DreamBox Learning Raises $11M

Dreambox: $11 million to Bellevue, Wash.-based Dreambox Learning, in a round led by Netflix CEO Reed Hastings and joined by a private investment from venture capitalist John Doerr. GSV Capital Corp., and current investor, Deborah Quazzo, also joined the round. Dreambox leads the industry in offering an adaptive math program for students in grades K-3 and is working to expand its program to include word problems and grades 4 and 5. In August 2011, SRI International published an independent study that showed students’ test scores improved by 5.5% after using DreamBox for 16 weeks, Hastings and the Charter Fund acquired the company in April 2010, in a deal that included a $10 million investment. Hastings served as chairman of Dreambox until August, when chief executive, Jessie Woolley-Wilson took up that post. The company has raised $28.1 million so far.

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