AI-powered study tool Quizlet raises £24M in funding

Quizlet Raises £24M in series C Funding from @GeneralAtlantic 

Quizlet, the global learning platform known for its engaging AI-powered study tools, today announced a Series C funding round of £24 million, led by General Atlantic, a leading global growth equity firm. The capital will help fuel Quizlet’s continued product innovation with an emphasis on data science and machine learning capabilities, as well as aiding strategic expansion opportunities that align with Quizlet’s mission to help people practice and master whatever they want to learn.

Quizlet, which allows learners to create, share and consume high-quality user-generated content, caters to a diverse userbase across geographies and stages of education. Quizlet continues to scale, with more than 50 million active users a month and over a billion questions answered on the platform each week, and with two-thirds of high school students and half of all college-aged students in the United States on the platform. Students and teachers can access over 400 million user-generated study sets, or create their own, to study across activities ranging from flashcards and practice questions to interactive diagrams and games.

Quizlet’s AI-powered platform is able to personalize and adapt study sessions for each user, helping students focus on what they need to learn. Of note:

• Quizlet’s most popular study activity, Quizlet Learn, leverages AI to create an adaptive study plan that adjusts to the users’ learning needs and can be scheduled to help them reach mastery by a specific date, such as a test or final.
• Quizlet’s Smarter Grading & Feedback system can understand a student’s answer beyond a word-for-word match, determine what is correct and what needs further understanding, and then guide the student’s studying.

“Imagine if every person had access to an AI-powered tutor to help them confidently study anything they wanted to learn. The team at Quizlet wakes up every day excited to make students’ lives better by creating innovative tools that move our users towards mastery more quickly and more effectively,” said Matthew Glotzbach, CEO of Quizlet. “General Atlantic recognizes the value of technology’s impact on learning, and we welcome them as a long-term partner and strategic advisor as we pursue our next phase of growth.”

Peter Munzig, Managing Director in General Atlantic’s Technology investing sector, continued,

“Quizlet’s differentiated learning platform caters to a wide base of users who find value in the depth and breadth of the educational content it offers. Through aggregate and individual user behaviour, Quizlet is able to curate and enhance learning experiences, an offering that resonates with its students and has enabled the company to capture significant momentum. General Atlantic is a strong backer of the digitization and personalization of education, and we are excited to leverage our expertise in this field to partner with Matt and the talented Quizlet team to continue to scale the business globally.”

As part of the transaction, Mr Munzig will join Quizlet’s Board of Directors. Additional terms of the deal were not disclosed.