IBL News | New York
After-school K-12 classes marketplace Outschool reached a valuation of 3 billion after obtaining funding of $110 million in Series D this month, according to the company. This whooping valuation took place just four months after hitting unicorn status.
Investor Tiger Global Management led the round. Additional participants included Lightspeed Ventures, Union Square Ventures, Reach Capital, Coatue, FundersClub, and SV Angel. In Api2021, Outschool raised $75 million in Series C.
With a workforce of 164 employees, Outschool is offering 140,000 virtual, small-group classes to students between the ages of 3 and 18, with 7,000 teachers today.
“The latest round of funding will be used to fuel our global expansion and ramp up new product offerings for schools and parents seeking alternatives to engage children in a love of learning,” said the company.
San Francisco- based Outschool has expanded its offering beyond the U.S. and Canada to countries such as Australia, New Zealand, and the U.K.
Recently, the startup launched Outschool Pods based purely on demand from both teachers and families to have more opportunities for ongoing organized, academic classes in small group settings, disclosed Amir Nathoo, CEO of Outschool.
Classes on Outschool range from one-time classes to ongoing social groups, one-on-one tutoring, week-long camps, and ongoing courses. Classes are offered to learners ranging from age 3 to 18.
For families with a financial need, their nonprofit arm Outschool.org provides access to classes and camps. Outschool.org has donated over $3M to schools since its inception in April 2020.
