US-based grammar learning platform developer NoRedInk has received $50m in a series B round led by quantitative trading firm Susquehanna International Group’s Susquehanna Growth Equity subsidiary.
The round included True Ventures, the venture capital firm that led the company’s $6m series A round in 2015, in which Social Capital, Rethink Education and Kapor Capital also invested.
NoRedInk provides digital tools to help schools teach children to write, and its products are currently used in over 60% of school districts across the US.
The company’s $2m seed round in 2013 included GV, the subsidiary of internet and technology group then known as Google Ventures, as well as CRV, NewSchools Venture Fund and Social Capital.
Josh Else, managing director at Susquehanna Growth Equity, said: “School districts are abandoning the big publishers in droves and flocking to digital tools that have proven they can actually help kids learn.”
“NoRedInk has earned tremendous loyalty from K-12 schools and districts nationwide and teachers adore the product because it helps them teach more effectively.”
