K-12 Dealmaking: Online Tutoring Provider Paper Raises $270M; Taiwanese Company Wraps Up Series A
The online tutoring provider Paper raised $270 million in a Series D funding round, amid a surge in demand for academic intervention in U.S. schools.
The Montreal-based company, founded in 2014, supplies schools with the software and tutors to provide students one-on-one academic support up to 24 hours a day — a service in high demand as districts look to spend federal relief money to help students make up for the missed learning caused by the pandemic.
The funding round was led by Sapphire and Softbank Vision Fund 2, with participation from returning investors IVP, Salesforce Ventures, Framework Venture Partners, Bullpen Capital, Reach Capital, BDC Capital, and Red House Education.
The company plans to use the additional funding to partner with “more and more innovative school systems to level the playing field for all learners,” said CEO Philip Cutler in a statement.
Paper has grown to serve 2 million students across 30 states, double the number it served during its $100M Series C funding round in June 2021.
International tutoring company raises $15.5 million. Taiwan-based tutoring platform provider AmazingTalker raised $15.5 million in a Series A funding round led by CDIB Capital. The round also saw participation from JAFCO Asia and 500 Global.
AmazingTalker’s platform uses an algorithm to match students with tutors in different languages as well as other subjects, including math.
The company, launched in 2017, reported an annual growth rate of nearly 500 percent and 1.1 million registered users, according to the announcement.
The new funding will be used to expand in Southeast Asia, Japan, Korea, Europe, and North America.
“It is our goal to become the world’s largest online tutor matching platform,” said Co-founder and CEO Abner Chao in a statement.
School science provider partners with nonprofit. Carolina Biological, a provider of science teaching materials, has partnered with nonprofit OpenSciEd to create certified science lessons and lab kits for grades 6-8.
The goal of the partnership is to save teachers time by bundling lesson plans, lab material, and digital teaching resources that meet new science standards, according to the announcement.
OpenSciEd is supported by donors including the Bill and Melinda Gates Foundation, William and Flora Hewlett Foundation, Charles and Lynn Schusterman Foundation, and Carnegie Corporation of New York.
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See also:
- Demand for School Tutoring Is ‘Through the Roof.’ And Companies Are Primed for Growth
- K-12 Dealmaking: Handshake Doubles Valuation; GoStudent Makes 2 Acquisitions
- What Are the Key Factors for School Districts in Choosing Tutoring Companies?
- A Private Equity Investor’s Take on the Boom Cycle Fueling the Market