OpenEd - Assessment to Instruction with the Largest K-12 Resource Library
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OpenEd - Assessment to Instruction with the Largest K-12 Resource Library
- 1. Assessment to Instruction with the Largest K-12 Resource Library
- 2. Flipped or blended has won • But ed tech doesn’t handle resources well The Problem Common Core isn’t going away • But 70% of teachers don’t know CCSS content * Gates Foundation Survey: http://www.scholastic.com/primarysources/download-the-full-report.htm
- 3. • Largest Common Core aligned resource library – Aligned to all microconcepts via machine learning – Only site with aligned resources to all standards – API used by Renaissance, Pacific Metrics, … (>10MM students) • Quizzes determine just the right resource for each student – Making personalized learning scalable for first time – Only assessment to instruction across all grades/subjects Our Solution
- 4. • Teach concept • OpenEd assesses mastery with only free formative assessment bank • Only OpenEd suggests just right resource to each student Value of Assessment to Instruction Personalized Learning Scalable For the First Time
- 5. 1MM+ videos, games, assessments, homework • From 100s of leading publishers (free/paid) • Mapped to every Common Core microconcept • Machine learning based accurate alignment • Confirmed by leading subject matter experts Operating System for Personalized Learning: Just the Right Resource for Millions of Students Used to find standard aligned resources via API by leading assessment tools/LMSes • Renaissance Learning, Pacific Metrics, others • “Only OpenEd is able to align to our core progression skills accurately” - Renaissance
- 6. #1 Common Core app on Chrome Store #2 Common Core app on Google Play Common Core Quest App
- 7. Traction
- 8. Path to $100M • 200K classrooms with 5 parents/classroom Acquiring teachers for $0.60 • They onboard students and parents • Parents buy access for $9.95 per month 165K teachers engaged • Growing 27% per month Business Model/Go To Market
- 9. Competitor Landscape LMSes Content Analytics Edmodo Moodle Canvas Desire2Learn MasteryConnect Gooru Curriki WatchKnowLearn OERCommons CK12 IXL EdCite Vantage Learning McGraw Hill Pearson
- 10. • 8 engineers: machine learning, full-stack, mobile • 3 curators, 1 direct customer acquisition • founder/CEO, 3 prior exits totaling $600M Board • Richard Ferguson, Chairman, CEO of ACT • Marc Randolph, original CEO of Netflix • Lila Tretikov, CEO, Wikipedia • Tim Connors, PivotNorth Capital Team
- 11. • Leverage teacher traction to build out parent and tutor product Raising $3M convertible debt seed • 20% discount on future series A • Capped at $20MM • 3x principal, 2x interest on CoC Next Steps