By Iris Dorbian
Salt Lake City-based educational tech company MasteryConnect has raised $5 million in funding. The investors were Facebook founder and CEO Mark Zuckerberg and his wife Priscilla Chan.
SALT LAKE CITY–(BUSINESS WIRE)–Education technology leader MasteryConnect today announced that it has secured $5 million in funding from Facebook founder and CEO Mark Zuckerberg and his wife, Priscilla Chan. This additional investment is an extension of the company’s $15.2 million Series B round, bringing MasteryConnect’s total private funding to $29 million. The company will use this additional funding to accommodate and facilitate its rapid growth and increase the reach of its competency-based learning platform.
MasteryConnect is a leader in competency-based learning solutions and creates technology tools that help teachers plan, teach, and measure student progress to improve learning outcomes. The company has experienced exponential growth in the last year, with its technology currently being utilized in 85 percent of U.S. school districts across all states and in more than 170 countries, reaching 2 million teachers. To meet growing demand, MasteryConnect has more than tripled its employee base, expanding from 35 employees in March 2014 to more than 140 today.
“As a principal, I’ve seen how personalized learning helps engage students on a fundamentally individual level and inspire them to reach their potential,” said D’Andre Weaver at Gwendolyn Brooks Preparatory Academy in Chicago. “It can seem difficult and overwhelming for us as educators to personalize education to each individual student in the classroom. But MasteryConnect provides my teachers the tools to do it easily and efficiently, allowing us to provide students with the academic and life skills they will need in college and beyond.”
The demand for competency-based learning tools is at an all-time high. MasteryConnect is a market leader in curriculum, assessment and mastery learning tools for K-12 and provides educators with the solution they need to implement a competency-based learning strategy striving to bridge the gap between students’ thirst for personalized learning and educators’ ability to fill that need.
“We’re grateful for the support of prominent innovators like Mark and Priscilla. The impact of teachers personalizing learning for students is immediate and life changing,” said MasteryConnect CEO Cory Reid. “MasteryConnect is establishing itself as a leader in competency-based education solutions and we’re excited to use this funding to further invest in the development of our platform and to continue providing these solutions to educators.”
In addition to this most recent funding from Zuckerberg and Chan, MasteryConnect is backed by top-tier firm Trinity Ventures, as well as Pelion Ventures, Catamount Ventures, and the Michael and Susan Dell Foundation.
MasteryConnect is the market leader in competency-based learning for K-12. MasteryConnect helps teachers in the trenches identify student levels of understanding in real time against any set of standards in order to personalize learning and improve outcomes. MasteryConnect supports teachers via its cloud-based platform, including Socrative.com, as well as through numerous apps on all web-enabled devices. MasteryConnect is headquartered in Salt Lake City, Utah. For more information, visit MasteryConnect.com.
Read More at: https://www.pehub.com/2015/09/zuckerberg-and-chan-back-edtech-company-masteryconnect/