Bengaluru: An online software provider, DreamBox Learning secures $10 million in a series B round of funding backed by Owl Ventures and Tao Capital Partners. The company will deploy the latest funding to upgrade company’s technology and to accelerate product innovations that will enrich the Educator Experience. It will also utilize to enlarge its content offering, including supplementary lessons, improvement to its engagement framework and advance its reporting capabilities for districts and states. The company had previously raised $7.1 million in Angel round, $11 million and $14.5 million in Series A round of funding led by Reed Hastings and Charter School Growth Fund. Along with the most recent funding, the company’s total fund raised comes to about $45.6 million.
As part of the release, DreamBox declares that Tory Patterson, Co-Founder & Managing Partner, Owl Ventures will be joining as Board of Directors. An imposing group of current DreamBox Learning Board of Directors also includes Reed Hastings – Co-Founder, Chairman & CEO, Netflix, Kevin Hall – CEO & President, Charter School Growth Fund, Paul Holland – General Partner, Foundation Capital and Jessie Woolley-Wilson – President, CEO and Board Chair.
A pioneering Intelligent Adaptive Learning platform, Washington – based DreamBox Learning was founded in 2006 by Jessie Woolley-Wilson in Bellevue. An innovative platform, DreamBox Learning currently delivered more than 150 million maths lessons to student’s grades K-8. Experiencing a significant growth by mounting its student users over year, the company is serving over 1.5 million active student users in 50 states and throughout Canada and has won more than 40 top education and technology industry awards.
Speaking about the funding, Tory Patterson, Co-Founder & Managing Partner, Owl Ventures says, “I am honoured to join the DreamBox Learning board and be part of this promising and innovative company that is already supporting nearly 1.5 million active students, more than 75,000 K-8 teachers, and is delivering more than one million math lessons daily. We are excited about education technology companies that demonstrate tangible and measurable learning outcomes and broad market appeal. DreamBox delivers an engaging learning experience that students truly love. We are proud to be a part of this exciting journey with DreamBox to expand learning opportunities for all students”.
Regan Pritzker, Tao Capital, says, “DreamBox’s belief that teachers should remain at the center of learning is critical, and as a teacher, I am inspired by what they are doing to support educators in blended learning environments. DreamBox prepares educators to fully harness smart data and support better learning outcomes and opportunities for students. We remain encouraged by what can be achieved for students when teachers leverage powerful learning innovations that engage students while personalizing learning. We believe DreamBox Learning is a best of breed learning design”.
Jessie Woolley-Wilson, President & CEO, DreamBox Learning concludes, “We are honoured to welcome Owl Ventures and Tao Capital Partners to our family. We share the belief that all students deserve an engaging, personalized and effective learning experience, regardless of the zip code in which they live. With this investment, our future remains bright as we continue our important work to reimaging and reshape the future of learning”.