Knewton, a NYC-based adaptive learning company, raised an additional $10m and closed its $52m financing round.
The round was led by Sofina and London-based Atomico, with participation from EDBI, the corporate investment arm of the Singapore Economic Development Board, and TAL Education Group, a K-12 education company in China, and returning investors Accel Partners, Bessemer Venture Partners, FirstMark Capital, and Founders Fund.
The company, which announched the first tranche of the round totalling $42m in November 2015, will use the funds to expand its domestic and international infrastructure including technology, sales, implementation, and support teams—particularly in Asia where the business is expanding in China, Japan, India, and Singapore.
Founded in 2008, Knewton provides anadaptive learning platform that dynamically tailors educational content to meet each K-12 and university-level student’s individual needs. The solution is currently in use at dozens of education companies.
The company has offices in New York City, London, São Paulo, and Tokyo.