Quizlet Raises $30M at $1B Valuation to Expand AI-Powered Tutoring Platform

May 13, 2020
Quizlet's online learning platform has become a valuable asset to students and teachers affected by school closures.
Photo: quizlet

Quizlet, an edtech company based in San Francisco, announced the close of a $30 million Series C on Wednesday. The round, led by General Atlantic, brings the company’s total valuation to nearly $1 billion. The additional capital will be used for the research and development of new products related to data science and machine learning, including the company’s AI-powered tutor platform, Quizlet Learn.

Quizlet offers students and teachers studying tools on subjects including science, math, history and language arts. The company invites students to play a more active role in their educational journey by using digital flashcards, memory games, writing exercises and more to diversify their learning experience. Quizlet Learn, the company’s latest AI feature, uses data from millions of anonymous study sessions to create a personalized study plan that adapts to a user’s needs.

According to the company, the remote learning platform has become increasingly popular now that schools around the world are closed due to the onset of a global pandemic.

“We are inspired by how students are using the platform during COVID-19, from studying for exams, to picking new skills, to preparing for professional certifications,” a spokesperson for the company said in an email to Built In. “[We are] continuing to create remote learning resources, for both students and teachers as we all navigate a new normal.”

In March, the company announced that its Quizlet Teacher platform would be offering free subscriptions to educators affectedt by COVID-19 through the end of June.

“Supporting teachers through this transition will be essential to the success of students,” CEO Matthew Glotzbach said in a statement. “It’s important that we prioritize what teachers are asking for, especially as they seek remote learning tools that will keep students engaged and aid in their ongoing learning journeys.”

In addition to furthering the advancement of new learning tools, the company is also looking into strategic expansion opportunities. Additional roles may be made available in engineering, design, product marketing and more, as the company continues to expand.

“Quizlet remains committed to being a resource for all students, and that is at the core of everything we do,” a spokesperson for the company said.

Quizlet is available in 19 different languages and is used by nearly 50 million students across the world. According to Crunchbase, the company has raised a total of $62 million in venture capital since it was founded in 2007.

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