Nearpod, a Miami-based edtech startup, has raised $21 million in venture funding to help teachers turn their mobile devices into a powerful educational tool.
According to a TechCrunch report, the company will spend most of its series B capital on hiring and developing more proprietary digital content for its library.
The Series B round was led by Insight Venture Partners, with investment firms such as Reach Capital, GSV Acceleration, Krillion Ventures and AGP Miami were also part of the funding round. These firms have also backed Nearpod in the past. With the funding, Insight Venture Partners’ Brad Twohig, Peter Segall and Nikitas Koutoupes joined Nearpod’s board of directors.
Nearpod develops some content by itself and also works with publishing partners to offer lessons exclusively designed for the Nearpod platform. Past partners of Nearpod have included Common Sense Education, which offered back to school, “digital citizenship” curriculum, and LearnZillion, which offered math and English language arts courses via Nearpod.
Guido Kovalskys, who co-founded Nearpod with Felipe Sommer and Emiliano Abramzon in 2012, said: “Software and content that teachers can incorporate into their day-to-day instruction without any additional work.” The company’s platform is free for teachers to use, but they, or more often their schools or school districts, pay for access to Nearpod’s premium lessons and features.
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