SAN FRANCISCO — Minerva Project, a provider of higher education offerings to the Minerva Schools at Keck Graduate Institute (KGI) and other educational partners, has closed a Series C round of $57 million. Minerva’s total capital raised to date is now over $128 million.
The round was led by Chinese Internet company Bytedance with participation from existing global investors TAL Education Group (NYSE: TAL), a leading K-12 after school tutoring education services provider, and Yongjin Group, a holding company and private equity investor. Additional investors in the round include Pinpoint Ventures, Kakao Ventures, Tan Tan Ventures, Lighthouse Combined from Korea as well as a select number of other new and existing investors.
Minerva will use the capital to accelerate access to its learning experiences through partnerships with universities and corporations.
Along with the announcement of the Series C funding, Minerva welcomes two new Board Members. Zhang Yiming, Founder and CEO of Bytedance, joins the Minerva board and brings insight around technology and education. Wendy Kopp, Founder and CEO of Teach for All and Founder of Teach For America, joins as a board member bringing her decades of experience running a global network of independent nonprofit organizations working to expand educational opportunities in countries around the world.
“Minerva’s model for higher education is attracting interest from leading institutions and organizations who want to use the Intellectual property we have developed including our curriculum, pedagogy, technology platform, and faculty training,” said Ben Nelson, founder, Chairman and CEO of Minerva Project. “Our Series C funding will allow us to see improved educational outcomes for students beyond those at Minerva Schools, as we fuel the growth of these partnerships to fulfill Minerva’s mission of nurturing critical wisdom for the sake of the world.”