Virtual learning startup 101edu announced Tuesday it closed on an oversubscribed $4.6 million Series A round, capping off a year of triple-digit growth. The round was led by Recurring Capital Partners and brings the NYC-based company’s total funding raised to nearly $8 million.
Founded in 2016, 101edu provides online education for college and AP-level STEM courses. Its mobile-first platform provides a variety of active learning, homework and assessment tools that help students interact with and visualize complex STEM subjects in interesting and engaging ways virtually.
Beyond its remote-friendly model, 101edu is attempting to improve the way colleges teach STEM subjects — an area of study that sees twice as many dropouts as other majors, according to 101edu board member Dr. James Caras.
“Many of the big problems facing society require science- and engineering-based solutions,” Caras said in a statement. “101edu makes rigorous STEM coursework engaging and approachable for students in order to facilitate persistence and success in these critical disciplines, thereby delivering the problem-solvers the world needs.”
And it appears that this technology is being well received. More than 1,500 chemistry faculty at more than 400 colleges and universities across North America have used Chem101, the company’s flagship product. This adoption has been sped up immensely due to the global pandemic, since more instructors than ever are having to find new ways to keep students engaged in either hybrid or remote-only settings.
This growth has been seen in other online education startups too, particularly in areas like science and tech. For instance, just last month, Labster, a game-based edtech startup that simulates labs, closed on a $60 million Series C led by Andreessen Horowitz; and online coding school Codecademy raised $40 million, citing a long-term “societal shift” toward online learning.
Bradley McBride, managing director at Recurring Capital Partners, foresees 101edu being a leader of this burgeoning movement in STEM education.
“Accelerated adoptions of technology are changing the way STEM content is delivered and consumed across the education landscape,” McBride said in a statement. “101edu’s impressive growth underscores our belief that the company is rapidly becoming a market-leading STEM learning platform that will lower the cost of education content, enhance the user experience for both professors and students, and, ultimately, improve student outcomes.”
To accomplish this, 101edu says it plans to use this fresh funding to expand into more areas of STEM education, including a new chemistry course later this month, according to CEO and co-founder Justin Weinberg. The company is also hiring in its engineering and sales departments.
