Quizlet Secures $20 Million Series B

 

SAN FRANCISCO — Quizlet, a user-generated consumer learning platform, has raised $20 million in Series B funding. The round was led by Icon Ventures, with Union Square VenturesCostanoa VenturesOwl Ventures and Altos Ventures participating in follow-on investments. The Series B funding will be used to accelerate the company’s artificial intelligence capabilities, build out its data science team and increase Quizlet’s international footprint. Quizlet’s funding now totals $32 million.

Students of all ages want creative, collaborative and innovative tools that keep them engaged and mastering subjects. Last year, Quizlet launched Quizlet Learn and Quizlet Diagrams, which use the machine-learning-powered Learning Assistant Platform to process data from billions of anonymous study sessions, and then combines that data with proven techniques from cognitive science to more effectively help students learn. The Series B funding will allow Quizlet to expand its engineering team so it can continue innovating on its existing platform, and make additional data science, artificial intelligence and technology investments in the future.

The company says its platform is used by one in three U.S. high school students and one in two U.S. college students for a total of 30 million people each month.

“Quizlet is an integral part of how people study and learn around the globe,” said Matthew Glotzbach, CEO at Quizlet. “We’re excited that this new capital will allow us to make key investments in the Quizlet platform, grow our company and work toward our vision of providing an AI-powered tutor to help anyone learn anything.”

After experiencing triple-digit year-over-year international user growth in 2017, Quizlet will also expand its international presence. Starting in Europe and following with Asia, Quizlet will begin hiring people in market to help to bring Quizlet to as many global learners as possible.

“Over the last 11 years, Quizlet has grown from a tool that helped Andrew Sutherland, its founder, study for his high school French exam, to a scalable and monetizable study platform for people around the globe,” said Jeb Miller, general partner at Icon Ventures. “Quizlet’s impact on students and teachers alike has been instrumental in the educational landscape, and we’re excited to bring the full resources of our team to work to help them reach the more than 1.4 billion students globally.”

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