KA’CHING: US edtech raised $474M in November 2015, according to analysis by EdSurge. The funding was spread across 21 different deals; at least 54 unique investors participated.
HotChalk lead the way in November funding with its massive $230M in Series D led by German media conglomerate, Bertelsmann. Founded in 2004, HotChalk has helped colleges build 33 online degree programs, though the company initially focused on creating a K-12 platform for teachers to share content, assign homework and grades. HotChalk has previously raised $15 million across several rounds from investors including NBC News, McGraw-Hill Education, Peacock Equity Fund and Mohr Davidow Ventures.
Other big winners included $105M in Series D money to Udacity, provider of online university-level courses, particularly in math and science. Udacity's large round was also led by Bertelsmann. St. Louis-based Varsity Tutors brought in $50M in funding to scale its online platform that connects students with tutors for in-person and online sessions. Rounding out the month’s top deals is online platform, Schoology, which scored $32M in Series D funding to expand beyond its current 12 million users across 130 countries.
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