Tracxn - Higher Education Startup Landscape

DECEMBER 2018
HIGHER EDUCATION

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report – Higher Education - Dec 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on December 4, 2018.
Higher Education Feed Summary
4
Higher Education > Feed Summary
Companies providing online courses, educational resources, learning platforms, management solutions, teaching
resources, and other services for Higher Education students, teachers, parents and administrators
• Inclusions: All tech-based companies that provide courses, resources,
mobile apps, and learning platforms for online learning to university
students and teachers. Also, contains admission assistance platforms,
end to end student lifecycle solutions, student-specific listing &
marketplace platforms, employment platforms, learning management
system, administrative management system, networking platforms,
smart classroom solutions, and other support services for colleges and
universities. Includes virtual universities offering online degree
programs.
• Exclusions: Companies providing education loan, traditional brick-n-
mortar colleges & universities, offline tutoring and training centers,
offline admission consultants, and service companies.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$4.8B
Funding
21
Mega
Companies
8053048
FundedCovered on
Tracxn
3
Unicorns
13
Soonicorns
24
Minicorns
13
IPO’d Cos
224
Late Stage Cos
56
162
Acquisitions
489
DeadPooled
3
Acquihired
Series A+ Cos
Instructure
(2008, Salt Lake City, $90M)
Blackboard
(1997, Washington D.C., $67M)
Chegg
(2005, Santa Clara, $208M)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Higher Education
5
$400M - Series C
Laureate (1998, Baltimore, $550M)
$40M - Series C
Handshake (2012, San Francisco, $74M)
$55M - Series C
CampusLogic(2011, Gilbert, $76.6M)
$40M - Series B
Pymetrics (2012, New York City, $58M)
$50M - Series B
Trilogy Education Services (2015, New York
City, $80M)
$30M - Series A
City, $80M)
$50M - Series D
Topica (2011, Hanoi, $50M)
$30M - Series C
HackerRank (2009, Palo Alto, $58.2M)
$50M - Series B
UniCareer (2014, New York City, $50M)
$28M - Series B
Unicaf (2008, Larnaca, $48.2M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Higher Education > Feed Summary > Investment Trend Summary
Seed University Ventures (#7), Rethink (#3), Learn Capital (#3)
Series A/B
University Ventures (#8), New Markets Venture Partners (#4), SV
Angel (#3)
Series C+
GSV Capital (#2), Rethink (#1), New Markets Venture Partners
(#1)
Incubators 500 Startups (#19), Techstars (#10), Y Combinator (#10)
Other Notable
Investors
JMI Management (#4), Lumina Foundation (#4), FundersClub (#3)
Debt Investors
Connecticut Innovations (#3), Silicon Valley Bank (#3), Lighter
Capital (#2)
Most Active InvestorsRecent Investments
335
373
545
323
115
10
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded 126 130 137 131 106 96
$3.9B
$250M
$246M
$200M
$54.4M
US
Europe
Canada
India
SEA
$ Funding
$456M $458M
$562M
$783M
$416M
$570M
2013 2014 2015 2016 2017 2018*
$ Funding # Rounds

Summary of exit outlook in Higher Education
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Novak Biddle
Venture Partners
2
2U (2008, Annapolis, $95.9M)
Blackboard (1997, Washington D.C., $67M)
Bessemer Venture
Partners
2
2U (2008, Annapolis, $95.9M)
Instructure (2008, Salt Lake City, $90M)
Insight Venture
Partners
2
Chegg (2005, Santa Clara, $208M)
First Analysis 2
2U (2008, Annapolis, $95.9M)
Rethink 2
2U (2008, Annapolis, $95.9M)
McGraw-Hill Education (1916, New York City,
$20M)
Jun 2016 Higher One Acq by Blackboard for $260M
Oct 2015 Ex Libris Acq by ProQuest for $500M
Dec 2014 Royall & Company Acq by Advisory for $850M
Jun 2014
iParadigms Acq by Insight Venture Partners for
$752M
Nov 2012
McGraw-Hill Education Acq by Apollo Global
Management for $2.5B
Jun 2011
Blackboard Acq by Providence Equity Partners for
$1.6B
Higher Education > Feed Summary > Exit Outlook Summary
Blackboard 8
Higher One (Jun 2016, $260M), Angel Learning (May 2009,
$95M), Presidium Learning (Jan 2011, $53M)
Hobsons 4
Starfish Retention Solutions (Feb 2015), College
Confidential (May 2008), RepVisits (Jan 2017)
Chegg 4
StudyBlue (Jul 2018, $20.8M), WriteLab (May 2018, $15M),
Zinch (Sep 2011)
ProQuest 4
Ex Libris (Oct 2015, $500M), SIPX (Apr 2015), Alexander
Street (Jun 2016)
Pearson 3
eCollege (May 2007, $477M), Pearson Embanet (Oct 2012),
IntelliPro (Apr 2009)
Recent IPOs Top Acquisitions
Higher One Jun 2010
Financial management platform for institu…
IPO MCap: $661M
Bridgepoint Education Apr 2009
Virtual school and SaaS platforms for ins…
IPO MCap: $558M
Blackboard Jun 2004
LMS for educators, corporations and gover…
IPO MCap: $352M
Tribal Group Jul 2002
SaaS platforms for educational and traini…
IPO MCap: -
Laureate Feb 2017
Provides online and campus based courses…
IPO MCap: $2.4B
Instructure Nov 2015
Cloud-based Learning Management System
IPO MCap: $425M
2U Mar 2014
SaaS based virtual classroom platform for…
IPO MCap: $509M
Chegg Nov 2013
Provider of tutoring, internship, book re…
IPO MCap: $1B

FACTSHEET
Overview
Companies 3048
Funded 805 Series A+ 224
Funding $4.8B Last 2 yrs $1.4B
Most Active Investors
Seed University Ventures (7)
Series A/B University Ventures (8)
Series C+ GSV Capital (2)
Others JMI Management (4)
Incubators 500 Startups (19)
Top Cities
Bay Area 204 Cos $1.2B
Baltimore 9 Cos $575M
Feed in Numbers
Unicorns 3 Soonicorns 13
Minicorns 24 Editor Picks 114
Acquihired 3 Deadpooled 489
Top Companies
Exits
IPOs 13 Laureate, Chegg
Acquisitions 162 McGraw-Hill Education,
Blackboard
Top Acquirers Blackboard, Hobsons
Marketmap: Higher Education
NEW-AGE UNIVERSITIES
ONLINE DEGREE PROVIDERSTECH-ENABLED UNIVERSITIES*
STUDENTS
ADMISSION ASSISTANCE
EMPLOYMENT ASSISTANCE
DISCOVERY PLATFORMS
LEARNING RESOURCES
COLLABORATIVE PLATFORMS
TUTORING
JOB & INTERNSHIP PLATFORM
CAREER READINESS PROGRAM
DIGITAL PORTFOLIO
UNIVERSITIES
LEARNING MANAGEMENT
NETWORKING PLATFORM
UNIVERSITY MANAGEMENT
LEARNING PLATFORMS
VIRTUAL CLASSROOM PLATFORM
PROCTORING SOLUTIONS*
FINANCIAL MANAGEMENT
ENROLLMENT MANAGEMENT
CONTENT DISTRIBUTION
AR/VR-BASED*
For any Feedback and Query reach out to MyAnalyst@tracxn.com.
* Upcoming Business Model
Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
Higher Education > Feed Summary > BlueBox
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.7 Feed Report – Higher Education - Dec 2018

Key Sub Sectors in Higher Education Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Student Solutions > Employability >
Pre-assessed Job Platform 39 $97.2M 9
Career Readiness Programs 70 $84.6M 10
Jobs & Internship Platform 223 $54.8M 16
Universities >
Virtual 55 $484M 5
Student Solutions > Student Resources >
Self Study >
Multi-Disciplinary
72 $37.9M 6
University Solutions > Management
Solutions > Learning Network >
Communication Platform
68 $18M 7
Solutions > University Management System
>
Enrollment Management
75 $17M 8
Student Solutions > Student Resources >
Alternative Credit Providers 12 $85.5M 4
Solutions > Learning Management System >
Assessments >
Proctoring Solutions
28 $26.2M 5
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
University Solutions
Platforms that allow universities/colleges to manage
learning (content authoring, assessment,...
1134 347 $2.3B
Student Solutions
Companies providing solutions to students such as
tutoring, admission assistance, and...
1844 437 $1.7B
Universities
Brick & Mortar universities using technology for
increasing learning efficiency and virtual...
62 19 $777M
Teacher Solutions
Companies providing learning solutions to college
professors and staff
8 2 -
Higher Education > Feed Summary > Summary of Key Markets

List of Notable Companies in Higher Education
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Higher Education > Feed Summary > Notable Companies in the Sector
Public
Laureate
(1998, Baltimore, $550M)*
Chegg
(2005, Santa Clara, $208M)
Bridgepoint Education
(2004, San Diego)
2U
(2008, Annapolis, $95.9M)
Instructure
(2008, Salt Lake City, $90M)
DRS Data Services
(1969, Milton Keynes)
National American
University
(1941, Rapid City)
Aztec Software
(1980, Springfield Township)
Pyoopil
(2013, Delhi)
Tribal Group
(1999, Bristol)
Acquired
McGraw-Hill Education
(1916, New York City, $20M)
Blackboard
(1997, Washington D.C., $67M)
Royall & Company
(1983, Richmond)
iParadigms
(1998, Oakland)
Ex Libris
(1986, Jerusalem, $4M)
eCollege
(1996, Centennial)
Higher One
(2000, New Haven, $91.5M)
ProQuest
(2008, Ann Arbor)
Learning House
(2001, Louisville)
Interfolio
(1999, Washington D.C., $13.2M)
Unicorns
Ellucian
(1968, Fairfax)

List of Notable Companies by Market in Higher Education
Notable Companies by Market (1/5)
11
Higher Education > Feed Summary > Notable Companies by Market
Universities
Virtual
Provides online and campus based courses at both
UG and PG levels
Stage: Public
The Abraaj Group, Tikehau Capital, IFC and 6 Other
Investors
Bridgepoint Education (2004, San Diego)
Virtual school and SaaS platforms for institutes for
personalised learning of students
Stage: Public
Warburg Pincus
National American University (1941, Rapid
City)
Virtual school for higher education
Stage: Public
Student Solutions
Student Resources
Provider of tutoring, internship, book rental and
related services for university students
Unicorn. Stage: Public
ACE Group, TriplePoint Capital, Pinnacle Ventures
and 21 Other Investors
Piazza (2009, Palo Alto, $15.5M)
Collaborating platform for students and teachers
Soonicorn. Stage: Series B
Khosla Ventures, Bessemer Venture Partners,
Kapor Capital and 4 Other Investors
Employability
Parchment (2003, Phoenix, $83.6M)
Credential verification and online sharing platform
for transcripts
Soonicorn. Stage: Series E
Raine Group, Novak Biddle Venture Partners,
Salmon River Capital and 3 Other Investors
Career management and recruiting platform for
students, recruiters and colleges
Soonicorn. Stage: Series C
EQT Ventures, Omidyar Network, Reach Capital and
8 Other Investors
Technical recruitment platform and code-challenge
community
JMI Management, Khosla Ventures, Battery
Ventures and 11 Other Investors

12
Student Solutions
Employability
Smart human capital management
General Atlantic, Salesforce, Khosla Ventures and 8
Other Investors
Learning Platform
Knewton (2008, New York City, $168M)
Adaptive learning technology provider for
educational institutions
Soonicorn. Stage: Series F
Sofina, Founders Fund, First Round Capital and 12
Other Investors
Management Solutions
HotChalk (2004, Campbell, $245M)
Online degree programs provider in collaboration
with universities
Bertelsmann, Escalate Capital, GSV AcceleraTE and
6 Other Investors
D2L (1999, Kitchener, $165M)
Learning management system for K-12, higher
education and enterprises
Columbus Nova Technology Partners, Graham
Holdings Co, Four Rivers Group and 4 Other
Investors
2U (2008, Annapolis, $95.9M)
SaaS based virtual classroom platform for online
degree programs
Stage: Public
Bessemer Venture Partners, Highland Capital
Partners, Redpoint Ventures and 8 Other Investors

13
Higher One (2000, New Haven, $91.5M)
Financial management platform for institutions
Stage: Acquired
IA Capital Group, Fidia Holding, North Hill Ventures
Soonicorn. Stage: Public
Bessemer Venture Partners, EPIC Venture Fund,
OpenView and 5 Other Investors
Civitas Learning (2011, Austin, $88.9M)
Predictive analytics platform for personalised
education advice
Soonicorn. Stage: Series D
Warburg Pincus, Austin Ventures, Emergence
Capital and 8 Other Investors
LMS for educators, corporations and government
organizations
Unicorn. Stage: Acquired
Oak Hill Capital Partners, The Aurora Funds, The
Carlyle Group and 11 Other Investors
Schoology (2009, New York City, $57M)
Learning management system for schools and
corporate
Soonicorn. Stage: Series D
JMI Management, FirstMark, Intel Capital and 6
Other Investors
Everspring (2011, Evanston, $53.5M)
Virtual classroom platform for universities
Carrick Capital Partners, Accretive
Smart Sparrow (2008, Sydney, $23.5M)
Adaptive eLearning Platform
ACT, Moelis & Company, One Ventures and 3 Other
Investors
$20M)
Publisher of educational content and digital
learning solutions
Stage: Acquired
ATP Private Equity Partners, Seavest, AlpInvest
Partners and 1 Other Investors
Interfolio (1999, Washington D.C., $13.2M)
Provides platform for portfolio creation and hiring
Minicorn. Stage: Acquired
Quad Partners, Middleland Capital, Blu Venture
Investors and 5 Other Investors

14
Ex Libris (1986, Jerusalem, $4M)
Library automation solutions.
Stage: Acquired
Walden Israel, Tamar Ventures
Ellucian (1968, Fairfax)
Software solutions provider for higher education
institutes
Unicorn. Stage: Acquired
JMI Management, Leonard Green and Partners,
Hellman & Friedman
DRS Data Services (1969, Milton Keynes)
Assessment platform for educational institutes
Stage: Public
Aztec Software (1980, Springfield Township)
Test preparation provider
Stage: Public
eCollege (1996, Centennial)
Virtual Classroom Platform for Universities
Stage: Acquired
Pritzker Group, Capital Resource Partners
iParadigms (1998, Oakland)
Web-based plagiarism & student feedback software
Stage: Acquired
Georgian Partners, ARCC, Lead Edge Capital
Learning House (2001, Louisville)
Virtual classroom platform for online degree
programs
Stage: Acquired
Evermore Investments
Pyoopil (2013, Delhi)
Web based school and learning management
system for institutions
Stage: Acqui-Hired
Royall & Company (1983, Richmond)
Enrollment and financial aid solution
Stage: Acquired
CHS Capital, Audax Mezzanine, Maranon Capital
Tribal Group (1999, Bristol)
SaaS platforms for educational and training
organisations
Stage: Acquired
Herald Investment Management, Right Click Capital

15
Content Services
ProQuest (2008, Ann Arbor)
Online platform for research
Stage: Acquired
Goldman Sachs, ABRY Partners

List of Notable Companies in Higher Education in China
Notable Companies in the Sector in China
16
Higher Education > Feed Summary > Notable Companies in the Sector in China
Public
51liucheng
(2011, Shanghai)

Recent News in Higher Education Sector
Recent News
17
Higher Education > Feed Summary > Recent News
Dec 2018
Codility Adds Specialized Skills Categories to its Task Library to
Further Help Companies Accurately Identify Qualified Talent Faster,
GlobeNewswire
Dec 2018
Unacademy records Rs 1.8 Cr in turnover; losses ballooned to Rs
23.6 Cr in FY18, Entrackr
Nov 2018
Online learning startup Career Anna raises ₹4 crore in pre series A
funding, The Indian Wire
Nov 2018
CourseKey Announces Natasha Conahan as First Chief Client Officer,
PR Newswire
Nov 2018
Texas A&m Agrilife Extension Service To Be Powered By D2l,
GlobeNewswire
Nov 2018
eXp World Holdings Completes Asset Acquisition of VirBELA,
GlobeNewswire
Nov 2018
Educational Technology Company Makes Learning Social, HITECH
news articles
Nov 2018
Perspectico, Career tech Start-up Raises Seed funding from SIIF,
University of Delhi, Startup Success Stories
Nov 2018 Gradifi Names David Chang As CEO, Business Wire
Nov 2018
Hackathon startup HackerEarth enters US, aims for profit in 2019,
Livemint
Nov 2018
London start-up of Romanian origin attracts USD 6.7 mln to expand
business, Business Review
Nov 2018
‘Faculty Information System’ Developer, Interfolio Acquired for
$110M+, EdSurge
Key Recent News Key Recent News
Nov 2018
DC-based edtech Company Interfolio to be Acquired, Report Says,
Citybizlist
Nov 2018
Real Time Cases Appoints Dr. K.C. Irwin as Director of Academic
Operations, PRWeb
Nov 2018
Laureate Education, Inc.’s Acquisition of Instituto de Educación
Superior Tecnológico Privado Red Avansys S.A.C., Global Legal
Chronicle
Nov 2018
New partnership to bring students in Germany cutting-edge science
education materials, EurekAlert
Nov 2018
Nelnet Business Solutions Acquires Tuition Management Systems,
PR Newswire
Nov 2018
Kuali Recognized as Emerging Elite in the 2018 MountainWest
Capital Network Utah 100 Awards, PR Newswire
Nov 2018
VR Education launches HD version of showcase Apollo 11
experience, Proactive Investors
Nov 2018
A Revolution in Online Survey Experience for the Education Market,
PRWeb
Nov 2018
PE firm Northstar invests $50m in Vietnam's Topica Edtech, Deal
Street Asia
Nov 2018
MONDAY DEADLINE: Kaskela Law LLC Announces Class Action
Lawsuit Against Chegg, Inc. and Encourages Investors with Losses
in Excess of $50,000 to Contact the Firm – CHGG, GlobeNewswire
Nov 2018
The Klein Law Firm Reminds Investors of Class Actions on Behalf of
Shareholders of TGTX, ALNY, CHGG, CWH and DY, GlobeNewswire

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
18
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in Higher Education; 2011-2018
Global Funding Trends (1/2)
20
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Higher Education > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 7% # of Rounds10% $ Funding
5% # of Rounds
3% $ Funding
$231M
$326M
$456M $458M
$562M
$783M
$416M
$570M
0
20
40
60
80
100
120
140
160
$0k
$100M
$200M
$300M
$400M
$500M
$600M
$700M
$800M
$900M
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding # Rounds

52 52 90 90 95 90 50 48
17 27
27 32 28
36
48
35
8 12 9 8 14 5 8 13
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
77
96
Total # of Rounds
$23M $14M $54M $48M $53M $42M $36M $58M
$61M $211M
$223M
$315M
$111M $260M
$316M
$276M
$147M $102M $179M $95M $398M $481M $63M $237M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
$231M
$570M
Total $ Invested
21
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Higher Education; 2011-2018
Higher Education > Investment Trends > Global Funding Trends
98
71
68
70
61
42
41 451
$1.8M
$1.7M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
$3.5M
0
50
100
150
200
250
300
350
400
450
500
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.8M $0.7M $0.7M $0.9M $2M $2.7M $3.1M $1.7M
$123M
$201M
$318M
$190M
$362M
$573M
$124M
$361M
0
2
4
6
8
10
12
0
100000000
200000000
300000000
400000000
500000000
600000000
700000000
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding # of Rounds
Mega Rounds
4 6 6 3 4 7 4 10

Higher Education > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Higher Education
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 1.2B 199
Baltimore 575M 12
New York City 534M 75
Washington D.C. 188M 21
Kitchener 178M 3
Boston 161M 50
Bangalore 150M 37
Dulles 112M 9
Salt Lake City 110M 12
Austin 100M 14
Total Funding
328
164
32
127
21
20
1
16
# Rounds
$3.9B
$250M
$246M
$200M
$54.4M
$35.6M
$30M
$25.4M
US
Europe
Canada
India
SEA
Australia
New
Zealand
Latam
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.6
$0.4
$0.8 $0.6 $0.8 $0.7 $0.9
2011 2012 2013 2014 2015 2016 2017
$3.7
$8.6
$3.5
$4.9 $4.2
$5.4 $5.9
$6.4 $6.8
$33.9
$21.1
$7.8
$17.8 $15.0
$18.4 $9.3 $22.4 $13.6
$36.2
$96.2
$10.5
Higher Education > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Higher Education; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$4K* $8.5M
$244K $80M
$415K $150M
$100K $400M
$10.7M
$8.7M
$3.5M
$400K
Series C+
Series B
Series A
Seed
Stage

Note: 372 companies with undisclosed funding amount are not included
24
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
209
181
53
21
7
No. of Companies
Higher Education > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Higher Education; as of Dec 2018
Distribution of companies by Funding Range
$63M
$655M
$1B
$1.5B
$1.6B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
26%
7%
3%
2%
25
Note: Numbers in the brackets show the count of companies
Time to raise
next round
56
89
224
805
3048
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
26% 1%
(33)
1%
(24)
0%
(2)
16%
(486)
58%
(1755)
28% 4%
(32)
3%
(23)
0%
(2)
11%
(91)
61%
(488)
40% 11%
(25)
8%
(17)
- 5%
(12)
55%
(123)
63% 25%
(22)
15%
(13)
- 4%
(4)
33%
(29)
- 30%
(17)
23%
(13)
- 4%
(2)
25%
(14)
Higher Education > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Higher Education
Funding Funnel
18 Months
20 Months
16 Months
Investment backedBootstrapped
13
3
100
12
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Higher Education > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Higher Education; Dec 2016-Dec 2018
Notable Investments in last 24 months (1/3)
LATE STAGE
$400M - Series C Dec 2016
Provides online and campus based courses at both
UG and PG levels
The Abraaj Group
$55M - Series C Apr 2018
CampusLogic (2011, Gilbert, $76.6M)
Financial aid platform for students
JMI Management
$50M - Series D Nov 2018
Topica (2011, Hanoi, $50M)
Online university and language learning
Northstar Group, Openspace Ventures, Patamar
Capital, CyberAgent Ventures, Edulab
$40M - Series C Oct 2018
EQT Ventures, Omidyar Network, Reach Capital,
Kleiner Perkins, True Ventures, Lightspeed Venture
Partners, Spark Capital, Chan Zuckerberg Initiative
LATE STAGE
$30M - Series C Feb 2018
community
Ventures, Randstad, Chartline Capital Partners
$25M - Series C Oct 2018
RedShelf (2011, Chicago, $57.2M)
Marketplace to buy, sell and read digital content
DNS Capital, Rick Lane, Eddie Lou, Charles Tollinche,
Tao Huang
$22.5M - Series C Feb 2017
Top Hat (2009, Toronto, $54.1M)
Audience response system for colleges and
universities
Union Square Ventures, Emergence Capital,
Georgian Partners, Inovia Capital, Version One
Ventures, Uncork Capital, Golden Ventures
LATE STAGE
$21M - Series C Jul 2018
Unacademy (2015, Bangalore, $39.4M)
Online learning platform offering crowd sourced
courses on multiple subjects
Sequoia Capital, SAIF Partners, Nexus Venture
Partners, Blume Ventures
$14.5M - Series E Jun 2017
Credential verification and online sharing platform
for transcripts
$5.2M - Series F Aug 2018
Knewton (2008, New York City, $168M)
Adaptive learning technology provider for
Sofina, Founders Fund, First Round Capital,
FirstMark, Accel Partners, Bessemer Venture
Partners, Atomico

EARLY STAGE
$50M - Series B May 2018
City, $80M)
Alternative Credential provider
Highland Capital Partners, Macquarie Group, Exceed
Capital, Rethink Impact, City Light Capital, Triumph
Capital Management
$50M - Series B Jul 2017
Online Learning and career counselling platform
Kunzhong Capital, New Oriental
$40M - Series B Sep 2018
General Atlantic, Salesforce, Khosla Ventures,
Workday, JAZZ Venture Partners
$30M - Series A Jun 2017
City, $80M)
Alternative Credential provider
Highland Capital Partners, City Light Capital, Rethink
EARLY STAGE
$28M - Series B Nov 2018
Unicaf (2008, Larnaca, $48.2M)
Scholarship programs for distance learning courses
from global universities for Africans
CDC Group, University Ventures, edX, Goldman
Sachs Investment Partners
$22.2M - Series B Aug 2018
$21M - Series A Mar 2017
Examity (2012, Needham, $24M)
Proctored examination provider
University Ventures, Inherent Group, Trinity Capital
Investment
$11.8M - Series B Sep 2017
Partners, Blume Ventures, WaterBridge Ventures
EARLY STAGE
$10M - Series B Mar 2017
CampusLogic (2011, Gilbert, $76.6M)
$10M - Series A Feb 2018
Kuali (2014, Lehi, $10M)
University grant and financial management software
Owl Ventures
$8M - Series A Sep 2017
JAZZ Venture Partners, Workday, Khosla Ventures,
Randstad, BBG Ventures
$7.5M - Series B Feb 2018
ACT
$5.3M - Series A Oct 2017
BridgeU (2013, London, $8.2M)
Data-driven admission counselling through
predictive analytics
Octopus Ventures, Fresco Capital, Downing Ventures

EARLY STAGE
$4.5M - Series A Jan 2017
Nexus Venture Partners, Blume Ventures,
Ratnagirish Mathrubootham, Ananth Narayanan,
Vijay Sharma, Sandeep Tandon, Saurabh Shivhare,
Paula Mariwala, Satyen V Kothari, Neeraj Sagar,
Prashant Adurty, Sujeet Kumar, Phanindra Sama,
Kalyan Krishnamurthy, Vikas Malpani, SANDHYA
SUBRAMANYAM, Manish Kheterpal, Shailendra
Nigam, Ashish Tulsian, Kunal_Shah , Aditi Gupta
$4.5M - Series A Apr 2017
HackerEarth (2012, Bangalore, $5M)
Cloud based online recruitment solution for
technical hiring
Prime Venture Partners, DHI Group, Beenos,
Beenext, Digital Garage, BizReach
$4M - Series B Apr 2017
Moelis & Company, One Ventures, Uniseed
EARLY STAGE
$3.3M - Series A Jul 2017
Terra Dotta (2001, Chapel Hill, $9.3M)
Higher education SaaS provider
$3M - Series B Jul 2017
$2.1M - Series A Nov 2017
SchoolGuru (2012, Mumbai, $7.1M)
University partners for providing online virtual
course content
TeamLease
$1.9M - Series A Dec 2017
Univariety (2011, Hyderabad, $3.9M)
Web platform to get recognized by international
universities and get scholarships
Info Edge
EARLY STAGE
$574k - Series B May 2018
Partners, Blume Ventures

Higher Education > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$219M - Series D Aug 2018
Hui Ke Education Technology Group (2010,
Beijing, $286M)
Learning management solution for higher
educational institutes
China Oceanwide Holdings Group Co., Ltd. - Dupe

Most Active Investors (VC, PE) by Stage in Higher Education; Last 5 years (Dec 2013-Dec 2018)
Most Active VC & PE Investors
30
Higher Education > Investment Trends > Most Active VC & PE Investors
SEED STAGE
University Ventures (7 Investments)
CampusLogic, Packback, Portfolium
1
Blume Ventures(3 Investments)
Unacademy, Skillenza, Frapp
2
Learn Capital(3 Investments)
WriteLab, Learning Machine, Paragon One
3
Rethink(3 Investments)
Upswing, SVAcademy, Shearwater
4
Social Capital (3 Investments)
interviewing.io, GetSet Learning, AdmitSee
5
Reach Capital (3 Investments)
PeopleGrove, WriteLab, AdmitHub
6
1776 (3 Investments)
Practice, StudySoup, AdmitHub
7
Kapor Capital (2 Investments)
interviewing.io, WriteLab
8
Felicis Ventures(2 Investments)
CodeFights, Alma Campus
9
GSV AcceleraTE (2 Investments)
CampusLogic, PeopleGrove
10
EARLY STAGE
Unicaf, Examity, Revature
1
New Markets Venture Partners(4
Investments)
Noodle Partners, Motimatic, Signal Vine
2
SV Angel (3 Investments)
Course Hero, WayUp, CodeFights
3
Owl Ventures(3 Investments)
Raise Labs, Noodle Partners, Kuali
4
First Round Capital (2 Investments)
Raise Labs, MissionU
5
City Light Capital (2 Investments)
Trilogy Education Services, Practice
6
Floodgate Fund (2 Investments)
Jodel, LearnUp
7
Rethink(2 Investments)
Trilogy Education Services, MissionU
8
GSV Capital(2 Investments)
Course Hero, Declara
9
Northzone(2 Investments)
Sqore, Labster
10
LATE STAGE
GSV Capital(2 Investments)
Knewton, Parchment
1
Intel Capital
Schoology
2
Atomico
Knewton
3
Rethink
Civitas Learning
4
Georgian Partners
iParadigms
5
Insight Venture Partners
Instructure
6
Warburg Pincus
Civitas Learning
7
Raine Group
Parchment
8
Sofina
Knewton
9
Great Road Holdings
Schoology
10

Higher Education > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Higher Education; Last 5 years (Dec 2013-Dec 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(19 Investments)
ApplyBoard, Noodle Partners, Glints
1
Y Combinator(10 Investments)
HackerRank, WayUp, Lambda School
2
Techstars(10 Investments)
Hackajob, panOpen, AdmitHub
3
MassChallenge(9 Investments)
Pymetrics, Goodwall, GradTrain
4
Dreamit(8 Investments)
PeopleGrove, Tassl, University Beyond
5
LearnLaunch(7 Investments)
uConnect, Riipen, Cram Fighter
6
Village Capital(5 Investments)
Upswing, Nepris, ReUp Education
7
Startupbootcamp(4 Investments)
ProctorExam, Workkola, Proctor2Me
8
TLabs(4 Investments)
Meet University, EPaathsala, Spayee
9
Start-Up Chile(3 Investments)
Stellup App, FirstJob, Blumen
10
OTHER NOTABLE INVESTORS
Lumina Foundation(4 Investments)
Credly, Upswing, BridgeEdU
1
JMI Management(4 Investments)
Schoology, HackerRank, CampusLogic
2
Bill and Melinda Gates Foundation(3
Investments)
Smart Sparrow, Lumen Learning, Acrobatiq
3
Wayra(3 Investments)
Team Match, U-Planner, viaedu
4
Kima Ventures(3 Investments)
Jodel, SchoolMouv, Whale Path
5
FundersClub(3 Investments)
Whale Path, Quero, Chitter
6
Randstad(3 Investments)
HackerRank, Pymetrics, Goodwall
7
Salesforce(3 Investments)
Pymetrics, Raise Labs, Viridis Learning
8
Internet Initiatives Development
Fund(3 Investments)
Brainify, ProfKontur, Smart Abroad
9
Info Edge(3 Investments)
Univariety, NoPaperForms, StudyPlaces
10
DEBT INVESTORS
Silicon Valley Bank(3 Investments)
Knewton, D2L, CollegeVine
1
Connecticut Innovations(3 Investments)
Copyleaks, Combat2Career, QuadJobs
2
The North West Fund(2 Investments)
Collabco, Liftupp
3
Lighter Capital(2 Investments)
Signal Vine, StudySoup
4
The Carlyle Group
Uniasselvi Floripa
5
Hercules Capital
Regent Education
6
Pinnacle Ventures
HotChalk
7
Enterprise Ventures
Collabco
8
Harbert Management
Studitemps
9
Macquarie Group
Trilogy Education Services
10

Higher Education > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/3)

Higher Education > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
36
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
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Marketmap: Higher Education
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.38 Feed Report – Higher Education - Dec 2018
Higher Education > Market Details > BlueBox

Key Sub Sectors
39
Key Sub Sectors in Higher Education
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Platforms that allow universities/colleges to manage learning (content authoring, assessment,
report....
2U (2008, Annapolis, Public)
HotChalk (2004, Campbell, $245M)
1134 347 $2.3B
Student Solutions
Companies providing solutions to students such as tutoring, admission assistance, and career
readiness programs
Chegg (2005, Santa Clara, Public)
1844 437 $1.7B
Universities
Brick & Mortar universities using technology for increasing learning efficiency and virtual
universi....
Laureate (1998, Baltimore, Public)
Minerva Project (2011, San Francisco,
$108M)
62 19 $777M
Teacher Solutions
Companies providing learning solutions to college professors and staff
Faculty Focus (2005, Madison)
Hoonuit (2000, Saint Cloud, 0)
8 2 -
Higher Education > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/9)
40
Higher Education > Market Details > Detailed Sector Taxonomy

41

42

43

44

45

46

47

48

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+2)
Student Solutions > Employability > Pre-assessed Job Platform
Platforms that conducts competitions and hackathons to pre assess job candidates
(Companies covered 39 | Funded 24 | Total Funding $166M)
$97.2M
(+$58.9M)
9
(-5)
Pymetrics
2
(+3)
Student Solutions > Employability > Career Readiness Programs
Companies providing courses and resources for students to acquire necessary skills for job placement
$84.6M
(+$44.4M)
10
(-1)
UniCareer
3
(-2)
Student Solutions > Employability > Jobs & Internship Platform
Platform that allows college students and recent graduates to look for and apply to jobs across sectors
$54.8M
(+$12.8M)
16
(-3)
Handshake
(2012, San Francisco, $74M)
4
(+2)
Universities > Virtual
Educational institutions offering online degree programs
$484M
(+$464M)
5
(-)
Laureate
(1998, Baltimore, Public)
5
(+8)
Student Solutions > Student Resources > Self Study > Multi-Disciplinary
Platforms that provide courses and learning resources for specialized subjects such as engineering and
medicine
(Companies covered 72 | Funded 14 | Total Funding $76.3M)
$37.9M
(+$35.1M)
6
(+2)
Unacademy
(2015, Bangalore, $39.4M)
6
(+3)
University Solutions > Management Solutions > Learning Network >
Communication Platform
Platforms that allow students to communicate with teachers and each other
$18M
(+$11.6M)
7
(+1)
Jodel
(2014, Berlin, $6.8M)
7
(-2)
University Solutions > Management Solutions > University Management System
> Enrollment Management
Platforms that allows universities to manage the enrollment process helping them to market their
brand and communicate with prospects
$17M
(-$289k)
8
(-6)
BridgeU
(2013, London, $8.2M)
49
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Higher Education in last 2 years (December 2016 - November 2018)
Higher Education > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
Higher Education > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Student Solutions > Student Resources > Discovery > Education Loan &
Scholarships
Platform for students to search for and apply to scholarships and loans for higher education
(Companies created 56 | Funded 18 | Total Funding $52.2M )
1 Raise Labs (2012, San Francisco, $32.5M)
2
Student Solutions > Student Resources > Self Study > Multi-Disciplinary
Platforms that provide courses and learning resources for specialized subjects such as engineering and
medicine
(Companies created 72 | Funded 14 | Total Funding $76.3M )
1 Unacademy (2015, Bangalore, $39.4M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
51
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (December 2016 - November 2018)
Higher Education > Market Details > Top Markets of Early Stage Investors

Rank Market
Last 2 Years
# of Comp Founded $ Invested # Round Top Funded Company
1
Student Solutions > Student Resources > Self Study > Study Notes
Platform for students to exchange study notes
9 $0
(0)
0
(-)
StudyBlue
(2008, San Francisco,
Acquired)
52
Other Notable Markets
Other Notable Markets with high Entrepreneurial Activity in Higher Education in last 2 years (December 2016 - November 2018)
Higher Education > Market Details > Other Notable Markets

Incubators Prime Venture Partners (#1), 500 Startups (#1)
Seed Blume Ventures (#1), Felicis Ventures (#1)
Series A/B SV Angel (#2), Khosla Ventures (#1)
Series C+ Randstad (#1), JMI Management (#1)
CodeEval Aug - 2012
Acq by HireVue
$6.7M - Series A
Hackajob (2014, London, $7.4M)
$40M - Series B
$4M - Angel
Sqore (2010, Stockholm, $10.9M)
$30M - Series C
$720k - Seed
Skillenza (2013, Bangalore, $1M)
$8M - Series A
$4.5M - Series A
Seed
Stockroom (2015, Hyderabad, $70k)
$3.3M - Series A
Sqore (2010, Stockholm, $10.9M)
$10M - Series A
CodeFights (2014, San Francisco,
$12.4M)
$490k - Seed
DoSelect (2012, Bangalore, $490k)
Dec 2018
Codility Adds Specialized Skills Categories to its Task Library
to Further Help Companies Accurately Identify Qualified
Talent Faster, GlobeNewswire
Nov 2018
Hackathon startup HackerEarth enters US, aims for profit in
2019, Livemint
Nov 2018
London start-up of Romanian origin attracts USD 6.7 mln to
expand business, Business Review
Nov 2018
Japan – Career Co full year revenue up but profits drop,
Staffing Industry Analysts
Oct 2018
Tech talent recruitment platform Hackajob rallies $6.7 mln,
PE Hub
Oct 2018
India's HackerEarth helps global clients tap developer talent,
Nikkei
Sep 2018
pymetrics Raises $40 Million in Series B Funding Led by
General Atlantic, VCA Online
Sep 2018
TechGig In Association with American Express To Organise
Fourth Edition of TechGig Geek Goddess, SMEChannels
Sep 2018
HackerRank launches AI-powered tool that helps companies
assess how they hire developers, VentureBeat
Aug 2018
Hyatt and Sutherland to Use pymetrics Platform to Hire
Thousands of Opportunity Youth, Business Wire
May 2018
Codility Data Privacy Standards Exceed General Data
Protection Regulation (GDPR) Compliance Levels,
DirectorsTalk Interviews
Apr 2018
Skillenza wins Judges' Choice, eventValue bags Fan Favourite
at TOP100 India Qualifiers, E27
News
1
2
9
24
39
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Student Solutions > Employability > Pre-assessed Job Platform: Market Factsheet
53
Exits
Recent InvestmentsPlatforms that conducts
competitions and hackathons to
pre assess job candidates
HackerRank
(2009, Palo Alto, $58.2M)
Pymetrics
CodeFights
(2014, San Francisco, $12.4M)
Sqore
(2010, Stockholm, $10.9M)
Hackajob
(2014, London, $7.4M)
Top Companies
#1 Top Markets of Investment Activity
Higher Education > Market Details > Market: Pre-assessed Job Platform
Companies Created 39 | Funded 24 | Total Funding $166M
0
2
4
6
8
10
12
$0k
$20M
$40M
$60M
$80M
$100M
2014 2015 2016 2017 2018
YoY Funding Rounds
YoY Funding and Rounds
Market: Pre-assessed Job Platform

Student Solutions > Employability > Pre-assessed Job Platform: Top Companies
Analyst’s Pick
community
Ventures and 11 Other Investors
General Atlantic, Salesforce, Khosla Ventures and 8
Other Investors
CodeFights (2014, San Francisco, $12.4M)
Gamified platform for testing programming skills
Minicorn. Stage: Series A
E.ventures, SV Angel, Felicis Ventures and 12 Other
Investors
Cloud based online recruitment solution for
technical hiring
Prime Venture Partners, DHI Group, Beenos and 9
Other Investors
Analyst’s Pick
Stockroom (2015, Hyderabad, $70k)
Online challenge based hiring platform
Editor's Pick. Stage: Seed
Satya D Sinha, Gyanendra Singh

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
55
Student Solutions > Employability > Pre-assessed Job Platform: Leaderboard
Better than Market Average
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 HackerRank 2009 Palo Alto Series C $58.2M 5 - - - - 25k - - 12 - - 2.9k 13%
4.9 Pymetrics 2012
New York
City
Series B $58M 5 - 3 - - 2.8k 75k 261 6 97 59% 333 14%
4.5 HackerEarth 2012 Bangalore Series A $5M 5 - - - 4 13k - - 8 - - 1.1k 9%
3.8 Hackajob 2014 London Series A $7.4M 3 - - - - 3.7k - - 5 - - -11 -
3.4 CodeFights 2014
San
Francisco
Series A $12.4M 4 - - - - - - - 3 - - - -
3.4 Codility 2009
San
Francisco
Seed $73k 1 - - - - 3.6k - - 3 - - 124 4%
3.3 TechGig 2000 Noida Unfunded - - - 4 - - 4.1k 300k 2.7k 2 243 10% 108 3%
3.0 Sqore 2010 Stockholm Series A $10.9M 4 - - - - - - - 3 - - - -
2.9 Stockroom 2015 Hyderabad Seed $70k 2 - - - - 187 - - 1 - - 14 8%
2.7 DoSelect 2012 Bangalore Seed $490k 1 - - - - 497 - - 2 - - -2 -
2.6 Agorize 2011 Paris Series A $2.9M 2 - - - - 2.5k - - 1 - - -50 -2%
2.6 Virtuleap 2016 Bangalore Unfunded - - 5 - - - 541 - - 3 - - 149 38%
2.6 Lytmus 2013
San
Francisco
Series A $7.2M 1 - - - - 361 - - 1 - - -5 -1%
2.5
ChallengeRo
cket
2015 Warsaw Funded - - - - - 4 382 - - - - - 67 21%
2.5 Skillenza 2013 Bangalore Seed $1M 3 4 - - 3 - - - 2 - - - -

Incubators Y Combinator (#1), 500 Startups (#1)
Seed New Enterprise Associates (#1), SV Angel (#1)
Series A/B University Ventures (#2), Rethink (#1)
Series C+ Norwest Mezzanine Partners (#1), Five Points Capital (#1)
AcadView Oct - 2018
Acq by UpGrad
The Firehose Project Oct - 2018
Acq by Trilogy Education Services
$14M - Series A
Lambda School (2017, San Francisco,
$18.1M)
$5M - Angel
Verzeo (2017, Bangalore, $5M)
Seed
$4M - Seed
$18.1M)
$720k - Seed
Parker Dewey (2015, Chicago, $720k)
$294k - Seed
Workkola (2015, Barcelona, $294k)
$8.5M - Series A
MissionU (2016, San Francisco, $11.5M)
$120k - Seed
$18.1M)
$2M - Seed
SVAcademy (2017, San Francisco, $2M)
$50M - Series B
Oct 2018
Ronnie Screwvala’s UpGrad buys job skilling platform
Acadview, VCCircle
Oct 2018
Chelsea Groton Bank Joins iGrad to Provide Financial
Wellness Education, Financial Opportunities Network
Oct 2018
Innovate+Educate and PAIRIN Announce Partnership to
Create Meaningful Work Opportunities for Underserved
Populations, ePRNews
Oct 2018
Trilogy Education acquires career services and coding
instruction platforms, Staffing Industry Analysts
Oct 2018
Lambda School Raises $14M to Grow Coding School
Offerings, EdSurge
Sep 2018
Career Step Joins with Hazard Community and Technical
College and Eastern Kentucky Concentrated Employment
Program, Inc. to Provide Online Education, PRWeb
Sep 2018
Edtech startup Verzeo secures ₹36 crores in series A
funding, The Indian Wire
Sep 2018
Fuzu Announces 500,000 Registered Users Milestone in
Uganda, PC Tech Magazine
May 2018 LawSkills.in offers law studies in local lingo, Indiatimes
May 2018
Kenyan recruitment startup Fuzu expands to Uganda, Disrupt
Africa
Apr 2018
RCM Health Care Services and Career Step Declare
Partnership to Hire Military Spouses, GlobeNewswire
Apr 2018
Kenya-based recruitment site to expand to Uganda, AIM
Group
Nov 2017
An edtech firm connecting students secures €250k seed
investment, Bdaily
News
3
3
9
25
70
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Student Solutions > Employability > Career Readiness Programs: Market Factsheet
56
Exits
Recent InvestmentsCompanies providing courses and
resources for students to acquire
necessary skills for job placement
UniCareer
Revature
(2015, Reston, $20M)
Lambda School
LearnUp
Graduation Alliance
(2007, Salt Lake City, $12.8M)
Top Companies
Higher Education > Market Details > Market: Career Readiness Programs
0
2
4
6
8
10
$0k
$10M
$20M
$30M
$40M
$50M
$60M
$70M
2014 2015 2016 2017 2018
YoY Funding Rounds
Market: Career Readiness Programs

Student Solutions > Employability > Career Readiness Programs: Top Companies
Analyst’s Pick
Revature (2015, Reston, $20M)
Career readiness courses for higher education
students
University Ventures, Eden Capital, USA Funds
Lambda School (2017, San Francisco, $18.1M)
Career readiness courses for students
Editor's Pick. Stage: Series A
GV, Stripe, Tandem Capital and 7 Other Investors
Online instructor-led courses for college students
and recent graduates

58
Student Solutions > Employability > Career Readiness Programs: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Fuzu 2013 Helsinki Seed $1.9M 1 - - - - 2k - - 5 - - 412 26%
4.8 Pairin 2012 Denver Seed $789k 2 5 - - - 544 - - 5 - - 68 14%
4.6 SVAcademy 2017
San
Francisco
Seed $2M 1 - - - 5 90 - - 1 - - 48 114%
4.5
Graduation
Alliance
2007
Salt Lake
City
Series B $12.8M 5 - - - - 528 - - - - - 32 6%
4.5 Revature 2015 Reston Series A $20M 1 3 - - 3 605 - - 6 - - 82 16%
4.4 SkillTrain 2013 Chennai Seed - 1 - 4 - - 686 30k 332 - 26 8% 69 11%
4.2
Parker
Dewey
2015 Chicago Seed $720k 1 - - - - 1.1k - - - - - 536 95%
4.2 MissionU 2016
San
Francisco
Series A $11.5M 1 - - - 4 8.1k - - 1 - - -181 -2%
4.0
Lambda
School
2017
San
Francisco
Series A $18.1M 3 4 - - 4 13k - - 2 - - -933 -7%
3.7
IDreamCaree
r
2012 Delhi Seed - 3 - - - - 184 - - 2 - - 10 6%
3.6 Verzeo 2017 Bangalore Seed $5M 2 - - - 3 3 - - 1 - - 1 50%
3.5 LearnUp 2012
San
Francisco
Series B $17.4M 3 - - - - 908 - - 1 - - -17 -2%
3.5 Career Step 1992 Provo Acquired - 3 - - - - 1.7k - - 8 - - -60 -3%

Incubators 500 Startups (#4), Startup Wise Guys (#2)
Seed Wayra (#2), Blume Ventures (#1)
Series A/B Kapor Capital (#2), ARTIS Ventures (#2)
Series C+ Reach Capital (#1), Omidyar Network (#1)
Looksharp Feb - 2017
Acq by WayUp
Tyba Apr - 2016
Acq by Graduateland
LetsIntern Dec - 2015
Acq by Aspiring Minds
Collegefeed Apr - 2015
Acq by AfterCollege
Experience Jun - 2014
Acq by ConnectEDU
Doostang Jul - 2011
Acq by Universum Global
Milkround Sep - 2006
Acq by NewsCorp for $37.4M
$40M - Series C
Handshake (2012, San Francisco,
$74M)
$6.9M - Angel
Debut App (2015, London, $9.8M)
Angel
GigIndia (2016, Pune)
$1.4M - Seed
GradTouch (2010, Manchester, $955k)
$378k - Series A
Glints (2013, Singapore, $3M)
$782k - Seed
Awign (2016, Bangalore, $922k)
Oct 2018
Early Career Network Handshake Raises $40 Million in
Series C Funding Led By EQT Ventures To Increase Access to
Opportunity to College Students, PR Newswire
Oct 2018
EQT Ventures leads Series C round for college students
career network Handshake, PE Hub
Oct 2018 Daily funding roundup - October 31st, 2018, Vator
Sep 2018
Employee Recommended Workplace Award establishes
three recruitment community partners, CNW
May 2018
Recruitment App Debut Raises $6.7 Million To Rip Up
Résumés, Forbes
Mar 2018
Micro-Jobs Providing Startup GigIndia Raises Seed Funding
From Angel Investors, Inc42
Mar 2018 FutureFuel Releases 2017 Results, DirectorsTalk Interviews
Mar 2018
Manchester firm behind graduate hiring platform secures
£250k investment, Bdaily
Feb 2018
SG: HRnetGroup makes strategic investment in jobs platform
Glints, Deal Street Asia
Jan 2018
Unitus Seed Fund invests Rs5 crore in workforce
outsourcing startup Awign, Livemint
Dec 2017
How To Recruit Effectively Using The Best Industry Insights ,
Hospitality Net
Nov 2017 FutureFuel reports Q3 results, Seeking Alpha
Oct 2017
InternsME.com receives first disbursement from MBRIF |
tahawultech.com, Tahawul Tech
Oct 2017
PSI Partners With Grad DNA For Mobile Assessment, News
Experts
News
7
5
15
69
223
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Student Solutions > Employability > Jobs & Internship Platform: Market Factsheet
59
Exits
Recent InvestmentsPlatform that allows college
students and recent graduates to
look for and apply to jobs across
sectors
Handshake
(2012, San Francisco, $74M)
Debut App
(2015, London, $9.8M)
Looksharp
InternMatch
Doostang
(2005, Palo Alto, $5.8M)
Top Companies
Higher Education > Market Details > Market: Jobs & Internship Platform
0
2
4
6
8
10
12
14
16
$0k
$10M
$20M
$30M
$40M
$50M
$60M
2014 2015 2016 2017 2018
YoY Funding Rounds
Market: Jobs & Internship Platform

Student Solutions > Employability > Jobs & Internship Platform: Top Companies
Analyst’s Pick
EQT Ventures, Omidyar Network, Reach Capital and
8 Other Investors
Awign (2016, Bangalore, $922k)
Job board for internships
Capria, Dheeraj Sood, Sidharth Rozario and 3 Other
Investors
HiredGrad (2014, London, $280k)
Online job matching portal
FutureFuel (2015, Boston)
Job/employer discovery platform for graduates to
pay off debts
Editor's Pick. Stage: Funded
Reach Capital
Analyst’s Pick
InternsME (2011, Dubai)
Job portal for students and recent graduates
Editor's Pick. Stage: Funded
Bolurfrushan International Group

61
Student Solutions > Employability > Jobs & Internship Platform: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Handshake 2012
San
Francisco
Series C $74M 4 2 - - - 3.1k - - 6 - - 768 33%
4.9 Debut App 2015 London Seed $9.8M 2 - 4 - - 3.3k 75k 473 2 60 15% 53 2%
4.9 Frapp 2014 Mumbai Seed $306k 2 - 4 - - 966 750k 12.1k - 2.8k 29% 111 13%
4.4 GigIndia 2016 Pune Seed - 1 - 4 - 4 280 300k 4.1k 1 994 32% 49 21%
4.4
GetMyFirstJo
b
2011 Havant Seed $2.6M 3 - - - - 10k - - 2 - - 677 7%
4.4 Awign 2016 Bangalore Seed $922k 2 - 4 4 4 118 30k 475 2 353 289% 1 1%
3.9 Internshala 2010 Gurgaon Unfunded - - - 4 - - 3.9k 750k 8.4k 1 2.5k 41% 317 9%
3.9 Looksharp 2008
San
Francisco
Acquired $9.6M 8 - - - - 13k - - 3 - - -700 -5%
3.7
Graduatelan
d
2010
Copenhage
n
Seed $915k 2 - 4 - - 1.1k 8k 19 1 - - 7 1%
3.6 Tyba 2011 Madrid Acquired $4.7M 3 - - - - 3.2k - - 4 - - -110 -3%
3.5 InternMatch 2009
San
Francisco
Series A $6.3M 5 - - - - 152 - - - - - 3 2%
3.5 Zippia 2015
San
Francisco
Seed $350k 3 - - - - 127 - - - - - 41 48%
3.4 Glints 2013 Singapore Series A $3M 5 - - - - - - - 3 - - - -
3.4 GradTouch 2010 Manchester Seed $955k 6 - - - - 5k - - 1 - - -83 -2%

Higher Education > Market Details > Market: Virtual
Market: Virtual

Market: Virtual

Higher Education > Market Details > Market: Multi-Disciplinary
Companies Created 72 | Funded 14 | Total Funding $76.3M
Market: Multi-Disciplinary

Higher Education > Market Details > Market: Communication Platform
Market: Communication Platform

Higher Education > Market Details > Market: Enrollment Management
Market: Enrollment Management

Higher Education > Market Details > Market: Alternative Credit Providers
Market: Alternative Credit Providers

Higher Education > Market Details > Market: Proctoring Solutions
Market: Proctoring Solutions

Higher Education > Market Details > Market: Rental
Market: Rental

Market: Rental

Higher Education > Market Details > Market: Virtual Classroom Platform
Market: Virtual Classroom Platform

Higher Education > Market Details > Market: Marketplace
Market: Marketplace

Market: Marketplace

Higher Education > Market Details > Market: Colleges
Market: Colleges

Market: Colleges

Higher Education > Market Details > Market: Lecture Capture
Market: Lecture Capture

#1 Top Markets of Early Stage Investors
Higher Education > Market Details > Market: Education Loan & Scholarships
Market: Education Loan & Scholarships

#1 Other Notable Markets
Higher Education > Market Details > Market: Study Notes
Market: Study Notes

Market: Study Notes

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
101
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/2)
103
Performance indicators of public companies in Higher Education
IPO Date Company
IPO
Mcap
Exchange
Ticker
Feb 2017
Laureate (1998, Baltimore)
Provides online and campus based courses at both UG and PG levels
$2.4B NASDAQ:LAUR
Apr 2016
51liucheng (2011, Shanghai)
Online platform for overseas education
NEEQ:836400
Nov 2015
Instructure (2008, Salt Lake City)
$425M NYSE:INST
Mar 2014
2U (2008, Annapolis)
SaaS based virtual classroom platform for online degree programs
$509M NASDAQ:TWOU
Nov 2013
Chegg (2005, Santa Clara)
Provider of tutoring, internship, book rental and related services for university students
$1B NYSE:CHGG
Jun 2010
Higher One (2000, New Haven)
$661M ONE
Apr 2009
Bridgepoint Education (2004, San Diego)
Virtual school and SaaS platforms for institutes for personalised learning of students
$558M NYSE:BPI
Jun 2004
Blackboard (1997, Washington D.C.)
LMS for educators, corporations and government organizations
$352M NASDAQ:BBBB
Jul 2002
Tribal Group (1999, Bristol)
SaaS platforms for educational and training organisations
LON:TRB
Higher Education > Exit Outlook > Public Companies

Public companies (2/2)
104
Performance indicators of public companies in Higher Education
IPO Date Company
IPO
Mcap
Exchange
Ticker
Dec 1999
$162M NASDAQ:ECLG
National American University (1941, Rapid City)
Virtual school for higher education
Aztec Software (1980, Springfield Township)
Test preparation provider
DRS Data Services (1969, Milton Keynes)
Assessment platform for educational institutes
Pyoopil (2013, Delhi)
Web based school and learning management system for institutions
Higher Education > Exit Outlook > Public Companies

Notable Acquisitions (1/3)
105
Notable Acquisitions in Higher Education
Higher Education > Exit Outlook > Notable Acquisitions
2018 YTD
Acquirer: Insight Venture Partners
Deal: $110M
Interfolio (1999, Washington D.C., $13.2M)
Provides platform for portfolio creation and hiring
Acquirer: Wellspring International
Quad Learning (2012, Washington D.C., $37.3M)
Provides American Honor Program in partnership
with community colleges
Acquirer: Wiley Education Services
Deal: $200M
Learning House (2001, Louisville)
Virtual classroom platform for online degree
programs
2017
Acquirer: IK Investment Partners
Deal: $83.4M
Studienkreis Die Nachhilfe (1974, Bochum)
Online and offline tutoring for K-12 and Higher ed
students
Acquirer: Byju's Classes
Tutorvista (2005, Bangalore, $88M)
Online tutoring services provider for school and
college students
2016
Acquirer: Follett
Valore (2005, Boston, $21.9M)
Online platform for educational resources to
students
Acquirer: Blackboard Deal: $260M
Higher One (2000, New Haven, $91.5M)

106
2015
Acquirer: Muirlands Capital
Education Dynamics (2005, Hoboken, $30.5M)
Prospecting and student retention platform for
Acquirer: ProQuest Deal: $500M
Ex Libris (1986, Jerusalem, $4M)
Library automation solutions.
Acquirer: TPG
Ellucian (1968, Fairfax)
Software solutions provider for higher education
institutes
2014
Acquirer: Advisory Deal: $850M
Royall & Company (1983, Richmond)
Enrollment and financial aid solution
Acquirer: Graduation Alliance
ConnectEDU (2002, Boston, $66.5M)
Web-based college admission and career
counselling
Acquirer: Insight Venture Partners
Deal: $752M
iParadigms (1998, Oakland)
Web-based plagiarism & student feedback software
2013
Acquirer: Intel
Kno (2009, Santa Clara, $92.7M)
Adaptive reading platform

107
2012
Acquirer: Apollo Global Management
Deal: $2.5B
$20M)
Publisher of educational content and digital
learning solutions
2011
Acquirer: Providence Equity Partners
Deal: $1.6B
LMS for educators, corporations and government
organizations
Before 2008
Acquirer: Pearson Deal: $477M
Acquirer: CIG Deal: $222M
ProQuest (2008, Ann Arbor)
Online platform for research

Most Active Acquirers
108
Higher Education > Exit Outlook > Most Active Acquirers

Acqui-hires
109
List of Acqui-hires in Higher Education
Excludes all details for Chinese companies
Date Target
Oct-16 Pyoopil Acq by UpGrad
Mar-16 StudyCloud Acq by Avant
Oct-13 Hacker Meter Acq by Pinterest
Higher Education > Exit Outlook > Acqui-hires
View all 3 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
110
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Higher Education > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Higher Education; Last 5 years (Dec 2013 - Nov 2018)
Index of Most Active VC & PE Investors
SEED STAGE
Rethink (3 Investments)
Learn Capital (3 Investments)
Blume Ventures (3 Investments)
Reach Capital (3 Investments)
Social Capital (3 Investments)
1776 (3 Investments)
Kapor Capital (2 Investments)
Felicis Ventures (2 Investments)
Bisk Ventures (2 Investments)
GSV AcceleraTE (2 Investments)
LaunchCapital (2 Investments)
Nesta Impact Investments (2 Investments)
Right Side Capital Management (2 Investments)
East Ventures (2 Investments)
EARLY STAGE
New Markets Venture Partners (4 Investments)
SV Angel (3 Investments)
Owl Ventures (3 Investments)
Rethink (2 Investments)
Learn Capital (2 Investments)
First Round Capital (2 Investments)
Floodgate Fund (2 Investments)
City Light Capital (2 Investments)
GSV Capital (2 Investments)
Northzone (2 Investments)
Accel Partners
FirstMark
Sequoia Capital
New Enterprise Associates
LATE STAGE
GSV Capital (2 Investments)
Rethink
New Markets Venture Partners
Insight Venture Partners
GSV AcceleraTE
Arc Capital Development
SJF Ventures
Reach Capital
Intel Capital
CyberAgent Ventures
Great Oaks Venture Capital
Atomico
Georgian Partners
Warburg Pincus
Omidyar Network

University Ventures
113
Portfolio in Higher Education | Exits | Funds Link | Website | LinkedIn | Twitter
Higher Education > Investors > University Ventures
People
Investments
[Minicorn] CampusLogic (2011, Gilbert, $76.6M, Series C)
[Minicorn] Revature (2015, Reston, $20M, Series A)
Career readiness courses for higher education students
[Editor's Pick] Examity (2012, Needham, $24M, Series A)
Proctored examination provider
[Editor's Pick] Motimatic (2015, San Francisco, $14.6M, Series A)
Online platform with a focus on advertising technology for students
Higher Education Notable Portfolio
[Minicorn] ProSky (2013, Mountain View, $2.7M, Seed)
SaaS platform for project based learning
[Editor's Pick] Imbellus (2016, Los Angeles, $23M, Series A)
Assessment solutions
[Editor's Pick] EverTrue (2010, Boston, $20.5M, Series B)
Volunteer management, alumni management and fundraising tool
[Editor's Pick] MPOWER Financing (2014, Washington D.C.,
$6.5M, Series A)
Online marketplace for student loans.
[Editor's Pick] edX (2012, Boston, Funded)
Non-profit MOOC platform
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Ryan Craig
Co-Founder &
Managing Director
Daniel Pianko
Co-Founder &
Managing Director
Geographical Spread Stage of Entry
Nov 2018
EdX enrols in Unicaf’s $28m series B, Global Corporate
Venturing
Nov 2018
Examity Ranked Number 119 Fastest Growing Company
in North America on Deloitte's 2018 Technology Fast
500™, PR Newswire
Sep 2018
CampusLogic Taps Education Economist, Aid Expert to
Lead Research and Analytics Efforts, PR Newswire
Jun 2018
Arizona's Largest Community College Taps Mobile
Technology to Tackle "Verification Melt", PR Newswire
Apr 2018
CampusLogic Raises $55 Million to Bring Its
Comprehensive Student Financial Services Platform to
6,000+ Colleges and Universities, PR Newswire
Dec 2017
Leading Student Financial Services Software Company
Welcomes New Chief People Officer to Support Fast
Growth in Higher Education, PR Newswire
Apr 2017
Veteran Startup Executive Joins CampusLogic as Chief
Financial Officer, PRWeb
Acrobatiq
(2013, Pittsburgh, $9.8M)
Acq by VitalSource - Sep 2018
1 1
2
2
5
8
2013 2014 2015 2016 2017 2018
Follow On New Investments
6
-
-
8
7
Undisclosed
Series C+
Series B
Series A
Seed19
1
1
-
-
US
Europe
Canada

Rethink
114
Higher Education > Investors > Rethink
Investments
[Soonicorn] Civitas Learning (2011, Austin, $88.9M, Series D)
Predictive analytics platform for personalised education advice
Higher Education Notable Portfolio
[Unicorn] Pluralsight (2004, Cedar Valley, $239M, Public)
Online programming and creative learning courses
[Soonicorn] EverFi (2008, Washington D.C., $252M, Series D)
Platform for teaching and certification programs on literacy and
critical skills
[Soonicorn] Degreed (2012, San Francisco, $85.6M, Series C)
e-Portfolio assessment
[Soonicorn] BrightBytes (2012, San Francisco, $51.5M, Series C)
Data analytics platform for educational institutions
[Soonicorn] Classy (2006, San Diego, $48M, Series C)
Fundraising platform service provider for non-profit organizations.
[Soonicorn] Voxy (2010, New York City, $39M, Series B)
English language learning through online courses and tutoring
[Minicorn] Ellevest (2014, New York City, $55.6M, Series B)
Women focused automated investment platform.
[Minicorn] Ellevation (2011, Boston, $41.3M, Series B)
B2B assessment platform for english language teachers
[Minicorn] Rethink (2007, New York City, $16.8M, Series C)
Web-based educational and personalized behavior therapy to children
with autism
[Minicorn] Abl Schools (2015, San Francisco, $12M, Series A)
School operations software for managing time and resources
[Minicorn] Allovue (2013, Baltimore, $9M, Series A)
Education resource optimization platform for K-12 schools
Top Exits Recent News on Fund & Portfolio
Nov 2018
2U Announces 15-Year Contract Extension with Simmons
University, Citybizlist
Nov 2018 2U reports Q3 beats, in-line guidance, Seeking Alpha
Oct 2018
2U, Inc. and The George Washington University Expand
Partnership to Deliver 10 New Short Courses, PR
Newswire
Oct 2018
2U, Inc. Chief Strategy and Engagement Officer David
Sutphen Honored with 2018 Washington Business
Journal C-Suite Award, PR Newswire
Oct 2018
2U, Inc. Receives Prince George's Chamber of Commerce's
"Business of the Year" Award, PR Newswire
Sep 2018
2U CFO Cathy Graham Named 2018 Women Who Mean
Business Honoree, Citybizlist
Aug 2018
2U, Inc. Partners With Vanderbilt University School of
Engineering to Deliver Engineering@Vanderbilt: Online
Graduate Degrees in Computer Science and Engineering
Management, PR Newswire
Aug 2018 2U beats by $0.03, beats on revenue, Seeking Alpha
McGraw-Hill Education
Acq by Apollo Global
Management - Nov 2012
2U
(2008, Annapolis, $95.9M)
IPO - Mar 2014
1 1
1
4
1
2013 2014 2015 2016 2017 2018
7
1
-
3
3
Undisclosed
Series C+
Series B
Series A
Seed14
-
-
-
-
US

Learn Capital
115
Higher Education > Investors > Learn Capital
People
Investments
[Soonicorn] Coursera (2012, Mountain View, $210M, Series D)
Massive Open Online Courses (MOOC) provider
[Soonicorn] Udemy (2010, San Francisco, $173M, Series D)
Marketplace for online courses
[Soonicorn] AltSchool (2013, San Francisco, $137M, Series B)
Tech-enabled chain of micro-schools focussing on Social and Emotional
Learning
[Soonicorn] Varsity Tutors (2007, St. Louis, $107M, Series C)
Tutoring for test preparation
[Soonicorn] Wonder Workshop (2012, San Mateo, $78.3M,
Series C)
Dash and Dot, teaching basics of robotics to kids through play
[Soonicorn] BrightBytes (2012, San Francisco, $51.5M, Series C)
Data analytics platform for educational institutions
[Soonicorn] Schoola (2012, San Francisco, $44.5M, Series C)
A donation based crowdfunding portal for school programs
[Soonicorn] MasteryConnect (2009, Salt Lake City, $33.8M,
Series C)
K-12 cloud based student's assessment platform
[Minicorn] ClassDojo (2011, San Francisco, $31.1M, Series B)
Behaviour feedback platform used by teachers and students
[Minicorn] Teachable (2013, New York City, $12.5M, Series A)
Cloud-based course creation platform
[Minicorn] VersaMe (2015, Palo Alto, $9.3M, Series B)
Device for mental development of infants
[Minicorn] NoRedInk (2012, San Francisco, $8.2M, Series A)
Web-based learning platform to improve english vocabulary
Top Exits
Recent News on Fund & Portfolio
Greg Mauro
Co-Founder &
Managing Partner
Rob Hutter
Co-Founder &
Managing Partner
Oct 2018
Caribbean Examinations Council Pilots E-Certificates on
the Blockchain, Newswire
Oct 2018
Cengage Partners with MobLab to Integrate Gaming into
MindTap Economics Courses, PR Newswire
Oct 2018
NovoEd Announces Acquisition by Devonshire Investors,
Citybizlist
Oct 2018
Learning Machine Wins Grand Prize In Xingshi-Cup
International Industrial Design Hackathon, PR Newswire
Jun 2018
Future Workplace and NovoEd Launches Online Course
for HR Professionals, Technology-Signals
Jun 2018
Southern New Hampshire University Licenses Learning
Machine Platform to Issue Blockchain Credentials, Digital
Journal
May 2018
Chegg Deepens Investment In Writing And AI With
Acquisition Of WriteLab, PR Newswire
May 2018
With MIT launched, Learning Machine raises seed to
replace paper with blockchain credentials, TechCrunch
May 2018
Shearwater Raises $600000 in Seed Funding to Connect
Students with Mentors, EdSurge
Uversity
Acq by TargetX - Jul 2015
NovoEd
Acq by - Oct 2018
WriteLab
(2013, Berkeley, $3.1M)
Acq by Chegg - May 2018
1 1 1
2
1
2013 2014 2015 2016 2017 2018
8
-
1
1
4
Undisclosed
Series C+
Series B
Series A
Seed14
-
-
-
-
US

Blume Ventures
116
Higher Education > Investors > Blume Ventures

Reach Capital
117
Higher Education > Investors > Reach Capital

Social Capital
118
Higher Education > Investors > Social Capital

1776
119
Higher Education > Investors > 1776

Kapor Capital
120
Higher Education > Investors > Kapor Capital

Felicis Ventures
121
Higher Education > Investors > Felicis Ventures

Bisk Ventures
122
Higher Education > Investors > Bisk Ventures

GSV AcceleraTE
123
Higher Education > Investors > GSV AcceleraTE

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
124
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

University Ventures
125
Higher Education > Investors > University Ventures

New Markets Venture Partners
126
Higher Education > Investors > New Markets Venture Partners

SV Angel
127
Higher Education > Investors > SV Angel

Owl Ventures
128
Higher Education > Investors > Owl Ventures

Rethink
129
Higher Education > Investors > Rethink

Learn Capital
130
Higher Education > Investors > Learn Capital

First Round Capital
131
Higher Education > Investors > First Round Capital

Floodgate Fund
132
Higher Education > Investors > Floodgate Fund

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