Formative lands $70 million to provide real-time feedback to K-12 educators
2021-06-16 17:37:56

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Formative, a SaaS-based real-time student data platform, announced a $70 million minority investment led by global growth investor Summit Partners, with participation from existing investors including Emerson Collective, Fika Ventures, Mac Ventures and Rethink Education. 

The investment will further fuel Formative’s product enhancement efforts, increase teacher and administrator support and expand the company’s international reach.

Craig Jones and Kevin McFarland founded Formative as graduate students at UCLA in 2013. The company is a web-based student response platform that allows teachers to give live assignments to students, enabling instant teaching adjustments and long-term student growth tracking. Teachers use Formative to see student work in real-time, give feedback, track student progress to learning standards and collaborate around common assessment data.

Formative said it has a presence in the majority of U.S. school districts. In the past year, more than four million students have engaged with the platform, and the company claimed it has delivered annual recurring revenue growth of approximately 700%.


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