- Outschool recently announced a $110 million Series D round of funding with a $3 billion valuation for its K-12 education marketplace. These are the details.
Outschool recently announced a $110 million Series D round of funding with a $3 billion valuation for its K-12 education marketplace. The Series D round of funding comes less than a year after a $75 million Series C raise in April 2021.
This latest round of funding is led by previous investor Tiger Global Management and added BOND. And additional participants in the round include Lightspeed Ventures, Union Square Ventures, Reach Capital, Coatue, FundersClub and SV Angel. The funding round provides Outschool with additional resources to fulfill its mission to positively impact society by inspiring a love of learning in children across the world.
Outschool is known as an innovative education platform that offers a variety of engaging and small-group classes online. And unlike traditional classes or passive videos, Outschool gives kids the unique opportunity to explore their interests in-depth with interactive classes taught via live video by experienced, independent teachers, and organizations.
Previously only available as a teaching opportunity to teachers in the United States and Canada when the pandemic hit, the company grew its offerings dramatically. And Outschool offered an opportunity for teachers worldwide to earn extra income, allowing independent educators in countries such as Australia, New Zealand, and the UK to engage thousands of kids looking for time-zone-friendly classes while schools were largely shut down.
Even though schools across the United States went back to in-person classes this fall, Outschool continues to attract new learners, especially for ongoing classes. This funding round will be used to fuel Outschool’s global expansion and ramp up new product offerings for schools and parents seeking alternatives to engage children in a love of learning.
Classes on Outschool range from one-time classes to ongoing social groups, one-on-one tutoring, week-long camps, and ongoing courses. And classes are offered across all subjects, and for learners ranging from age 3 to 18.
For families with financial needs, the company’s nonprofit arm Outschool.org provides access to unique classes and camps. Outschool.org has donated over $3 million to schools, after-school programs, and families in need since its inception in April 2020.
KEY QUOTES:
“Outschool’s online learning provides parents and students with a high-quality, convenient and affordable form of after-school enrichment and supplemental learning. Offering small, customized classes taught online and in real time, Outschool has emerged as an industry leader, and we are excited to partner with them as they expand.”
— Evan Feinberg, Partner, Tiger Global
“Outschool engages and inspires learning through a large variety of classes and subjects so kids can dive deeper into their favorite interests. We have seen firsthand how the small-group format encourages social interaction and builds friendships while also allowing for a deeper understanding of subject matter. Recently, we launched Outschool Pods based purely on demand from both teachers and families to have more opportunities for on-going organized, academic classes in small group settings. We will continue to innovate our product based on the needs of our community. I couldn’t be prouder of the achievements of our team from the past year and a half. Now we recognize the real work begins as we scale up and realize the platform’s great potential to inspire learners across the world.”
— Amir Nathoo, CEO of Outschool
