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March 18, 2014

A Big Day for the AltSchool Team

AltSchool Founder and CEO Max Ventilla

A year ago, what started as a preschool search for my daughter became a hard look at today's education options. The next thing I knew, the question of whether we'd be admitted to the right school for us became a quest to create ideal options for more parents. In starting a new school system that can scale and improve with scale, we have stood on the shoulders of giants; from both the education space and from the broader technology space around us. I am incredibly grateful for what’s been possible in 12 short months.

Not long after I had the idea of AltSchool, I was joined by more than a dozen world-class team-members—child-centered educators, engineers, designers, and operations experts—many of whom I’d had the pleasure of working with in the past. Together we opened a pilot school (in two months) that fully personalized education in a classroom setting. Since then, we’ve kept learning by doing, building technologies to better serve students, parents, and teachers. The $33 million in Series A funding that we’re announcing today allows us to keep building toward AltSchool’s mission of enabling all children to reach their potential.

We are thrilled to have Founders Fund and Andreessen Horowitz lead this investment round. Their experience with transformational businesses is unmatched and, together, we are committed to bringing that passion and innovation into the world of primary education. The involvement of education heavyweights John Doerr, Jonathan Sackler, Learn Capital, and Omidyar Network underscores the contributions we can make to the school ecosystem in the U.S. and beyond. Finally, we are extremely pleased to receive substantial follow-on funding from First Round Capital and Harrison Metal, who backed us before there was much to back besides an idea and a team.

At AltSchool, we are mission-driven at our core. To that end, I am proud to announce that in conjunction with this fundraiser, AltSchool is starting the process to become a certified B Corp.—a new type of company that uses the power of business to solve social problems. We plan to offer the best education possible for countless students over the coming decades and today marks a massive inflection in our ability to reach that goal. My sincerest thanks to the parents, students, teachers, team-members, and investors who have put their trust in AltSchool to date. We will continue to work incredibly hard to justify that trust.  



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