Knowledgehook, a Kitchener, Ontario-based mathematics learning platform, has raised C$20 million in a Series A financing. The round was led by a local edtech investment fund and joined by Mesoamerica’s Alexandria Corp, Nelson Education, Ideal Ventures and Nicoya Ventures. It follows Knowledgehook’s 2016 seed round that included John Abele’s North Point Ventures.
Canadian EdTech Raises $20M in Series A Funding to Meet Surging Demand for its Breakthrough Technology
TORONTO, Oct. 15, 2020 (GLOBE NEWSWIRE) — Knowledgehook, the world’s most comprehensive mathematics learning platform, closes a $20 Million Series A round of financing, led by a London-based EdTech investment fund with participation from Mesoamerica’s Alexandria Corp., Nelson Education, Ideal Ventures, and Nicoya Ventures. This latest round of financing follows Knowledgehook’s seed round that included John Abele’s North Point Ventures.
Knowledgehook’s AI-enabled platform supports district-wide math improvement by scaling anytime, anywhere professional learning to build teacher capacity, while engaging students and providing actionable insights for parents. Teachers have access to content aligned to their jurisdiction’s curriculum (including US Common Core, Texas, UK, Mexico and Ontario) available in English, French and Spanish. Knowledgehook’s proprietary technology harnesses the power of data to track where each student is on their math journey. The program provides real-time insights on student learning gaps and helps teachers develop their understanding of the math concepts related to their students’ challenges, enabling them to adjust instruction and monitor student progress.
Knowledgehook’s research-based solution has garnered industry leading partnerships and investments from the most recognized global education brands, such as Nelson, Radix, Spectrum, Eastpoint, Nasco Education and the University College of London, the global leader in education research.
“Knowledgehook was inspired by my own struggle with math as a kid. Having the right, personalized guidance makes all the difference and every student deserves to have a teacher who has access to the best pedagogical tools, and parents who have insights into their learning challenges,” explains Co-Founder and Chief Executive Officer of Knowledgehook, Travis Ratnam.
Knowledgehook actively collaborates with Ministries and Departments of Education while also working directly with school districts, to offer curriculum-aligned solutions. The company currently empowers educators across more than 100,000 schools. By 2021, its leadership aims to extend its solution’s reach to 50,000,000 students globally. “We have received growing interest for our technology and expertise to be applied to other K-12 subjects and we look forward to expanding our solution to empower more educators and support the learning of students to become the problem-solvers of tomorrow,” states Ratnam.
As the COVID-19 pandemic continues to impact student learning, the education system is presented with a new set of challenges. Unsurprisingly, EdTech start-ups are racing for investments in hopes to remain relevant in this new hybrid educational context.
“The pandemic is more an accelerant to the digital transformation of education; these changes were already underway,” states Knowledgehook’s Chief Financial Officer, Qamar Qureshi. Knowledgehook, which offers district-wide classroom licenses, as well as Netflix-like home subscriptions, has experienced consistent growth since entering the market, eclipsing a 4,300% growth in user base with a 100% client retention and a net dollar retention greater than 170% in 2019, ahead of the current pandemic-led increase in demand. “As EdTech demand and investment surges, we have been selective in bringing in strategic investors that further accelerate our vision outside of simply adding capital to our balance sheet,” Qureshi adds.
“Now more than ever, we know that teachers and parents both play an essential role in helping children learn. The pandemic has heightened the need for digital solutions that focus on building teacher capacity to deliver high-quality math instruction both in classrooms and in remote learning environments. Knowledgehook, designed to empower educators, is this next generation of EdTech,” says Ratnam.
To learn more about Knowledgehook, visit Knowledgehook.com.
Knowledgehook, a leading educational technology company, empowers hundreds of thousands of teachers and parents to collaboratively support the mathematics learning journey of millions students worldwide. Winner of Google’s Game Changer Award and named Top Disruptor by BNN, its platform analyzes student understanding through engaging assessments, providing real-time personalized solutions to close learning gaps between classroom teaching and at-home learning. Designed by leading numeracy and research experts, Knowledgehook’s Instructional Guidance System is known for reinventing how online technology supports education and educators, while inspiring the problem solvers of tomorrow.
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