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MasteryConnect Raises $15.2 Million to Accelerate Development of Mastery Learning Platform for K-12 EducationSALT LAKE CITY --(Business Wire)-- Education technology leader MasteryConnect today announced it has secured $15.2 million in Series B funding, which will accelerate the company's mission to empower educators with a platform to monitor levels of student understanding in real time and help them personalize learning and improve outcomes for students in K-12 education. The funding round, which brings MasteryConnect's total private funding to more than $24 million, was led by Trinity Ventures with additional participation from Pelion Ventures and Catamount Ventures. In connection with the funding round, Larry Orr, general partner at Trinity Ventures, will join MasteryConnect's board of directors, marking his 20th investment during his tenure with the firm. "At MasteryConnect's core is a belief in teachers, and that the right technology makes it possible for teachers to personalize education at scale. Teachers are critical, and suggesting we can replace educators with technology is tantamount to suggesting you can replace me as a parent. Teachers do the work, and we're honored to provide a platform to help," said Cory Reid, CEO of MasteryConnect. "This funding round is further validation of our mission and will give us additional flexibility to build the tools today's educators need, many of which are free." The funding announcement comes amid exponential growth for MasteryConnect, whose technology is currently utilized in 85 percent of U.S. school districts acoss all states and in more than 175 countries, reaching 21 million students and 1 million teachers. To meet growing demand, MasteryConnect has more than doubled its employee base, expanding from 35 employees in March 2014 to more than 70 today. In June, MasteryConnect acquired Cambridge, Mass.-based Socrative, a student response system that increases classroom engagement, for $5 million in cash and stock. The Socrative acquisition adds functionality such as intra-instruction assessment and educational games to MasteryConnect's growing suite of tools for personalizing K-12 education. MasteryConnect's product suite can be accessed here. "We believe mastery-based learning is the future of education, but there has been a dearth of benchmark and formative assessment products to help teachers and students succeed," said Larry Orr, General Partner at Trinity Ventures. "With the nationwide adoption formative assessment becoming the norm, most notably through state and common core standards, the time has come for a platform to help teachers manage the vital process of personalizing instruction more efficiently and effectively."
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