Knewton is set to scale its growth as it recently announced the completion of a $33 million round of funding, led by Founders Fund and Pearson. Returning investors included FirstMark Capital, Accel Partners and Bessemer Venture Partners.Pearson’s award-winning MyLab and Mastering programs have personalized learning for millions of students around the globe, delivering proven results for institutions looking to improve student performance and lower costs. Demand for the MyLab and Mastering programs soared in 2010, with 232 million assignments submitted and more than 750,000 students logging in daily. More than 9 million student registrations are projected for this year alone. For more information about MyLab and Mastering, visit http://pearsonhighered.com/educator/mylabmastering/index.page. ABOUT PEARSON Pearson, the world’s leading learning company, has global reach and market-leading businesses in education, business information and consumer publishing (NYSE: PSO). The company provides innovative print and digital education materials, including personalized learning programs such as MyLab and Mastering; education services including custom publishing; and content-independent platforms including the EQUELLA digital repository and Pearson LearningStudio for online learning programs. ABOUT KNEWTON Knewton has developed the world’s first Adaptive Learning Platform™, which customizes educational content to create a uniquely personalized learning experience for every student. Knewton's patent-pending algorithms currently power its Math Readiness for College TM and test prep courses, and Knewton is continuing to partner with universities, publishers and other educational organizations to make personalized learning available to everyone worldwide. Knewton was founded in 2008 by Jose Ferreira, a former executive at Kaplan, with Series A, B, C and D funding from Founders Fund, Pearson, FirstMark Capital, Bessemer Venture Partners, Accel Partners, First Round Capital, and prominent angel investors. For more information, visit www.knewton.com.
Pearson, the world’s leading learning company, and education technology pioneer Knewton today announced a partnership to create a new wave of personalized education products. Under the agreement, Knewton’s engine will power Pearson’s digital content, including the MyLab and Mastering series. The first titles to be integrated with Knewton will include MyMathLab, MyReadingLab and MyWritingLab, as well as MyFoundationsLab, Pearson’s all-in-one solution for college readiness. In addition, the two companies will jointly develop a line of custom, next-generation digital course solutions, and will explore new products in the K12 and international markets. “Pearson’s MyLab and Mastering programs continue to perform exceptionally well, with double digit increases in student registrations year-over-year, a key indicator that personalized learning is crucial to the entire future of education,” said Bill Barke, Chairman of Pearson U.S. Higher Education. “Our partnership with Knewton, which combines the power and potential of their adaptive learning platform with our content and distribution, will usher in a new era of personalized and customizable education products.” Knewton’s award-winning Adaptive Learning Platform TM uses proprietary algorithms to deliver a personalized learning path for each student, each day. Knewton’s technology identifies each student’s strengths, weaknesses and unique learning style. Taking into account both personal proficiencies and course requirements, the platform continuously tailors learning materials to each student’s exact needs, delivering the most relevant content in the most efficient and effective form. “Knewton adaptive learning platform, as powerful as it is, would just be lines of code without Pearson,” said Jose Ferreira, founder and CEO of Knewton. ”You’ll soon see Pearson products that diagnose each student’s proficiency at every concept, and precisely deliver the needed content in the optimal learning style for each. These products will use the combined data power of millions of students to provide uniquely personalized learning to each.”