Varsity Tutors, a live learning platform for private instructors in the United States, closed $50m Series B funding.
Backers included Technology Crossover Ventures (TCV), Adam Levine and Stuart Udell, among others. In conjunction with the funding, Woody Marshall (TCV General Partner) and Erik Blachford (former CEO of Expedia, Hotwire and Hotels.com) joined Varsity Tutors’ Board of Directors.
The company intends to use the funds for product improvements related to Varsity Tutors’ core online live tutoring technology, its mobile applications and its backend infrastructure and logistics systems, as well as further growth.
Founded in 2007 at Washington University in St. Louis by CEO Chuck Cohn, Varsity Tutors is a live learning platform that connects students with personalized instruction to accelerate academic achievement. Additionally, the company offers free online learning tools and mobile applications, which create a learning ecosystem of more than 100,000 free practice questions, answers and explanation sets across more than 150 subjects and standardized tests.