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Bessemer backs $15m Series B for education analytics company BrightBytes

12 Mar 2014

school-trip_lrgBessemer Venture Partners has led a $15m Series B financing round for educational analytics business BrightBytes, which counts almost one in every 10 US schools as a customer.

Existing investors including Rethink Education and Learn Capital also took part in the round. NewSchools Venture Fund was an earlier backer.

Bessemer partner Rob Stavis said, ”The BrightBytes team is changing the way school leaders think about data, and in the process, they are building an organization that will redefine the landscape of K-12 education and the outcomes of millions of school-age children.

“With thousands of schools already using BrightBytes’s Clarity platform, their technology is clearly resonating with educators and the educational research community.

“We are excited to be investing in a team and organization that has lived these problems first hand and is helping to revolutionize our educational system–and student outcomes–for the better.”

AltAssets revealed last month that high-impact education technology-focused New Schools Seed Fund had hit its $12m target.

The fund is one of the most active investors in US education technology, having seeded a quarter of all new investments in the space last year.

It has also partnered with investors such as Accel Partners, Relay Ventures and Kapor Capital for co-investments, and has the target of supporting 55 education technology ventures by the end of 2015.

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