If EverFi's historic funding round in April didn't convince you, D.C. is a hotbed for education technology companies. From the rise and exit of Blackboard to 2U going public to EverFi landing the third largest edtech funding round in history, the metro area is known as home to some pretty notable players in the industry.
As the school year gets started, we decided to take a look and see who the top funded edtech players are in the D.C. metro area. All information is pulled from the Crunchbase Pro database, with help from the DC Inno archives.
1. EverFi. Funding: $251M
Founded in 2008, Washington, D.C.-based EverFi is a software-as-a-service subscription that offers students from kindergarten to college a variety of courses, including online math and engineering classes and career training courses. In April, EverFi closed what is now the third largest edtech funding round in history at $190 million. The Series D round was led by The Rise Fund, which boasts backers like U2's Bono and LinkedIn's Reid Hoffman.
EverFi also closed a $40 million Series C round in July 2016, and earlier in 2017, it acquired Austin-based Workplace Answers, which provides faculty and students online training courses, such as sexual assault prevention.
2. Blackboard. Funding: $121.9M
Acquired in 2011, Blackboard made a splash in the D.C. edtech scene before taking on new ownership. Founded in 1997, the company works with schools to bring their classrooms online. Entrepreneurs such as Interfolio CEO Andrew Rosen and SocialRadar founder Michael Chasen are both Blackboard alums. Its largest funding round came in at $52 million in 2001.
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3. 2U. Funding: $95.8M
Before going public in March 2014, 2U boasted an impressive venture presence. The company, which helps higher education institutions set up and market online courses, most recently signed on the London School of Economics, Harvard University and Oxford University as clients. On July 1, 2U also acquired online course provider GetSmarter. Its largest funding round was a $32.5 million Series C raise led by Bessemer Venture Partners.
4. Quad Learning. Funding: $41.4M
Phil Bronner, a former general partner at Novak Biddle Venture Partners in Bethesda, launched Quad Learning in 2012, and since then, they've received a wealth of funding from notable investors. Before launching the startup, Bronner led investments in other edtech companies, such as 2U, Fidelis Education and UniversityNow.
5. Regent Education. Funding: $37.75M
Founded in 1979, Regent Education didn't start raising venture capital until 2006 with its $3.6 million Series A round. Regent is a software-as-a-service provider for financial aid management solutions for higher education institutions.
6. LearnZillion. Funding: $22.4M
LearnZillion builds digital curriculums for K-12 teachers, working primarily with public school districts and parents who are homeschooling. And the lesson plans are built by teachers from across the country — or what LearnZillion calls the “Dream Team.” According to Crunchbase, the company landed a $13 million funding round in September 2015.
7. Full Measure. Funding: $15.5M
D.C.-based Full Measure Education creates personalized software for students in post-secondary education, with a focus on community colleges and vocational schools. Each software solution is designed to help students prepare for a professional career post graduation. In May 2016, Full Measure raised a $6 million funding round to scale existing partnerships and make product improvements.
8. Interfolio. Funding: $14.8M
After Blackboard, co-founder Andrew Rosen found himself a new gig as the CEO of Interfolio, based in Washington. The company offers a platform that provides strategic decision-making for colleges and universities in faculty hiring, promotion, tenure and governance decisions, as well as serving as an aggregator for higher ed job candidates and employers. In January, the company acquired Lexington, Kentucky-based DATA180, an aggregator for faculty research and similar documents.
9. Planet3. Funding: $14M
Founded in 2014, D.C.-based Planet3 offers a virtual learning experience that views the entire Earth as a "virtual living laboratory." Using adventure and exploration-based games, Planet3 has crafted a creative way to teach Earth, life and physical science courses. The company's largest funding round came in September 2015 at $10 million, according to Crunchbase.
10. MPOWER Financing. Funding: $10M
Founded in 2014, MPOWER works with 223 universities across all 50 states and has received more than 4,500 applications for its $25,000 student loans. In August, the company launched a $100 million debt funding round in conjunction with a $500,000 investment from 1776's venture fund at the end of May as a part of their ongoing Series B fundraising. The equity raise is set to close by the end of the summer as previously reported by DC Inno.
