Educators have been central in growing Outschool to what it is today: a global community where kids love learning. Collectively, you’ve taught 6.5 million hours of courses in 174 countries, served 900 thousand learners, and achieved $97 million in educator earnings. The demand for online learning is unquestionable, and it’s with this success that we’re excited to share some news with you. 🙌
Backed by top-tier investors
Today, we’re proud to announce that Outschool has raised an additional $75 million in Series C funding. Even with the pandemic nearing its end and schools fully reopening this year, this new round of funding signifies Outschool’s transition from a startup to an unstoppable sustainable business. 🚀
Tiger Global and Coatue co-led the capital raise. They were followed by continued support from Lightspeed, Union Square Ventures, and Reach Capital.
“Outschool is at the forefront of personalized online learning, which we believe will play an increasingly important role in education post-pandemic. As Outschool’s talented team innovates in this new education paradigm through enrichment, supplemental academics, and camps, we are excited to partner with them to benefit learners around the world,” said Evan Feinberg, Partner, Tiger Global Management.
Educators are the heroes behind Outschool’s success
We fully recognize that our educators are the backbone of our success. When we’ve asked families what keeps them on Outschool, their overwhelming response is the teachers. Here is just one of many examples that show you how much gratitude they’ve expressed.
“This experience has been eye-opening for us with our oldest especially, as he has always been our sensitive soul and our struggling learner. Had Covid not happened, he would be in 7th grade, in middle school, likely still continuing to struggle as we all ushered him through and propped him up. We would have never thought to homeschool. But here we are, nearly a semester down, and it has been life-altering (no exaggeration). He takes reading and English classes with teachers who understand him (where he isn’t trampled by the herd), and meet him where he is without him feeling left behind or “different” than his peers. He’s gaining his self-confidence back, finding peers, and feeling more “normal” and less alone. His passion for science has taken off because he has a teacher who sees his excitement and focuses on project-based learning, where his fear of writing doesn’t interfere with or overpower his love for science. He can work on those skills independently and move at his pace. He’s in an algebra class with a teacher who sees him each week and knows what he’s understanding, so when his test anxiety gets the best of him, she doesn’t treat him like a failure….And my plug…take good care of those super-star teachers. You are their opportunity to do what they love… and that benefits all of us.”
And here’s a special thanks from our learners:
We’re committed to building a platform for your businesses long-term
Raising money in itself certainly sets Outschool up for success, but it’s what we do with the investment that really counts. It’s our mission to inspire kids to love learning, and we’re excited and grateful for the opportunity to continue scaling what we’re building to achieve this mission. We’ll use the funds to grow our global team further, innovate our product, recognize our educators’ work, expand partnerships with schools and districts, and raise awareness of Outschool through world-class marketing. All of these investments ultimately benefit our educators.
Since our last round of funding in 2020, here are some highlights of what we’ve already accomplished towards our goals:
- We’ve created a more seamless experience for you: we’ve listened to your feedback and made strides to improve your experience on Outschool. This includes better scheduling tools, easier ways to connect with your learners, and more browsing options to help families find your unique classes.
- We’ve grown the team to serve you better: we’ve expanded teams in support, content policy, trust and safety, and account management, so our guidelines are more straightforward, your classes get approved faster, and you can get help when you need it most.
- More outreach to bring new learners to your classroom: in addition to growing the marketing team, we’ve gone beyond Facebook to market Outschool to new audiences, and we’ve built more partnerships with schools, employers, and other organizations.
- More free professional development opportunities: we’ve revamped our educator training center with free optional courses tailored to your professional development needs.
In addition, we’re committing to set aside 2% of our stock for the benefit of educators if Outschool has a liquidity event or IPO. This stock’s primary purpose will be to recognize our educators on the platform and their contributions to its success. We’ll provide more details at a later date.
“The pandemic has been a time of many families and schools rethinking their approaches to education. Outschool educators have played such an important role and thrive in this environment where they get to share their passions and expertise in creating classes that kids are going to love. This year of distance learning has been exceptionally difficult for all teachers, and Outschool wants to recognize the incredible contribution educators make to our children. We’re setting aside some stock to show appreciation for these teachers who are so central to our mission of inspiring kids to love learning. We know that moving into the future, education needs to change and become more personalized,” said Amir Nathoo, CEO of Outschool.
Join us for an Educator Town Hall and a chance to win prizes
We’ll be hosting an Educator Town Hall with our CEO, Amir Nathoo, to celebrate, show our appreciation, and answer any questions you may have. Join us on Friday, April 16th at 11 AM Pacific. Register now.
And if you like prizes, enter our raffle for a chance to win something cool. We’ll announce winners during the town hall. 🎁