Newsela, a NYC-based instructional content platform, raised $50m in Series C funding.
Growth equity firm TCV made the investment. As part of the transaction, Woody Marshall, a General Partner at TCV, has joined Newsela’s Board of Directors.
The company intends to use the funds to accelerate its presence in schools across the country and expansion of its new Custom Collections offering, allowing districts to customize materials that match their unique curriculum standards.
Led by Matthew Gross, CEO, Newsela provides an instructional content platform that combines engaging, leveled content with integrated formative assessments and insights to charge engagement and learning in every subject. Students and teachers use it to find digital content from several sources—from National Geographic to NASA, Biography.com to Encyclopedia Britannica, the Washington Post to the Wichita Eagle. Content is instructionalized to meet students where they are, with interactive tools and analytics.
The company sources and curates digital content from hundreds of partners, making it accessible and personalized to student interests.
There are over 20M students and 1.8M teachers on the platform.