Glendale-based edtech startup Age of Learning announced Tuesday that it raised $300 million in a financing round led by TPG. This latest investment is a sign that the edtech boom brought on by the pandemic isn’t slowing down anytime soon. Following the raise, the unicorn’s valuation skyrocketed to a whopping $3 billion, according to Bloomberg.
The additional capital will accelerate the company’s mission to improve learning outcomes for students with its digital educational programs. Age of Learning’s current list of programming consists of four main product offerings. It offers dedicated math and english courses, as well as an Early Learning Academy for kids ages two through eight, and an Adventure Academy, which is a multiplayer online education game for elementary and middle school students.
“Every child deserves a strong foundation for academic success, and we are committed to delivering on this promise for kids everywhere,” Paul Candland, the CEO of Age of Learning, said in a statement.
Last year, the company launched its own non-profit, The Age of Learning Charitable Foundation. This foundation partners with non-governmental organizations and companies in low-income countries to make its educational programs available to students and schools for free.
“Since our founding more than a decade ago, [we’ve] led with a mission to help children everywhere build a strong foundation for academic success and a lifelong love of learning, regardless of their socio-economic backgrounds or circumstances,” Doug Dohring, founder and executive chairman of Age of Learning, said in a statement.
Age of Learning has helped educate more than 50 million children around the world, according to the company.
Following the latest raise, Age of Learning will continue to invest in new products and technologies to continue educating students young and old.
As it continues to scale, Age of Learning plans to expand the size of its team to support product growth. The company is currently hiring for dozens of open roles across its engineering, data and product teams to name a few. The edtech platform is committed to promoting a culture of diversity and lists staff breakdowns of gender and ethnicity on its careers page.
Age of Learning has raised $481.5 million in venture capital financing to date.
Additional investors in the round included Qatar Investment Authority and Madrone Capital Partners, among others.
