Schoology Raises $6 Million To Compete Against Blackboard & Moodle

Sites include blackboard.com , moodle.org , schoology.com . Published on May 7th, 2012. Written by Anthony West.

Technology is now well and truly in our schools and learning management company, Schoology, is gunning to be one of the top names in the space.

The company announced recently that it had raised $6 million in Series B funding to help the company take on the two biggest players in the market, Blackboard and Moodle. The funding round was led by FirstMark Capital which was joined by Series A investor Meakem Becker Venture Capital, and marks a serious push to pump some serious cash into the young start-up. Early funding for Schoology was $3.3 million which now brings the total funding for the company to $9.3 million.

Schoololgy is part of a new breed of startups that are looking to bring open educational resources to schools and universities. Its main competitors like Blackboard and Moodle has greatly enhanced the chances of wide scale adoption through their implementation of interactive digital learning systems to many schools and universities across America.

It’s this window for growth that is getting investors excited about the open educational resources space. Said FirstMark Managing Director Amish Jani: “Schoology doesn’t need to spend months and years convincing heads of a school system that the technology suits their needs, instead, “users simply adopt it, and Schoology then has the privilege of notifying districts or universities about additional capabilities available to them with a few clicks of a button.”

$9.3 million should be enough to spur development and spread the word about Schoology, so watching it grow in the coming years will be very interesting.