SplashLearn Raises $18 Million in Series C Funding Round From Owl Ventures & Accel
SplashLearn, the US-headquartered learning company began 2021 on a high note raising $18 million in Series C funding round led by Owl Ventures. San Francisco based Owl Ventures is the largest edtech sector-focused venture capital firm in the world. Accel, who earlier invested $7 million in Series B, also participated in this round.
SplashLearn was incorporated in 2010. The bulk of the business comes from the United States and currently, students in one in every three schools in the country use SplashLearn. SplashLearn is a game-based learning program that intelligently adapts to each child’s learning ability and helps them master skills at their own pace. Its curriculum covers pre-kindergarten through grade 5 for math and reading. With a strong focus on engagement and efficacy, it has over 4,000+ curriculum-aligned games and activities, designed to create an exciting learning experience for kids.
With the onset of Covid-19, SplashLearn saw a surge of almost 3x in adoption, as more students turned online and families began seeking educational support. In 2020, more than 10 million new users joined the SplashLearn program. The demand came in not only from the US but also the UK, Australia, and Canada. In the latter half of 2020, SplashLearn expanded its offering beyond the math program to include reading and also launched a personalized tutoring product, owing to growing demand from parents and teachers.
“We envision a world where every child would learn, fearlessly. The games within the program aim to shift the current narrative around learning, turning it into an experience that augments the child's desire to learn by making learning itself rewarding for every child. Thus reducing their fear of failure, and creating what we like to call fearless learners'' said Arpit Jain, CEO and co-founder, SplashLearn. “The funds will primarily be used for growth and scaling our new vertical - tutoring”, he added.
“SplashLearn is well poised to bring about a distinct change in the digital learning space with its unique blend of scientifically designed curriculum and its pedagogical methods with global appeal. SplashLearn fits into our objective of supporting innovative companies in the edtech space, helping drive a paradigm shift in the way education is imparted, bringing it to scale” said Amit A. Patel Managing Director, Owl Ventures, who would be joining the company's board along with Abhinav Chaturvedi.
“We are proud to partner and support SplashLearn which is bringing about a transformation in the digital learning space,” said Abhinav Chaturvedi, Partner, Accel, who joined the company’s board in 2018.
SplashLearn, formerly Splash Math, creates engaging learning experiences built to transform children into fearless learners. Its PreK-5 game-based learning program is curriculum-aligned and has an adaptive algorithm that offers each child a personalized learning experience that is fun and immersive. It is currently used in 150+ countries and has benefitted more than 40 million kids around the world.
SplashLearn is available across all digital platforms (iOS, Android and Web). For more information, visit www.splashlearn.com. Follow SplashLearn on Facebook, Instagram and Twitter.
About Owl Ventures
Owl Ventures is the largest venture capital fund in the world focused on the education technology market with over $1.2 billion in assets under management. The Silicon Valley-based firm invests in the world's leading education technology companies across the education spectrum encompassing PreK-12, higher education and future of work (career mobility/ professional learning). Owl Ventures has deep domain expertise and leverages a global network of Limited Partners, investors, and strategic partners to help entrepreneurs scale their businesses into transformative category-leading companies. Learn more at www.owlvc.com
About Accel Accel is a global venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of private company growth. Acko, Atlassian, Blackbuck, BookMyshow, Bounce, Braintree, BrowserStack, CrowdStrike, CureFit, Deliveroo, DJI, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Kayak, Lynda.com, Qualtrics, Rovio, Slack, Spotify, Supercell, Swiggy, Tenable, UiPath, UrbanClap and Venmo are among the companies the firm has backed over the past 35+ years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths. Because greatness doesn't have a stereotype. For more, visit www.accel.com or www.twitter.com/accel_india