Online Community Schoology Receives $15M in Funding

Schoology, an online educational community dedicated to helping teachers engage students and improve educational effectiveness, has gained $15 million in new funding through Intel Capital, Great Oaks Venture Capital and Great Road Holdings.

“Intel is excited to be a part of Schoology’s growth as it strengthens its position in the K-12 market and continues expanding into higher education and international markets,” said John Galvin, vice president of the Sales and Marketing Group at Intel and general manager of Intel Education. “Learning platforms have quickly become one of the fastest growing segments in education technology, and Schoology has emerged as a leader in this space and continues building the best-in-class platform for education.”

According to the Schoology website, its mission is to “reinvent the way technology is implemented in the classroom”.  This is accomplished by offering educators an easy way to assess each student’s learning style through easy-answer questions about specific lessons.  The program then gives educators an individualized teaching plan for that student.  Teachers also can create interactive homework assignments, and collaborate with teachers around the world on their ideas, writes Elaine Pofeldt for Forbes.

“We allow educators to easily create, measure and share all their academic material,” says CEO Jeremy Friedman, who launched the now 80-person New York City company in 2009, while still in college at Washington University in St. Louis, as part of a class project.

The platform is not only used by school districts.  Parents can use the features for homeschooled children, as well as continuing education programs, which use the program to create interactive courses. Businesses utilize the service for employee training.

“We are in a golden age for education technology, and Schoology is at the forefront, driving innovation in the market. We continue to receive praise from our users, as well as industry accolades, for our work in building a unified platform that is helping to improve the learning experience for students of all ages,” said Jeremy Friedman, CEO of Schoology. “Intel is one of the largest names in global education, and their investment represents significant validation for the work we are doing.”

Schoology also offers users an accompanying mobile app.

Currently, the community is free to its individual users, while 600 school systems, making up about 50,000 schools, pay a small fee for the service.  The company is expecting the total number of users to reach 8 million by the end of the year.

Schoology is hoping to use its $25 million in funding toward furthering its efforts in the K-12 market, and expanding into higher education.

The company was named the top education technology product at this year’s SIIA CODiE Awards.