Knewton
| Company type | Private |
|---|---|
| Industry | Educational technology |
| Founded | 2008 |
| Founder | Jose Ferreira |
| Headquarters | New York City , United States |
Area served | Higher education, K-12 |
| Products | Adaptive learning platform |
Knewton is a company specializing in adaptive learning, established in 2008 by Jose Ferreira, who previously held an executive role at Kaplan. The firm provides a platform that customizes educational materials, primarily targeting STEM subjects within higher education. Through Knewton's technology, educational institutions, publishers, and developers can offer adaptive learning solutions tailored to the unique needs of each student.
In 2011, Knewton collaborated with Pearson Education to improve digital offerings such as the MyLab and Mastering product lines. Additional notable collaborations include partnerships with Houghton Mifflin Harcourt, Macmillan Education, and Triumph Learning, broadening Knewton’s presence in both K-12 and higher education sectors.
The company’s main office is located at 440 Park Avenue South in Manhattan, New York City, with an additional branch situated in London’s Tech City.
Description
Knewton delivers adaptive learning technology that empowers partners to create their own adaptive educational applications. Since 2016, the organization has focused on developing courseware for higher education by integrating content from various educational providers and open educational resources. Utilizing advanced real-time analytics on large datasets of student performance, Knewton identifies individual learner strengths and areas for improvement. The system tags concepts at a detailed level to generate personalized recommendations aligned with each student’s proficiency and requirements. The company initially introduced a GMAT preparation course, which has been discontinued since.
Back in 1995, researchers now affiliated with Knewton exposed weaknesses in the limited question bank of the Graduate Record Examination (GRE) computer-adaptive test, underscoring potential cheating vulnerabilities.
In January 2011, Arizona State University implemented Knewton’s adaptive platform for developmental mathematics and blended learning programs. This adoption led to a reduction in withdrawal rates from 13% to 6% and an increase in pass rates from 66% to 75%.
Funding history
Knewton’s first financing round generated $2.5 million from investors including Accel Partners, Reid Hoffman, Ron Conway, and Josh Kopelman of First Round Capital. In April 2009, it raised $6 million through a round led by Bessemer Venture Partners alongside returning backers. This was followed by a $12.5 million investment round in April 2010 spearheaded by FirstMark Capital. In October 2011, the company secured $33 million in Series D funding led by Founders Fund. By December 2013, Knewton closed a $51 million Series E round with Atomico as the lead investor, joined by GSV Capital and previous contributors. The largest funding event was a $52 million Series F round completed in February 2016, led jointly by Sofina and Atomico.
According to Wiley’s quarterly financial disclosures, the company acquired Knewton’s assets for less than $17 million in May 2019.