Acrobatiq secures $9.75 million in Series A funding; supported by Bill & Melinda Gates Foundation.
Acrobatiq, a provider in the rapidly growing adaptive learning market, announced the successful completion of a $9.75 million Series A round of funding. The funding will support the growth of the Company’s next-generation adaptive learning and analytics platform, as well as sales and marketing initiatives. Acrobatiq’s adaptive courseware and platform have roots in twelve years of research from Carnegie Mellon University’s Open Learning Initiative, using cognitive and learning sciences research to improve student outcomes.
Participants in the round included Draper Triangle Ventures, Hearst Ventures, and the Bill & Melinda Gates Foundation. They join existing investor Carnegie Innovations, a subsidiary of Carnegie Mellon.
“Low income and underserved postsecondary students are balancing jobs, families and other priorities, and personalized learning is a tool that empowers these students to complete their degree or credential,” said Jason Palmer, Deputy Director of Postsecondary Success at the Bill & Melinda Gates Foundation. “We are thrilled to partner with Acrobatiq on expanding adaptive courseware to help these students access higher education and improve their odds of success.”
“Acrobatiq is filling a critical need in higher education that to this point has vexed the nation – the ability to provide truly personalized high-quality education at a cost that makes it accessible to all students who seek it,” said Jay Katarincic, Managing Director, Draper Triangle Ventures. “Acrobatiq brings a unique combination of groundbreaking research in online learning, learner-centered adaptive courseware, and a technology platform that can scale to meet the individual learning needs of millions of students. Our investment is a testament to Acrobatiq’s ability to change the face of higher education in the U.S.”