DreamBox Learning, the Bellevue, Wash., maker of an adaptive K-8 math education platform, announced Tuesday that it has raised a whopping $130 million.
The funding comes exclusively from The Rise Fund, a venture capital firm focused on social impact. The Rise Fund will take a majority stake in DreamBox and Arne Duncan, former U.S. Education Secretary and senior education advisor to The Rise Fund, will join DreamBox’s board of directors.
The news is a big milestone for DreamBox, which is arguably the most prominent education technology startup in the Seattle area. The company said the funding will go towards scaling all aspects of its operations and expanding its machine-learning fueled platform into more schools around the world.
“DreamBox was founded with the mission to transform the way the world learns by using intelligent adaptive technology to dynamically and continuously personalize each student’s learning experience,” DreamBox CEO Jessie Woolley-Wilson said in a press release. “As a company, we have been committed to unlocking the learning potential of every child regardless of what zip code they live in, what they look like, or what language they speak. By joining forces with The Rise Fund, DreamBox gains a partner whose mission of social impact is perfectly aligned with ours.”
DreamBox has been fairly quiet since 2015, when it announced a $10 million series B round. It recently launched a Spanish version of its platform in Mexican schools and its technology is used by nearly 3 million students. It is also the highest ranked of any education technology company on the GeekWire 200, GeekWire’s ranking of private companies in the Seattle area, coming in at number 30.
The platform uses machine learning to personalize math lessons for students in elementary and middle school. It also lets teachers and administrators track student progress and provides tailored professional development materials.
DreamBox Learning was founded in 2006. In 2013, it raised $14.5 million from investors including then Netflix CEO Reed Hastings.