Nearpod Notches $21M in Series B Round to Expand Digital, Virtual Learning Experiences
Monday, March 6, 2017
Nearpod, which offers a suite of tools for teachers to create and share multimedia-rich lessons, presentations and digital activities with students, has raised $21 million in a Series B round led by Insight Venture Partners.
A flurry of existing investors also chipped in, including Reach Capital, Krillion Ventures, AGP Tech, GSV Acceleration Fund, Storm Ventures, the Stanford-StartX Fund, the Knight Enterprise Fund, Arsenal Ventures, Marc Benioff, Scott Cook and his wife, Signe Ostby. Nearpod has now raised $30.2 million in venture capital.
The funding will be used to “put a senior team in place” and “bring the skills and talents we need to talk to different stakeholders, such as administrators,” says Guido Kovalsky, the company’s CEO and co-founder, in an interview. “The more we grow, and the more we talk about district-wide implementations, the more we need to bring different talent with knowledge of state standards and curriculum expertise,” he adds.
Founded in 2012, Nearpod initially launched its “interactive lecture” platform for iPads, at a time when many schools and districts swooned over the tablets. The company has since expanded its platform to be compatible with all devices. The app initially focused on allowing teachers to build their own multimedia-rich presentations and assessments, beam them to students’ devices, and monitor their activities.