Technology together with the COVID - 19 pandemic has established a new version of education, which is EdTech. Because of the quarantine, students have to attain education online at home. As a result, a new wave of flourishing EdTech companies has led to a variety of educational apps that aid learning. Here are the top 10 biggest Edtech Startups that have got astounding achievements in the early half of 2022.
Byju’s
Byju's, based in Bangalore, India, started working in the Edtech field in 2011. At first, Byju's was just an absolute learning platform. Now, this edtech startup is recognized as one of the well-known names in the industry and is actively expanding its footprint throughout the globe.
At present, Byju's app has 150 million users as of reports from March 2022, which is an abrupt increase from 80 million at the beginning of 2021. As of September 2020, the app had received over 2 million downloads from all across the world through Google Play. Through its mobile and web apps, kids from Grades LKG to 12 are provided with online video classes. Additionally, it also offers resources for the standard entrance tests in India for students to study.
What makes Byju's stand out is its gamified concepts of the video lessons that keeps students interested and makes learning enjoyable. According to statistics from 2020, users now spend 100 minutes every day using the app, compared to 70 minutes in the past. The fact that Byju's consistently innovates to produce excellent learning experiences for students keeps them at the top of the well-known edtech businesses list.
Read more: Reasons schools should embrace EdTech implementation
Blackboard
One of the biggest names in the edtech industry, Blackboard is a Washington-based organization founded in 2011. The business provides technology solutions for teaching, learning, and student engagement to help educators and students with high-quality education.
Blackboard has a $700 million market cap in total, which makes it a global edtech giant. The business seeks to transform online learning to the next level through the provision of goods and services for schools, corporations and the government. Moreover, they also assist educational institutions through their offerings in marketing, enrollment, LMS,...etc. Blackboard aids K–12 communities in teaching, learning, and maintaining connections. Additionally, businesses and even the government also use their goods and services to give skill training.
Coursera
Coursera, in a nutshell, is a well-known MOOC program based in California that links students with over 150 universities. Since they provide more than 4000 courses in a variety of subject areas, they assist students in getting the best education at their own pace.
Coursera inputs lots of its efforts on web and mobile platforms to provide students with on-demand video lectures. Additionally, they create forums where students can engage and learn from.
The business reached a total value of 7 billion USD, of which 313 million USD came from the successful completion in nine funding rounds. Early 2021 reports have shown that 82 million people have registered on Coursera. The pandemic led to an increase in Coursera users, many of whom turned to online education to get degrees or upgrade their professional skills. As a result, over the first two financial quarters of 2020, the company had seen a 40 to 50% increase in revenue.
Chegg
Established in 2005, Chegg is an online learning platform offering students a comprehensive educational experience. According to an estimation in 2021, Chegg had 7.8 million customers, a number that is predicted to rise as a result of the company's most recent advancements.
Chegg primarily operates in three key sectors of education. Firset, students can access educational resources using the platform. Second, students have the option of online tutoring. Finally, Chegg supports students' self-learning and homework assignments. In addition, students can also sell, rent, and trade books on Chegg’s platform.
Uversity, Chegg’s new product, is a platform introduced last year that enables instructors to share educational materials. The platform gives learners a relevant learning experience based on their needs, whether it be in the form of flashcards, videos, quizzes, math, or writing support. The technology that lies behind the success of this platform is student data and AI.
Teachers Pay Teachers
Also known as TPT, Teachers Pay Teachers is an educational technology company founded for teachers to communicate with one another and share teaching materials. TPT currently has a community of 7 million educators and a library of more than 5 million pieces of material developed by educators themselves to help them assist students' learning as well as learn from one another.
The company wants to foster and strengthen communication among educators by allowing teachers to buy and sell worksheets, lesson plans, and other resources from their colleagues. Teachers Pay Teachers, amazingly, is a well-known online marketplace for unique educational products that brings in $25 to $50 million annually.
Instructure
Founded in 2008, Instructure is another different edtech startup that offers the combination of LMS & MOOC to the teaching community. To be more specific, teachers cannot only develop new courses but they can also offer homework. The platform has attracted a total number of 3000 universities as well.
Currently, Instructure provides support to more than 30 million teachers and students across 6000 organizations worldwide. Additionally, there are about 6 million users who access Instructure on a regular basis.
Knewton
With the headquarters settled in New York, Knewton is an advanced education technology firm that focuses on giving students a customized learning experience through adaptive technology.
By letting students identify their strengths and weaknesses and assisting them in strengthening the areas they are weak in, Knewton promotes smart learning technology. Besides, teachers can access analytical reports from the portal regarding their pupils' performance.
Knewton’s mission is to make eLearning simple. They offer customized advice to students on what to study, analytics to teachers to better help students, and content insights to publishers to produce better educational materials.
Dreambox Learning
A Seattle-based eLearning startup called Dreambox Learning gains most of its popularity by using adaptive learning technologies to make arithmetic learning engaging. Dreambox distinguishes itself from others by assisting children in learning math using technology while others develop programs for broad education. At Dreambox, technology and education work together to make learning simple and enjoyable for kids.
Dreambox currently has 3 million active users and brings $21.4 million in income. Without forcing students to step out of their comfort zone, Dreambox enables students to learn at their own pace. To do that, they first assess the students' current level of knowledge before assigning courses to help them improve their weak points.
Simplilearn
Simplilearn is one of the few edtech companies that has provided professional education since 2010. Through four investment rounds, $31 million in funding has been raised by Simplilearn.
Employees can improve their abilities and learn more about the industry they work in with the aid of Simplilearn. If a user successfully completes the courses offered on the portal, they are awarded professional credentials. This enables professionals to hunt for greater employment opportunities while still keeping up with technological advancements in their sector.
Donorschoose
A non-profit edtech business called Donorschoose places an emphasis on practical learning. This is an EdTech platform that allows students to receive donations from donors for their projects. DonorsChoose has also raised a total funding of $7 million through 3 funding rounds. The business helps students carry out their ideas without concern for financial limitations by putting sponsors in touch with them. By doing this, they provide a learning atmosphere where pertinent concepts are applied practically.
FINAL WORDS
Due to the popularity of the edtech business more edtech companies may be formed in the years to come. However, It might be hard to tell exactly how big EdTech will grow in the future or whether it could take the shine of traditional education. Until now, EdTech still does its best to provide students with easier and more comprehensive learning, which helps to decrease the burdens for teachers.
