A Pittsburgh-based ed-tech company is celebrating its recent placement on a global list that looks to feature the world's most transformative private companies in education.
Carnegie Learning, which was born out of more than 30 years of research at Carnegie Mellon University, is among the latest entrants named to the GSV (Global Silicon Valley) 150 list from the ASU+GSV Summit, the organizers behind an annual event championing technology innovation in education and workforce skills.
ASU+GSV Summit said this year's list proved its most competitive yet given the more than 4,000 companies it analyzed before it made its final 150 company picks. It said it looked at each company's revenue scale, revenue growth, user reach, geographic diversification and margin profile to form the list. Eligibility also required that these companies not be publicly traded and that they received financial backing from venture capital or private equity investors.
"These 150 companies are at the forefront of innovation and are constantly evolving to meet the needs of learners, educators and companies around the world," the ASU+GSV Summit said in a blog post featuring all of this year's picks. "As the world navigates through change and uncertainty, these platforms are providing solutions to help improve access to quality education and support to all people around the world. We estimate that the 150 companies reach (almost) 3 billion people, or close to half of the global population, and generate approximately $25 billion in revenue."
Carnegie Learning CEO Barry Malkin expressed gratitude for having the company featured among all the other companies listed from around the world.
"It’s an honor to be recognized among such a distinguished list of companies," Malkin said in a prepared statement. "Innovation is at the heart of everything we do — from our products to our culture to our people. Not only do we embrace change, we create it. Our commitment to research, more than any other ed-tech company, and to producing world-class content and technology puts us in a unique position to really make a meaningful impact on education."
Educational offerings from Carnegie Learning include math, literacy, world languages, professional learning and "high-dosage" tutoring for those in kindergarten through high school, among others. With the use of AI, these tools are able to build on specific data points gathered during a user's session to drive the learning ability of the student.
The company employs over 700 workers in the U.S. and Canada and has raised $16 million in funding, according to figures from Crunchbase.
