Can The Potential Impact Of EdTech Startups Be Measured By How Much They Raise?

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Can The Potential Impact Of EdTech Startups Be Measured By How Much They Raise?

Before the year started, some tech outlets were declaring 2017 the year where EdTech would become the new FinTech. “FinTech” lumps tech-based financial solutions that have “completely taken the world by storm and forever revolutionized how we bank,” thus propelling us into “the fourth industrial revolution.” If true, then I guess paying for stuff with phones had comparable social and economic consequences to those that came with the invention of the steam engine in Europe at the turn of the 18th century.

It would also mean that, while we wait for a significant increase in our collective standards of living and real income, courtesy of FinTech, a similar interfering wave is upon us. Who could be the Samuel Cromptons, the James Watts, or the Richard Trevithicks of EdTech? forbes.com has some ideas:

Data Society, an online course provider of data science courses. It boasts its ability to make you “master Data Science in your own time even if you know zero about coding,” get a 40% raise, and “go from ‘Data Newbie’ to ‘Industry Leader’ and watch revenues soar.”

Mind Sumo, a problem-solving platform connecting programmers from all walks of life with real challenges faced by corporations, awarding them cash prizes. Mind Sumo raised over $1.6 million USD in 2016.

BenchPrep, a test- and certification-prepping solution. With 25 employees, they have raised $8.2 million USD.

AdmitSee, a searchable student records database, akin to a LinkedIn of academic applicants. AdmitSee has raised $2 million USD so far.

TopHat, an “all-in-one teaching platform.” VCs have poured over $40 million USD into this cloud-based company, which boasts 750 colleges and universities as customers.

SchoolApply, an international studies application platform. It has received $2.2 million USD. SchoolApply placed 200 students in programs abroad in 2016.

According to a similar outlet, EdTech is expected to reach $252 billion USD in funding by 2020, at a 17% annual growth rate.

See the rest of the list at forbes.com.


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