media every day and put a lot of effort into producing interesting edtech content.

The product was piloted with real classes, and we continue to engage with our users through surveys and interviews about how we're doing and what could be better.

Our product is free to use for teachers and students - that's something we love about our model. It's allowed anyone who is interested in Chalkup to give it a try.

How many users / downloads does your service have?

Chalkup currently has over 50,000 users.

What is your business model. How much does your product / service cost.

Our product is free to use for teachers and students.

Schools that upgrade to Chalkup Pro (https://www.chalkup.co/pro) - our enterprise platform - pay per student, per year.

Are there milestones you are especially proud of and would like to share.

We recently launched the latest and greatest version of our app for iOS (http://blog.chalkup.co/download-chalkup-app-for-ios).

We're especially proud of the positive response and can't wait to release our app for Android.

What are the next steps in growing your startup.

We're thrilled to be hiring right now. As our team grows, we look forward to improving Chalkup, releasing our app for Android, and pursuing thoughtful and creative integrations with our platform, all based on our user's feedback.

Further, we can't wait to work more with our higher ed users and grow our presence on college campuses.

How can people get in touch with you.

Twitter - @chalkupedu | https://twitter.com/chalkupedu Facebook - https://www.facebook.com/chalkupedu Pinterest - https://www.pinterest.com/chalkupedu/

Contact - http://support.chalkup.co/hc/en-us/requests/new

Room for anything else you would like to add.

We’re optimizing for connection and collaboration, and we’re making a beautiful user experience along the way.

Powerful tools don’t need to be ugly tools. We’re putting the care and thoughtfulness behind designing a user experience that works for students and teachers (not just one or the other).


EDBRIEF: Udacity launches in India

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Udacity India EDBRIEF 09 2015 EDUKWEST

Udacity officially launched in India, partnering with Google and Tata Trusts. According to the company, India is the second biggest market for its career focused online courses and so called Nanodegrees.

India has the second largest developer population on the globe with an estimated 3 million software developers. Udacity thinks that the country could gain the top spot by 2018. Through the partnership with Google and Tata Trusts, Udacity is offering 1000 scholarships for the Android Developer Nanodegree.

Udacity will offer its courses for Rs. 9,800 per month. Students who successfully complete a Nanodegree get a 50% refund on the tuition upon graduation.

The company plans to further expand operations in the country through hiring a local team and partnering with more companies over the coming months.

Link

udacity.com/india

EDBRIEF: Applications open to EDUGILD – India’s first EdTech Accelerator

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Eduguild India EDBRIEF 09 2015 EDUKWEST

Pune-based MIT Group of Institutions announced the launch of its edtech accelerator program EDUGILD. The accelerator will invest Rs 1,500,000 ($22,300) in return for equity.

The EDUGILD accelerator is open to early stage edtech startups who have completed initial research and ideally have a working prototype or first customers of their product. EDUGILD offers a 16 week in residence mentorship program in Pune besides the seed investment.

The accelerator program ends with a demo day where the startups pitch their products to selected investors.

Rishi Kapal, CEO of EDUGILD, told the Financial Chronicle that the team plans accelerate up to 100 edtech startups in the next three to four years.

Applications for the first cohort which starts in January 2016 are open.

Link

edugild.com

FUNDED: MasteryConnect raises $5 million Series B Extension

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MasteryConnect Series B2 FUNDED 09 2015 EDUKWEST

MasteryConnect, a data analytics platform for the K-12 space, raised an additional $5 million in an extension of its $15.2 million Series B round one year ago. The new investment comes from Facebook Founder and CEO Mark Zuckerberg and his wife Priscilla Chan.

Founded in 2009, MasteryConnect is currently used in 85 percent of U.S. school districts across all states and in more than 170 countries, reaching 2 million teachers.

MasteryConnect Announces $5 Million in New Funding

Investment from Mark Zuckerberg and Priscilla Chan to support continued development of the Company’s mastery-based platform

SALT LAKE CITY--(BUSINESS WIRE)--Education technology leader MasteryConnect today announced that it has secured $5 million in funding from Facebook founder and CEO Mark Zuckerberg and his wife, Priscilla Chan. This additional investment is an extension of the company’s $15.2 million Series B round, bringing MasteryConnect's total private funding to $29 million. The company will use this additional funding to accommodate and facilitate its rapid growth and increase the reach of its competency-based learning platform.

“MasteryConnect is establishing itself as a leader in competency-based education solutions and we’re excited to use this funding to further invest in the development of our platform and to continue providing these solutions to educators.”

MasteryConnect is a leader in competency-based learning solutions and creates technology tools that help teachers plan, teach, and measure student progress to improve learning outcomes. The company has experienced exponential growth in the last year, with its technology currently being utilized in 85 percent of U.S. school districts across all states and in more than 170 countries, reaching 2 million teachers. To meet growing demand, MasteryConnect has more than tripled its employee base, expanding from 35 employees in March 2014 to more than 140 today.

“As a principal, I’ve seen how personalized learning helps engage students on a fundamentally individual level and inspire them to reach their potential,” said D’Andre Weaver at Gwendolyn Brooks Preparatory Academy in Chicago. “It can seem difficult and overwhelming for us as educators to personalize education to each individual student in the classroom. But MasteryConnect provides my teachers the tools to do it easily and efficiently, allowing us to provide students with the academic and life skills they will need in college and beyond.”

The demand for competency-based learning tools is at an all-time high. MasteryConnect is a market leader in curriculum, assessment and mastery learning tools for K-12 and provides educators with the solution they need to implement a competency-based learning strategy striving to bridge the gap between students’ thirst for personalized learning and educators’ ability to fill that need.

“We’re grateful for the support of prominent innovators like Mark and Priscilla. The impact of teachers personalizing learning for students is immediate and life changing,” said MasteryConnect CEO Cory Reid. “MasteryConnect is establishing itself as a leader in competency-based education solutions and we’re excited to use this funding to further invest in the development of our platform and to continue providing these solutions to educators.”

In addition to this most recent funding from Zuckerberg and Chan, MasteryConnect is backed by top-tier firm Trinity Ventures, as well as Pelion Ventures, Catamount Ventures, and the Michael and Susan Dell Foundation.

About MasteryConnect

MasteryConnect is the market leader in competency-based learning for K-12. MasteryConnect helps teachers in the trenches identify student levels of understanding in real time against any set of standards in order to personalize learning and improve outcomes. MasteryConnect supports teachers via its cloud-based platform, including Socrative.com, as well as through numerous apps on all web-enabled devices. MasteryConnect is headquartered in Salt Lake City, Utah. For more information, visit MasteryConnect.com.

Contacts

Method Communications

Roger Johnson, 801.461.9781

roger@methodcommunications.com

FUNDED: MathCrunch receives Investment from StartX

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MathCrunch StartX FUNDED 09 2015 EDUKWEST

MathCrunch, a San Francisco-based edtech startup that offers on-demand math tutoring via mobile devices, received additional funding from from Stanford University’s StartX Fund. Along with the investment comes the launch of a subscription model for students who need regular tutoring sessions.

Founded in 2014, MathCrunch surpassed 100,000 student sign‐ups and completed over 200,000 successful math-tutoring sessions.

Stanford University’s StartX Fund Backs MathCrunch, Mobile EdTech Company Providing Students with One-on-One On-Demand Math Tutoring, To Support Further Platform Development

New funding to support further development of tutoring platform, flexible subscription model and mark-up tool designed to empower students with the skills and confidence necessary to succeed

SAN FRANCISCO, Sept. 22, 2015 -- MathCrunch, the on-demand mobile tutoring company, today announced that it has received funding from Stanford University’s StartX Fund. MathCrunch will use the investment to enhance the quality of tutoring sessions on its platform, add more advanced product features and grow its fleet of tutors to accommodate its rapid growth. The company is focused on helping students gain the confidence and skills they need to succeed at math by providing one‐on‐one live tutoring to students via chat on their mobile phones -- 24 hours a day, 7 days a week. In its first year alone, MathCrunch surpassed 100,000 student sign‐ups and completed over 200,000 successful math-tutoring sessions.

"We are very excited to announce our investment in MathCrunch. Over the last few months with StartX, MathCrunch has grown from a convenient service for students to an education platform that we believe will fundamentally improve the way students learn,” says Cameron Teitelman, Founder and CEO of StartX. “MathCrunch is not just building an on-demand marketplace that will disrupt the traditional tutoring industry, they are on a mission to make quality, one-on-one learning accessible, convenient, and affordable to every student. Sawiris and his team are leveraging the right technology to make that vision a reality, and that’s a vision we can stand behind."

“MathCrunch utilizes mobile chats, the preferred communication platform of today's young learners, into a service that can help them excel academically,” said Naguib Sawiris, Founder and CEO of MathCrunch. “What sets MathCrunch apart is not simply our ability to connect students faster, but also that we invest heavily in the development of our tutors, and incorporate the most effective teaching techniques to serve various learning styles and needs of our students. ”

MathCrunch is furthering its commitment to quality and educational excellence with a 360-degree tutor rating system, whereby tutors are reviewed both by students and by senior tutors who evaluate the tutors teaching performance on a nine-point system and provide in‐depth feedback. In addition, MathCrunch is introducing a new image markup feature that allows students to draw on the photo of the problem they submit. This mimics a virtual whiteboard for both students and instructors, creating for a more interactive and efficient dialogue.

MathCrunch’s new subscription model will allow its service to be even more accessible and affordable. Subscribing to MathCrunch enables students to connect to tutors faster with priority matching, and saves users as much as 33% compared to their pay-as-you-go pricing. As opposed to traditional tutoring, which can cost up to $80‐$100 per one‐hour session, MathCrunch’s subscription pricing starts at $23.99 for 60 minutes of service per month, $44.99 for 120 minutes, and $79,99 for 240 minutes. MathCrunch sessions cater to student’s limited attention spans and individual needs, with sessions lasting as short as 10 minutes and as long as 2 hours.

“Our new subscription plans make it very easy for our students and their parents to fit highly‐effective and professional math tutoring into their budget. Quality education doesn’t have to be reserved for only the affluent. We want to make one-on-one learning available to every student in the country at any time,” said Sawiris.

Unlike the traditional tutoring model, MathCrunch eliminates all scheduling hassles because students do not need to be in the same location as their tutor. Students simply snap and send photos of their math problems through the app and are connected to a highly-trained, professional tutor within minutes.

Math anxiety is a widespread problem that prevents students from understanding the material and reaching their full potential in school. MathCrunch was founded to address the serious achievement gaps that plague our educational system, especially when it comes to math, by making personalized, one‐on‐one learning available to students anywhere, anytime, via their smartphones.

The MathCrunch app is now available in the iTunes Store and Google Play.

About MathCrunch

MathCrunch is a chat based mobile tutoring company that instantly connects students to tutors on demand, 24/7. Students receive highly affordable, convenient and effective one‐on‐one tutoring from experienced math tutors without the hassle of scheduling or in‐person meeting. MathCrunch tutors receive ongoing training on best-in-class teaching methods and weekly feedback from senior tutors. Based in San Francisco, MathCrunch was founded in 2014 and is backed by Slow Ventures, Floodgate, Index Ventures, Sherpa Ventures, and Formation 8. Learn more at www.mathcrunch.com.

FUNDED: Portfolium raises $1.2 million Venture Round

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Portfolium Venture Round FUNDED 09 2015 EDUKWEST

Portfolium, a skills marketplace connecting students and employers, raised an additional $1.2 million venture round led by University Ventures, Seed San Diego and Vertical Venture Partners bringing the total the startup raised to $2.1 million.

Founded in 2013, Portfolium helps students to create digital portfolios, displaying their skills and work samples as an alternative to classic resumes.

Portfolium Raises $1.2M Venture Round to Grow the First Skills Marketplace for Students and Employers; Fuses Ed Tech with HR Tech to Transform Campus Hiring

Portfolium has raised a total of $2.1M to help employers make better matches between entry-level candidates and jobs on the basis of students' digital portfolios vs. their sparse, limited resumes. While LinkedIn has only gained traction with 13% of millennials, Portfolium has partnered directly with leading universities to drive impressive adoption by undergrads and recent grads.

SAN DIEGO, CA (PRWEB) SEPTEMBER 17, 2015

Portfolium, Inc. today announced that it has closed $1.2M in new funding led by investments from University Ventures, Seed San Diego, and Vertical Venture Partners. To date, the company has raised a total of $2.1M to scale its ePortfolio network, designed to help students showcase their potential to employers via class projects and work samples that align to professional, on-the-job requirements.

“We believe Portfolium has a massive opportunity to establish the first competency marketplace for higher education, allowing students and employers to find one another on the basis of student work, and the competencies that can be derived from that work,” said Ryan Craig, Managing Director of University Ventures. “Better ‘matching’ has the potential to have far-reaching effects for universities, employers, students and overall labor market productivity.”

Re-imagining Campus Recruiting - An Inefficient, Underserved Market

Companies in the US spend $19B annually on campus recruiting programs. These costs are driven by a cumbersome process of matching students to jobs, which includes an average of 38.7 days spent finding and filtering resumes to determine who is worth interviewing, followed by subsequent rounds of interviews and assessments, according to a report by NACE. Portfolium accelerates the hiring process significantly by helping companies quickly connect with a short list of students who can offer a true preview of their capabilities. Such a solution isn’t possible via LinkedIn.com, which has only seen traction with 13% of millennials.

“There is no LinkedIn for college students,” says Jennifer O’Brien, Head of Global Talent Attraction and former campus recruiting lead at IBM. “Recruiters have no single hub from which to find the best student talent. And students’ resumes have never been a good indicator of anything outside of GPA.”

To connect directly with employers, Portfolium today has also announced that it has partnered with eQuest. eQuest provides domestic and international job posting delivery to thousands of customers worldwide. With its global reach, eQuest posts jobs to any posting destination in the world, reaching over 180 countries and territories and thousands of job posting destinations worldwide.

Tapping into a Larger Trend

Technology's continuous, disruptive impact on the way people work suggests a larger, permanent trend that extends well beyond entry-level student hires.

"From now on, job descriptions will become outdated by the time they are posted. So a candidate's past work experience is becoming less relevant as a predictor of future performance," said David Schwab, Managing Director at Triton and Vertical Venture Partners.

"Assessing the adaptive potential of a candidate is the hiring challenge of our time. Portfolium is taking a big, smart swing at the challenge."

Built On A Foundation of Strong University Partnerships

“I founded Portfolium with a vision of helping universities connect their students and alumni with employers based on proven skills and competencies acquired throughout their academic journey - via both curriculum and even co-curricular activities,” said Adam Markowitz, Portfolium’s founder and CEO. “It’s been incredible to witness just how invested universities have become in driving student success, and as a result, Portfolium’s growth. We’ll be announcing a number of new, exciting partnerships with universities in the coming weeks and months.”

About Portfolium

Portfolium, a San Diego-based startup headquartered at the EvoNexus high-tech accelerator, has quickly become the partner of choice for colleges and universities looking to help students get a better start to their careers. Students from over 2,000 schools, including top engineering schools like Cal Poly and UC San Diego, are using Portfolium’s cloud-based platform to create an instant portfolio that conveys a clear picture of abilities beyond what can be displayed in a resume, transcript or LinkedIn profile. Students can get their portfolio of work on the radar of corporate recruiters by following companies, entering talent challenges, and applying directly to jobs on Portfolium’s job board.

About University Ventures

University Ventures (UV) is the only investment firm focused exclusively on the global higher education sector. UV pursues a differentiated strategy of 'innovation from within'. UV has the deepest respect for the missions and traditions of colleges and universities around the world and is confident that through innovation, these same institutions will be successful in fulfilling and expanding their missions. By partnering with top-tier universities and colleges and then strategically directing private capital to develop innovative programs of exceptional quality that address major economic and social needs, UV is setting new standards for student outcomes and advancing the development of the next generation of colleges and universities on a global scale.

About Seed San Diego

Seed San Diego (SSD) invests in passionate founders with a bold vision who need both capital and additional business insight to achieve their next milestone. Drawing on each of the Partners’ startup experience and expert mentor network, SSD contributes capital and intellectual value to measurably move each portfolio company forward.

About the Triton Technology Fund

The Triton Technology Fund (TTF) is a wholly owned subsidiary of Vertical Venture Partners (VVP). TTF invests in companies commercializing technologies being developed at UC San Diego (UCSD) or by UCSD alumni. Companies can originate in any school including, for example, Jacobs School of Engineering, Rady School of Management, Scripps Institute of Oceanography, or the Medical School. Technology areas of interest include cloud applications, analytics, social media, mobile, materials, medical devices, digital health, healthcare IT, instruments and cloud software infrastructure. Of particular interest are technologies that can be matched with a targeted vertical market.

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For media inquiries, contact: press(at)portfolium(dot)com

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