SplashLearn Secures $18 Million to Fuel Global Expansion

SplashLearn, a U.S.-based edtech company specializing in game-based learning for children, has successfully raised $18 million in a new funding round. This investment will be utilized to broaden the company’s reach into additional international markets.

Series C Funding Details

The Series C funding round was spearheaded by San Francisco-based Owl Ventures. Accel, a previous investor having contributed $7 million during the Series B round, also participated in this latest financing effort.

Addressing Engagement in Education

According to SplashLearn co-founder and CEO, Arpit Jain, a significant challenge within the current education system is a lack of student motivation. He emphasized the necessity of presenting learning material in an engaging and appealing manner to capture children’s interest.

Curriculum and Interactive Activities

The platform delivers math and reading instruction to students from pre-kindergarten through fifth grade. Over 4,000 games and interactive exercises have been developed, informed by educators and subject matter experts, to effectively convey complex concepts.

Jain demonstrated an adventure game incorporating addition problems as a core mechanic for progression. “Improved learning outcomes are directly correlated with heightened student engagement,” Jain stated.

Personalized Learning Experience

SplashLearn’s platform provides each student with approximately 15 to 20 minutes of individualized learning daily.

Pricing and School Adoption

Parents can access the service for a monthly fee of $12. Alternatively, the platform is offered at no cost to schools. Currently, approximately one-third of all schools in the United States utilize SplashLearn.

Jain explained that the company’s objective is to provide accessible, high-quality education without charge. He noted that their business model facilitates this goal. SplashLearn does not actively solicit schools; instead, teachers who find the platform beneficial advocate for its wider implementation.

From Previous Venture to Current Success

The team initially developed an edtech platform resembling the current iteration of Coursera. However, this earlier venture did not achieve significant traction due to the limited internet access in the Indian market at the time.

Growth and User Base

Today, SplashLearn boasts over 40 million registered students, with 10 million joining in the past year following widespread school closures due to the coronavirus pandemic. The platform also supports more than 750,000 teachers.

Market Presence

The United States currently represents 80% of SplashLearn’s revenue. However, students from over 150 other countries, including the U.K., Australia, Canada, and India, are also utilizing the platform.

Investor Perspective

Amit A. Patel, Managing Director at Owl Ventures, commented, “SplashLearn is uniquely positioned to revolutionize digital learning through its combination of scientifically-backed curriculum and globally-relevant teaching methods. This investment aligns with our commitment to supporting innovative edtech companies and driving a fundamental shift in educational delivery.” Patel and Abhinav Chaturvedi, a partner at Accel, will be joining SplashLearn’s board of directors.

Expansion into Tutoring Services

Last year, SplashLearn launched a tutoring service connecting teachers with small groups of three to five students. This service is priced between $10 and $25 per hour. Jain highlighted that this offering remains significantly more affordable than traditional private tutoring.

Currently available in the U.S., the tutoring service is slated for expansion within the country throughout the current year.