Outschool announced a $110M Series D raise with a $3B valuation for its K-12 education marketplace. The Series D funding comes less than a year after a $75M Series C raise in April 2021. The latest round of funding is led by previous investor Tiger Global Management and adds BOND. Additional participants in the round include Lightspeed Ventures, Union Square Ventures, Reach Capital, Coatue, FundersClub and SV Angel. The funding provides Outschool with additional resources to fulfill its mission to positively impact society by inspiring a love of learning in children across the world.
Outschool is an innovative education platform that offers a variety of engaging, small-group classes online. Unlike traditional classes or passive videos, Outschool gives kids the unique opportunity to explore their interests in-depth with interactive classes taught via live video by experienced, independent teachers and organizations.
Named by Fast Company as one of the Most Innovative Companies in 2021 and by Inc. Magazine’s Inc. 5000 as this year’s fastest growing education company, Outschool has expanded its offering domestically and globally. Previously only available as a teaching opportunity to teachers in the United States and Canada, when the pandemic hit, the company grew its offerings dramatically. Outschool offered an opportunity for teachers worldwide to earn extra income, allowing independent educators in countries such as Australia, New Zealand, and the UK to engage thousands of kids looking for time-zone-friendly classes while schools were largely shut down. Despite the marked uncertainty around Covid-19 and emerging variants, Outschool’s latest funding round demonstrates confidence in the company’s long-term potential in a dynamic global education environment.
“Outschool’s online learning provides parents and students with a high-quality, convenient and affordable form of after-school enrichment and supplemental learning,” said Evan Feinberg, Partner, Tiger Global. “Offering small, customized classes taught online and in real time, Outschool has emerged as an industry leader, and we are excited to partner with them as they expand.”
Although schools across the United States went back to in-person classes this fall, Outschool continues to attract new learners, especially for ongoing classes. This latest round of funding will be used to fuel Outschool’s global expansion and ramp up new product offerings for schools and parents seeking alternatives to engage children in a love of learning.
“Outschool engages and inspires learning through a large variety of classes and subjects so kids can dive deeper into their favorite interests. We have seen firsthand how the small-group format encourages social interaction and builds friendships while also allowing for a deeper understanding of subject matter. Recently, we launched Outschool Pods based purely on demand from both teachers and families to have more opportunities for on-going organized, academic classes in small group settings. We will continue to innovate our product based on the needs of our community,” said Amir Nathoo, CEO of Outschool. “I couldn’t be prouder of the achievements of our team from the past year and a half. Now we recognize the real work begins as we scale up and realize the platform’s great potential to inspire learners across the world.”
Classes on Outschool range from one-time classes, to ongoing social groups, one-on-one tutoring, week-long camps, and ongoing courses. Classes are offered across all subjects, and for learners ranging from age 3 to 18. For families with a financial need, their nonprofit arm Outschool.org provides access to unique classes and camps. Outschool.org has donated over $3M to schools, after school programs and families in need since its inception in April 2020.
Source: PR Newswire