Schoology, the education technology company that puts collaboration at the heart of the learning experience, today announced $32 million in financing led by JMI Equity, a growth equity firm focused on investing in leading software and services companies, with additional participation from existing investors FirstMark Capital, Intel Capital, and Great Road Holdings. This latest investment brings Schoology’s total funding to $57 million. Concurrent with the financing, Jit Sinha, General Partner at JMI Equity, will join the Schoology board.
A market leader in Learning Management System (LMS) adoption with more than 12 million users in more than 130 countries, Schoology will use the new funding to make product engineering investments to increase the scope and power of its education cloud, which connects the people, content, data, and systems that fuel education. It also plans to expand distribution so it can reach more schools, districts, colleges and universities around the globe.