The round was led by Union Square Ventures and Costanoa Venture Capital with participation from Altos Ventures and Owl Ventures. In conjunction with the funding, Fred Wilson from USV and Greg Sands from Costanoa will join Quizlet’s board.
The company intends to use the funds to hire new people, expand the product portfolio, and grow internationally.
Founded in 2005 by Andrew Sutherland, Quizlet provides study tools and applications that are learner-focused and curriculum agnostic. Beyond its use by traditional students, the company’s solutions are used by US diplomats preparing for language exams, Whole Foods employees memorizing food codes, and ski instructors preparing for their certifications.
Quizlet is launching two new products:
– Long Term Learning, which provides daily study reminders, which automatically learn what students know and increase repetition for what they need to learn and is now available for Quizlet Plus users; and
– Gravity, which converts quizzes into an Asteroids-like game to make learning more fun.
FinSMEs
23/11/2015