Knewton is an online learning company that offers preparation courses for standardized tests, such as the GMAT, LSAT, and SAT. The company was founded in 2008 by Jose Ferreira, a former executive at Kaplan, Inc. Based in New York City, it has raised $2.5 million in investment capital from Accel Partners, Reid Hoffman, Ron Conway, and Josh Kopelman at First Round Capital. The company was a finalist in the 2008 Amazon Web Services Start-Up Challenge.
In April 2009 Knewton closed a $6 million Series B round of funding led by Bessemer Venture Partners with returning investors.
In April 2010 Knewton closed a $12.5 million round of funding led by FirstMark Capital with returning investors.
Knewton uses adaptive learning technology to identify each student’s unique strengths and weaknesses. Concepts are tagged at very specific levels, testing students’ grasp of hundreds of skills measured by standardized tests.
Knewton plans to apply its technology to a wide range of education markets.
Financials
| Date | Type | Amount | Investors | Valuation |
|---|---|---|---|---|
| 05/01/08 | Series A | 2.5M | Arcapita Ventures, Capogee Ventures | Unknown |
| 01/01/09 | Series B | 6M | Unknown | |
| 04/01/10 | Series C | 12.5M | Unknown | |
| View more financial info about Knewton | ||||