DreamBox Learning® (www.dreambox.com),
today announced the company has closed $14.5 million in Series A1
financing. The round was led by Netflix CEO Reed Hastings, through the
Charter School Growth Fund, as well as private investments by venture
capitalists John Doerr and Deborah Quazzo, and angel contributions by
two Seattle education philanthropists. Additionally, GSV Capital Corp.
(NASDAQ: GSVC) tripled its investment in the company.
DreamBox Learning will use the recently acquired funds to invest in two
key areas: product development and scaling business operations. The
company will continue to advance development of its pioneering
Intelligent Adaptive Learning™ platform and add additional grade
coverage to its award-winning PreK-5 math product, including a middle
school intervention offering. In addition, DreamBox Learning will expand
direct sales and marketing operations and increase resources to support
its rapidly growing district-level clients.
“Recent global rankings showing that the U.S. has slipped to 26th
in math is a resounding wake-up call to schools to start leveraging the
power of Intelligent Adaptive Learning technology in the classroom,”
said Jessie Woolley-Wilson, President and CEO of DreamBox Learning. “The
ability to deliver differentiated instruction to each individual student
throughout an entire district is no longer a luxury, but a necessity if
we want to advance our students’ academic standing and remain
competitive in the global economy. The need has never been greater to
put advanced and proven technology, such as DreamBox Learning, into the
hands of our teachers and children.”
“DreamBox Learning has flawlessly executed a strategic vision to provide
every student with access to a quality education, anchored by a truly
transformative technology that has proven to be highly impactful and
scalable,” said Michael Moe, Co-Founder and Chief Investment Officer at
GSV Capital. “The company has experienced explosive growth in the past
year and GSV Capital’s investment is a clear signal that we believe
DreamBox Learning is well positioned to dominate the adaptive education
technology sector.”
The company’s DreamBox Learning Math instructional technology, available
on the PC and iOS tablets, provides the most robust personalized
learning experience on the market today. Designed to differentiate
content, pace, and sequence for the highest levels of student
achievement, DreamBox Learning Math features rigorous math curriculum in
an engaging, game-like environment that delivers an unparalleled
student-driven learning experience. The product features more than 1,300
PreK-5 interactive and adaptive lessons and virtual manipulatives
aligned with Common Core State Standards. DreamBox Learning currently
serves more than 2 million lessons per week to students in schools
across all 50 U.S. states and throughout Canada.
The DreamBox Intelligent Adaptive Learning technology uses the insight
gained from processing over one billion student data points per day to
deliver the most effective instruction to our students.
“DreamBox Learning’s adaptive technology is fueling the blended learning
movement in classrooms nationwide to help millions of students thrive in
mathematics,” said Reed Hastings. “The company’s highly talented and
committed team has achieved this objective at a record pace through
strong partnerships with principals, teachers and parents who recognize
that this innovative online learning technology is a game changer and
has the ability to catapult student progression for every child at every
learning level.”
Aimed at closing the achievement gap for all students, DreamBox Learning
has won more than 30 industry accolades. Most recently, DreamBox
Learning Math was named to District Administration’s “Readers’
Choice Top 100 Products.” Winners were chosen from more than 1,800
unique nominations sent by K-12 leaders who detailed the products’
positive impacts on their schools.
About DreamBox Learning
DreamBox
Learning was founded in 2006 in Bellevue, Washington and launched
its first online learning product in January 2009. The platform has won
more than 35 top education and technology industry awards and is in use
in all 50 states and throughout Canada. DreamBox Learning Math offers a
groundbreaking combination of Intelligent Adaptive Learning, rigorous
elementary mathematics curriculum, and motivating learning environment.
The innovative DreamBox platform captures every decision a student makes
while working in the program and adjusts the student’s learning path
appropriately, providing millions of individualized learning paths, each
one tailored to a student’s unique needs. DreamBox Learning Math is
available for PC and iPad. For more information, visit: www.dreambox.com
Copyright Business Wire 2013