Schoology, a New York City-based provider of a learning management system (LMS) and social network that allows users to create and share academic content, closed a new $15m round of funding.
The round, which brought the total capital raised to $25m, was led by Intel Capital with participation from new investors Great Oaks Venture Capital and Great Road Holdings and existing investors FirstMark Capital and Meakem Becker Venture Capital. In conjunction with the funding, Intel Capital’s Sumeet Jain will join Schoology’s Board of Directors.
The company intends to use the funds to scale up operations, expand into new markets, and build new features.
Led by Jeremy Friedman, CEO, Schoology provides tools for instruction and curriculum management, mobile apps, access to an integrated global learning community, advanced analytics and reporting, and an open platform for third-parties to build on top of its platform.
The company now supports five million users, across 50,000 schools worldwide.
FinSMEs
24/06/2014