New York City-based adaptive learning firm Knewton has just raised $51 million in a financing round led by venture company Atomico, according to TechCrunch.
First-time investor GSV Capital and existing backers Accel Partners, First Round Capital, Bessemer Venture Partners, Founders Fund, and FirstMark Capital also participated in the said round. Silicon Valley Bank also contributed through debt financing. The latest round brings Knewton's total capital to $104 million, the report detailed.
In October, the education startup opened a new headquarters in London. Chief Operating Officer David Liu says the new office will serve as its international headquarters. Liu also said the company eyes expansion across Asia, Latin America, and the Middle East, the report explained.
In 2014, the company also plans to hire between 80 and 100 more workers to add to its current staff of 145. Knewton will focus on reinforcing its engineering and data science teams before moving into a larger office in NYC, the report said.
Knewton uses analytics engine to map its students' individual strengths and weaknesses. The company uses the gathered data to identify knowledge gaps and provide tailored educational content for each student. The firm acts as a service provider that brings personalized educational content online to educational publishers, TechCrunch reported.
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