Knewton, a NYC-based provider of an adaptive learning platform, raised $42m in its latest funding.
The round, whose full size is $47.25m and is not closed yet, has been by Sofina with participation from existing investors Atomico, Accel Partners, Bessemer Venture Partners, FirstMark, and Founders Fund.
The company intends to use the funds to expand its international infrastructure and grow its technology, sales, implementation, and support teams.
Founded in 2008 and led by Jose Ferreira, Knewton provides a learning platform for teachers, schools, and education companies to offer digital course materials that dynamically adapt to each student’s unique needs. Knewton provides students with tailored recommendations for exactly what to study, teachers with analytics and publishers with content insights to develop better products.
The company, which has offices in New York City, London, São Paulo, and Tokyo, has also launched a free online platform, now in open beta at knewton.com, that allows any educator to create supplemental lessons using open educational resources.