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The EdTech Episode #18

Dear readers,

Amidst the prominence of online education, Coursera made two interesting announcements: (1) a new product, Guided Projects - very short courses created by individual instructors; and (2) temporary free access for university students. Along with fellow MOOC platforms edX and Futurelearn, Coursera offers a spectrum of courses ranging from individual short courses to full degrees. Now, with Guided Projects, it appears to be pushing into Udemy's territory. 

Meanwhile, two recent fundraising rounds seemed to sum up the zeitgeist. The quarter's largest round to date occurred in late May, when Masterclass, which provides instructional videos from celebrities,
raised US$100M. And in June, Noodle Partners -- an online program management (OPM) company that helps 20+ institutions offer online degrees -- raised US$16M

-- Peter Sahui

Company / Institution News

Coursera has announced a new product, Guided Projects. These are very short, self-paced courses (a few hours to complete) with the content created by individual instructors, not by institutions. Students can use a "virtual", in-browser version of the software that they are learning.

Meanwhile, Coursera has also announced that from 1st June until 31st July, university students can freely sign up for 3,800 Coursera courses by registering with their student email. Students will have until September to finish. 

MasterClass, a US company that sells subscriptions to educational videos by celebrities, has raised a US$100M Series E round. Fidelity led.

Benchling, a US company that provides R&D cloud software for life sciences, has raised a US$50M Series D round. Alkeon led.

Kahoot, the Norwegian provider of an online quiz tool,
raised US$28M through a private placement.

Presence Learning, a US company that provides remote special education services such as speech therapy to K-12 schools, has
raised a US$27M Series D round. Bain Capital Double Impact led.

Noodle Partners, a US online program management (OPM) company, has
raised a US$16M Series B round. The ValueAct Spring Fund led.

CareAcademy, a US provider of online courses for aged caregivers, has
raised a US$9.5M Series A round. Impact America Fund led.

LingoAce, a Singapore-based provider of online Mandarin language learning, has raised a US$7M Series A round. Shunwei Capital led.

NexGenT, a US provider of IT skills training, has
raised US$6M from Leif, a company that provides tools to manage income share agreements.

Classtag, the US developer of a parent-teacher communication tool, has raised a US$5M seed round.

Five V Capital's Fund III has acquired a majority stake (paywall) in Totara Learning, the New Zealand-based developer of a corporate LMS. Consideration was reported to be over A$50M.

has acquired Mathway, the provider of an online maths problem-solving tool. Consideration was US$100M cash (approx 7.7x 2019 net revenue of US$13M) plus up to US$15M in earn-outs over the next three years. 
New Funds

No new EdTech funds have been raised since our last newsletter.
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