Startup City Magazine

Grockit Raises $20 Million From "Discover" Along with Other Investors

Grockit, a platform for social learning has in its recent round of strategic investment, raised an amount of $ 20 million. Investors in this round included Benchmark Capital, Atlas Ventures, Integral Capital and GSC Capital Corp (all participants from the Summit group) apart from Discovery Communications, the giant in the media, reputed for channels like Travel and Living, Discovery, Animal Planet etc.

This marks the first time that an investment has been made between a social media startup and a giant in the Media. Marketing, distribution, technology and promotional opportunities will now be shared between the two companies. Promotional opportunities will be provided through Grockit’s platform for social learning , namely Learniest.

Grockit’s total investment has now come under a $ 45 million. The company was first launched in 2006 as prep course for standardized video tests. However, it was re launched two years later as a service for social learning. So how is this done? This is done by combining adaptive and personalized programs for test preps with gamification.

Students could then get themselves connected with live instructors or watch these videos. Grockit’s well known “Pinterest for Education”, Learnist, was then launched in May. This allowed content from the web to be posted by teachers and students to a digital clipboard. This content could now be shared or commented on. This platform’s user base has grown to a 400 percent today with over a hundred to a thousand users.

In fact, ninety percent of Grockit’s resources today are being dedicated to this platform. Though the platform was first launched as a tool for K-12 teachers where they could create learn boards for various kinds of topics that range from 7th grade math to lessons on hip hop, Learniest, today has a potential for a much broader scope of serving casual and lifelong learning. It now represents a channel where technology for social learning can be tapped giving Grockit a greater access to reach far and wide.

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