BELLEVUE, Wash.--(BUSINESS WIRE)--DreamBox Learning® (www.dreambox.com), today announced the company has closed $14.5 million in Series A1 financing. The round was led by Netflix CEO Reed Hastings, through the Charter School Growth Fund, as well as private investments by venture capitalists John Doerr and Deborah Quazzo, and angel contributions by two Seattle education philanthropists. Additionally, GSV Capital Corp. (NASDAQ: GSVC) tripled its investment in the company.
DreamBox Learning will use the recently acquired funds to invest in two key areas: product development and scaling business operations. The company will continue to advance development of its pioneering Intelligent Adaptive Learning™ platform and add additional grade coverage to its award-winning PreK-5 math product, including a middle school intervention offering. In addition, DreamBox Learning will expand direct sales and marketing operations and increase resources to support its rapidly growing district-level clients.
“Recent global rankings showing that the U.S. has slipped to 26th in math is a resounding wake-up call to schools to start leveraging the power of Intelligent Adaptive Learning technology in the classroom,” said Jessie Woolley-Wilson, President and CEO of DreamBox Learning. “The ability to deliver differentiated instruction to each individual student throughout an entire district is no longer a luxury, but a necessity if we want to advance our students’ academic standing and remain competitive in the global economy. The need has never been greater to put advanced and proven technology, such as DreamBox Learning, into the hands of our teachers and children.”
“DreamBox Learning has flawlessly executed a strategic vision to provide every student with access to a quality education, anchored by a truly transformative technology that has proven to be highly impactful and scalable,” said Michael Moe, Co-Founder and Chief Investment Officer at GSV Capital. “The company has experienced explosive growth in the past year and GSV Capital’s investment is a clear signal that we believe DreamBox Learning is well positioned to dominate the adaptive education technology sector.”
The company’s DreamBox Learning Math instructional technology, available on the PC and iOS tablets, provides the most robust personalized learning experience on the market today. Designed to differentiate content, pace, and sequence for the highest levels of student achievement, DreamBox Learning Math features rigorous math curriculum in an engaging, game-like environment that delivers an unparalleled student-driven learning experience. The product features more than 1,300 PreK-5 interactive and adaptive lessons and virtual manipulatives aligned with Common Core State Standards. DreamBox Learning currently serves more than 2 million lessons per week to students in schools across all 50 U.S. states and throughout Canada. The DreamBox Intelligent Adaptive Learning technology uses the insight gained from processing over one billion student data points per day to deliver the most effective instruction to our students.
“DreamBox Learning’s adaptive technology is fueling the blended learning movement in classrooms nationwide to help millions of students thrive in mathematics,” said Reed Hastings. “The company’s highly talented and committed team has achieved this objective at a record pace through strong partnerships with principals, teachers and parents who recognize that this innovative online learning technology is a game changer and has the ability to catapult student progression for every child at every learning level.”
Aimed at closing the achievement gap for all students, DreamBox Learning has won more than 30 industry accolades. Most recently, DreamBox Learning Math was named to District Administration’s “Readers’ Choice Top 100 Products.” Winners were chosen from more than 1,800 unique nominations sent by K-12 leaders who detailed the products’ positive impacts on their schools.
About DreamBox Learning
DreamBox Learning was founded in 2006 in Bellevue, Washington and launched its first online learning product in January 2009. The platform has won more than 35 top education and technology industry awards and is in use in all 50 states and throughout Canada. DreamBox Learning Math offers a groundbreaking combination of Intelligent Adaptive Learning, rigorous elementary mathematics curriculum, and motivating learning environment. The innovative DreamBox platform captures every decision a student makes while working in the program and adjusts the student’s learning path appropriately, providing millions of individualized learning paths, each one tailored to a student’s unique needs. DreamBox Learning Math is available for PC and iPad. For more information, visit: www.dreambox.com