KA’CHING! US edtech companies raised $98.5 million in October 2015, according to analysis by EdSurge. The funding was spread across 12 different deals; at least 50 unique investors participated.
Knewton led the way in October funding with a $42 million round led by Belgian investment group Sofina with participation from previous investors Atomico, Founders Fund, FirstMark Capital, Accel Partners and Bessemer Venture Partners. Knewton, based in New York City, has seen an increase in global demand for its adaptive learning technology, which this financing will help support.
Other notable deals included $15 million in Series B funding to Newsela, developer of a leveled reading program for students in grades three to 12. MOOC-provider Coursera added a fresh $11.6 million in new funding from Singaporean investor EDBI to round out its $61.1M million Series C round. Rounding out the month’s top deals was financial aid self-service platform, CampusLogic, which scored $7.5 million in Series A funding to grow its product-support team.
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