On March 1st, Nearpod publicly announced that they raised $21M in a Series B round of funding led by Insight Venture Partners, a world-class tech investor with deep knowledge and a strong portfolio in the K-12 education space. Below you will find a copy of the announcement, and for more information you can see some of the press in TechCrunch and EdSurge.
Beyond the exciting implications that it brings for Nearpod, this announcement comes as important news for the early stage edtech community. The fact that a major growth equity fund with the size and reputation of Insight Venture Partners is investing in a 4+ year-old company entirely focused in the K-12 market brings a breath of fresh air to the space, as well as hope for the thousands of passionate entrepreneurs working in this sector. At Reach Capital, we see this as good news at a time that K-12 is being de-prioritized by many investors.
Guido and I will be sharing specifics about the K-12 fundraising environment in future posts on BlendEd. Stay tuned, and please write us with any questions about fundraising in K-12 edtech…it is possible!
Cheers for Nearpod and for the K-12 edtech sector. Congrats to Guido, Felipe, Emiliano, and the rest of the Nearpod team for this important milestone — one that I hope many more edtech companies will reach in the coming years. Finally, a personal congratulations to my partners Jennifer and Shauntel who first spotted Nearpod and have been working closely with them since 2012, shortly after the company was launched.
Partner, Reach Capital
This article was originally published on the Nearpod Blog
From the moment we launched Nearpod in 2012, teachers, administrators and students embraced and supported us by helping to refine our platform and by sharing Nearpod with each other.
Those same students and educators continue to serve as our inspiration for building the most effective tools to modernize classroom instruction, engage students and boost learning outcomes.
Today we are proud to announce that we have raised a $21MM round of funding led by Insight Venture Partners, to help us build on the momentum and key milestones we have achieved thus far. This new funding will help us grow our team, develop new product features, create more interactive content and expand our portfolio of products to help our users solve new and important challenges facing the the k-12 education system.
We are eternally grateful for all the educators, administrators and students that have supported us along this journey and helped us get to this exciting milestone.
We also want to extend our gratitude to our partners, investors and to our team for the hard work that they put every day to make this company a reality. We wouldn’t have made it here without you.
The best days of Nearpod are still ahead of us.
Felipe Sommer, Guido Kovalskys & Emiliano Abramzon