Houston—May 24, 2016 - Accelerate Learning™ today announced it has raised $10 million in Series A funding from Owl Ventures. Accelerate Learning is a leading provider of digital resources for preK-12 Science, Technology, Engineering, and Mathematics (STEM) education, and was founded in conjunction with Rice University. Rice Management Company, the steward of the Rice University endowment, was the sole investor in the company prior to this round of funding.
"We were selective in choosing a partner for the next stage of growth at Accelerate Learning," said Jaime Aguirre, an investment director at Rice Management Company. "Owl Ventures has a long and successful track record in the education technology market and will be a strong and valued partner going forward. "
Since its founding in 2013, Accelerate Learning has experienced tremendous growth. The company's flagship product, STEMscopes, is now used by nearly 6,000 schools in 35 states across the country, and has garnered numerous industry awards. Built by teachers for teachers, STEMscopes is a comprehensive science curriculum that provides teacher and student digital resources, supplemental print materials, and hands-on exploration kits that build student engagement and excitement.
According to Vernon Johnson, CEO of Accelerate Learning, one of the reasons behind STEMscopes' success is that it was built from the ground up to meet specific state standards as well as the Next Generation Science Standards (NGSS). "The new standards focus on a deeper understanding and application of science content which is an important step forward in preparing students for STEM careers, but it also represents a huge shift in instruction," said Johnson. "STEMscopes provides everything teachers need to provide students with hands-on, inquiry-based learning to develop a real understanding of science."
"The emotional response and enthusiasm from teachers toward this product is truly unique," said Tory Patterson, managing director at Owl Ventures. "We are excited to support Accelerate Learning's tremendous work in STEM education, and to help get the award-winning STEMscopes solution into more states and school districts."
Patterson, who has joined the Accelerate Learning Board of Directors, further stated that the additional funding will also be used to help grow the company internationally, and to develop enhancements and additions to the company's product portfolio. Accelerate Learning has already been active in adding new tools and resources to its product, and recently launched an online STEM store that makes it easier for schools and districts to access STEM curriculum, professional development, and STEM certification programs.
About Accelerate Learning—Founded at Rice University, Accelerate Learning has grown from a single product, STEMscopes, to a brand that now offers a variety of curriculum and professional development solutions that support early learning, Next Generation Science Standards, and state-aligned curriculum.
Accelerate Learning has earned recognition as one of District Administration's Top 100 Products, and from numerous industry programs, including the Digital Innovation and Learning Awards, the Association of American Publisher's Revere Awards, and EdTech Digest's Cool Tool Awards. For more information, visit: www.acceleratelearning.com
About Owl Ventures—Owl Ventures is a San Francisco based venture capital fund that invests in the world's leading education technology companies. For more information, visit: http://www.owlvc.com/
About Rice Management Company— Rice Management Company is responsible for the stewardship of Rice University's $5.6 billion endowment fund and other financial assets. For more information, visit: http://www.investments.rice.edu/