Outschool, a US-based online after-school activity portal backed by children’s entertainment producer Sesame Workshop, has collected $110m in series D funding at a $3bn valuation.
Hedge fund manager Tiger Global Management led the round, which also featured Bond, Lightspeed Ventures, Union Square Ventures (USV), Reach Capital, Coatue Management, FundersClub and SV Angel.
Founded in 2015, Outschool offers an online education marketplace where teachers and tutors connect with small groups of children and engage in playful activities, including games like Minecraft and Pokemon as well as cooking, chemistry, algebra and literature.
Classes range from one-time lessons to week-long camps and semester-long courses. Outschool intends to use the financing to boost its global expansion and launch new products for schools and parents.
The company raised $75m six months ago in a series C round co-led by Tiger Global Management and Coatue that included Lightspeed Venture Partners, USV and Reach Capital.
Outschool had previously secured $45m in a series B round led by Lightspeed Venture Partners in September 2020. Accelerator Y Combinator backed the round, alongside USV, SV Angel, FundersClub, Reach Capital and undisclosed other investors.
USV and Reach Capital had already led the company’s $8.5m series A round in mid-2019. Sesame Workshop’s Collab + Sesame fund co-led its $1.4m seed round in 2017 with Collaborative Fund, investing together with Y Combinator, SV Angel, FundersClub, Spectrum28, Learn Capital and Caterina Fake.