Another class of investors just dropped $45 million in Outschool.
The Series B cash comes amid record growth for the San Francisco-based edtech platform — CEO Amir Nathoo said Outschool has more than doubled its headcount since the start of the year and that new bookings are up more than 2,000 compared to 2019. Nathoo credits the COVID-19 pandemic with starting demand for Outschool, and doesn’t believe interest will ever stop.
“Post COVID-19, schools will have more experience with and investment in online tools which allow them to expand their own capabilities to offer cost-effective enrichment online,” Nathoo wrote in an email to Built In.
Founded in 2015, Outschool offers more than 50,000 online classes taught by 10,000 teachers, which range from one-time lessons to semester-long courses. Classes are taught across all subjects, with a range of options for students ages 3 to 18.
Since March, Outschool said it has gained “hundreds of thousands” of additional learners, 5,000 new teachers and expanded to the United Kingdom, New Zealand and Australia. The company plans to continue to grow internationally, as well as expand its customer base of schools, learning centers and companies. It also plans to find new ways to connect students in its community.
“Social learning is a key part of our product,” Nathoo said. “We want to enable more ways for learners to connect through their interests, in and outside of class.”
The 60-person company is currently hiring for 10 roles, with open positions available in engineering, operations and product.
The Series B round brings total investment in Outschool to $55 million. Lightspeed Venture Partners led the round, with participation from Reach Capital, Union Square Ventures, SV Angel, FundersClub and Y Combinator.