Knowledgehook, a Canadian edtech platform focused to improve math education in school districts, has raised $20 million in a Series A funding round to meet the surging demand for its breakthrough technology.
While the lead investor was not disclosed, the company said in a statement that the round was led by a London-based edtech investment fund with participation from Mesoamerica’s Alexandria Corp., Nelson Education, Ideal Ventures, and Nicoya Ventures.
Knowledgehook is a comprehensive mathematics learning platform that empowers hundreds of thousands of teachers and parents to collaboratively support the mathematics learning journey of millions of students worldwide. The platform supports district-wide math improvement by scaling anytime, anywhere professional learning to build teacher capacity, while engaging students and providing actionable insights for parents. Knowledgehook's Instructional Guidance System is designed by leading numeracy experts and is known for reinventing how online technology supports education and educators, while inspiring the problem solvers of tomorrow.
Knowledgehook actively collaborates with ministries and department of education while also working directly with school districts, to offer curriculum-aligned solutions. The Kitchener-based company currently empowers educators across more than 100,000 schools.
Speaking about the company, Travis Ratnam, Co-founder and CEO of Knowledgehook, said in a statement,
“Now more than ever, we know that teachers and parents both play an essential role in helping children learn. The pandemic has heightened the need for digital solutions that focus on building teacher capacity to deliver high-quality math instruction both in classrooms and in remote learning environments. Knowledgehook, designed to empower educators, is this next generation of edtech.”
Through Knowledgehook's AI-based platform, teachers have access to content aligned to their jurisdiction’s curriculum (including US Common Core, Texas, UK, Mexico, and Ontario) in English, French and Spanish. Knowledgehook’s proprietary technology uses data to track where each student is on their math journey. The program provides real-time insights on students learning gaps and helps teachers develop their understanding of the math concepts related to their students’ challenges, enabling them to adjust instruction and monitor student progress.
Ratnam said the company has received growing interest for its technology and expertise to be applied to other K-12 subjects and is looking forward to expanding its solution to empower more educators and support the learning of students to become the problem-solvers of tomorrow.
According to a press statement, Knowledgehook, which offers district-wide classroom licenses, as well as Netflix-like home subscriptions, has experienced consistent growth since entering the market, eclipsing a 4,300% growth in user base with 100% client retention and net dollar retention greater than 170% in 2019.
The company aims to extend its solution’s reach to 50,000,000 students globally by 2021. Knowledgehook claims its research-based solution has garnered industry leading partnerships and investments from the most recognized global education brands, such as Nelson, Radix, Spectrum, Eastpoint, Nasco Education and the University College of London among others.