Funding will allow the company to accelerate growth of its STEM focused, next-generation active learning platform for college and AP courses, and to break into new disciplines and markets
NEW YORK, March 1, 2021 /PRNewswire/ -- 101edu, creator of the mobile-first, next-generation active learning platform for STEM disciplines, today announced it has completed an oversubscribed $4.6 million Series A financing round. Recurring Capital Partners led the investment round with participation from new and existing investors Birchmere Ventures, University Ventures, Zanichelli Venture, Matzliach Capital, Board member Dr. James Caras, Mark Miller, Torsten Geers, and Vineet Madan. The latest investment brings 101edu's funding to $7.8 million.
Edtech startup 101edu raises $4.6M Series A to accelerate growth of its active learning platform for STEM courses
Founded in 2016 by Dr. Justin Weinberg and Igor Belyayev, 101edu has revolutionized the STEM learning experience for college and AP students. The company's mobile-first courseware platform delivers a unique blend of active learning, homework, and assessment tools that help students to visualize, experience, and interact with difficult STEM concepts in new and exciting ways.
Chem101, the company's first product, has been adopted by over 1,500 chemistry faculty at 400+ colleges and universities across North America such as Florida State University, California State University, and the University of Connecticut. Chem101 offers instructors a comprehensive learning solution — enabling them to engage their students during and after class with real-time digital learning activities, online homework, timed quizzes, and extra practice. As schools and institutions grapple with the lasting impacts of COVID-19, the platform offers instructors the ability to enhance their courses in any format: in-person, hybrid, or completely online.
Chem101 is being utilized alongside publisher textbooks and in many courses is directly integrated with leading free Open Education Resource (OER) textbooks such as OpenStax Chemistry, which helps to reduce student course materials fees.
The Series A funding builds on a year of triple digit growth for 101edu where the company's platform enabled instructors to quickly transition online and retool their courses towards more active and engaging teaching methodologies. The new funding allows the company to accelerate growth and expand into other STEM disciplines and markets.
"We are thrilled to have the support of Recurring Capital and many of our existing investors for this next phase of 101edu's growth," said Dr. Justin Weinberg, co-founder and CEO of 101edu. "I've never been more excited about the new products and learning experiences we're working on and I can't wait to get them into the hands of students and instructors. We are proud to be riding the wave of a sea-change in how professors teach, how they engage their students, and how they deliver content."
"STEM majors in college are twice as likely to drop their major than other majors," said 101edu Board member Dr. James Caras. "Many of the big problems facing society require science- and engineering-based solutions. 101edu makes rigorous STEM coursework engaging and approachable for students in order to facilitate persistence and success in these critical disciplines, thereby delivering the problem-solvers the world needs. I am proud to be involved in their mission and success."
"Accelerated adoptions of technology are changing the way STEM content is delivered and consumed across the education landscape," said Bradley McBride, Managing Director at Austin, TX-based Recurring Capital Partners. "101edu's impressive growth underscores our belief that the company is rapidly becoming a market-leading STEM learning platform that will lower the cost of education content, enhance the user experience for both professors and students and, ultimately, improve student outcomes. We couldn't be more excited to partner with Justin, Igor, and the entire 101 team as they enter this next stage of growth."
Founded in 2016 by Dr. Justin Weinberg and Igor Belyayev, 101edu provides a mobile-first, next-generation active learning platform for STEM courses. The company's first product, Chem101, enables chemistry instructors to engage their students in any format in both synchronous and asynchronous modalities. Faculty utilize Chem101 to drive active learning during class, assign online homework, and reinforce concepts that students can pick up on-the-go with the company's mobile-first platform. Chem101 is the fastest-growing active learning product focused on STEM disciplines, with adoptions at over 400 colleges and universities, as well as high-school AP courses across North America. The company is currently expanding its offerings across STEM disciplines. 101edu is based in New York City and is growing its team of educators, engineers, and entrepreneurs both locally and remotely. Apply to join at 101edu.co/jobs
For more information about 101edu or Chem101, please visit https://www.101edu.co
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