Knewton, a NYC-based learning technology company, has raised $33m in a Series D funding round.
The investment was led by Founders Fund and global learning company Pearson, with participation from existing backers Accel Partners, Bessemer Venture Partners, and FirstMark Capital.
Knewton intends to use the funds to expand the adoption of its Adaptive Learning PlatformTM, which is designed to customize educational content to create a personalized learning experience for every student. The company plans to hire software engineers and data scientists, doubling its current team of 70 employees over the next 18-24 months.
Led by founder and CEO Jose Ferreira and COO David Liu, Knewton, through it patent-pending algorithms, currently power its Math Readiness for CollegeTM and Test Prep courses and is working to increase partnerships with universities, publishers and other educational organizations.