DreamBox Learning has closed an $11 million investment round led by Netflix CEO Reed Hastings, who will invest through the Charter School Growth Fund, and a private investment by venture capitalist John Doerr. GSV Capital and current investor Deborah Quazzo also joined this round. DreamBox Learning will use the newly acquired funds to expand its award-winning curriculum, fuel future product development, and expand distribution and adoption.DreamBox Learning was founded in 2006 in Bellevue, Washington and acquired in April 2010 by the Charter Fund in partnership with Reed Hastings, CEO of Netflix, Inc. The Intelligent Adaptive Learning company launched a Web-based platform and its first online learning product in January 2009.
"DreamBox Learning's highly seasoned executive management team has executed against an aggressive institutional market growth strategy, catapulting the company into the leadership position within the adaptive learning sector and they've only just begun," said Reed Hastings. "This additional investment underscores my commitment to bring the power of DreamBox Learning to every school, classroom and student across the U.S. to help motivate kids to become masters of mathematics."
Since 2010, nearly 500,000 elementary students from all 50 states have logged onto DreamBox Learning to view more than 11 million lessons.
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