eSpark Learning, a Chicago-based EdTech startup, announced that it has raised $25 million in a funding round led by Quad Partners, a leading private equity firm focused exclusively on education.
According to the company's statement, it is planning to use the funds to hire for several remote positions, including engineers and product managers.
Founded in 2010 by David Vinca, eSpark is a leading provider of personalized learning software that helps students love learning and get on track to succeed in school and in life. The platform provides engaging, standards-based lessons that help K-5 students succeed in reading and math at their own level. It also offers lessons built by a team of former teachers and leverages instructional research and real-time data to develop lesson plans for primary school students.
eSpark's mission is to re-imagine learning works with schools to put students at the heart of instruction and help districts achieve stronger academic outcomes.
Speaking about the capital raised, Founder and CEO of eSpark, David Vinca, said in a statement, "The effects of the past couple years have severely widened existing learning gaps in schools across the nation. This funding from Quad Partners will allow us to invest in our product, grow our talented team and to reach more students when they need us most."
The startup claims to have been used by millions of elementary students in schools across all 50 states.
Principal of Quad Partners, Connor O’Keefe, added, "ESpark has achieved something rare among education companies.They’ve managed to build a product that students and teachers adore while repeatedly demonstrating significant learning gains to school districts."
In 2012, eSpark had raised $5.7 million as a part of its Series A funding round led by MK Capital, Learn Capital, with participation from NewSchools Venture Fund and 500 Startups.
