Minerva Project, a San Francisco, CA-based educational company, raised US $57m in Series C financing.
The round was led by Bytedance, with participation from existing global investors TAL Education Group (NYSE: TAL) and Yongjin Group, as well as Pinpoint Ventures, Kakao Ventures, Tan Tan Ventures, Lighthouse Combined from Korea as well as a select number of other new and existing investors.
Along with the funding, Minerva added two new Board Members:
- Zhang Yiming, Founder and CEO of Bytedance, and
- Wendy Kopp, Founder and CEO of Teach for All and Founder of Teach For America.
The company, which brought total raised to date in excess of US $128m, will use the capital to accelerate access to its learning experiences through partnerships with universities and corporations.
Founded in 2012 by Ben Nelson, Chairman and CEO, Minerva Project provides higher education offerings via the Minerva Schools at KGI and other educational partners. The Minerva Project has built an educational system that includes a scaffolded curriculum that equips students with cognitive tools and core competencies across disciplines and proven pedagogical practices, enhanced by a proprietary active learning technology. The company’s methodology is based on research on the science of learning. Minerva’s Forum has been built specifically to facilitate interaction via live video, enabling professors to conduct intensive and engaged classroom experiences for students and use tools to provide relevant feedback, ensuring progress against student learning outcomes.