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Seed funding raised for Newsela

October 11
1:10 PM 2013

Newsela is an online platform which helps students master reading and critical thinking. It had announced today the raising of USD1.2 million in seed funding. The funding round was led by New Schools Venture Fund and Kapor Capital.

Newsela publishes news articles daily from top news sources. Ther articles are written in five different reading levels, between grades 3 and 12. The platform adapts to each student's reading aptitude and interests. WIth the funding, the company would expand its daily offer of news articles for multiple reading levels and quizzes.

According Newsela Founder and CEO Matthew Gross, "Teachers know that their kids need to reach much more nonfiction in order to be ready for the Common Core and life. But the dull K12 content and cookie Cutter tools that teachers have been given are just aren't cutting it. Reading non-fiction should be enthralling, relevant and personalized and that's what Newsela delivers."

Since its June launch, the company has experienced exponential growth, where teachers in all 50 states and 61 counties have joined Newsela. The average registration rate is 400 teachers and 2,000 students per day.

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