Powerful application development platforms showed up in 2009; iPads and a handful of viral freemium EdTech apps came along in 2010. One that has turned the corner and become a viable business and a classroom game changer is MasteryConnect.
This summer, software-as-a-service provider MasteryConnect acquired competitor Socrative (see WSJ coverage of the $5 million deal). Both companies make assessment tools that allow teachers to quickly assess student progress and share those quizzes with other teachers. MasteryConnect also acquired Perige, a design and development agency.
MasteryConnect also has popular apps that explain common learning expectations and allow teachers to pin resources to those standards. Time saving grading tools include a bubblesheet scanner. A mastery tracker feature notes progress against state standards and redefines the report card (see feature).
Sales were north of $5 million in the fiscal year year ending June 30 and will more than double that this year. The Salt Lake City team grew from 35 in February, to 70 in July.
MasteryConnect raised $1.1 million in a seed round NewSchools Venture Fund and $7.9 million in a Series A round led by and Catamount Ventures (both including Learn Capital, where I’m a partner). Socrative, of Cambridge, MA, previously raised $760,000 in seed funding in a round led by True Ventures. The combined company just closed a $15 million round led by Trinity Ventures. Partner, Larry Orr, will be joining the Board.