Founders Fund, Andreessen Horowitz lead $33m Series A for AltSchool


education_lrgMicro-school network AltSchool has raised $33m in a Series A round of funding, which was led by venture investors Founders Fund and Andreessen Horowitz.

Existing investors First Round Capital and Harrison Metal also participated in the round alongside John Doerr, Jonathan Sackler, Learn Capital, and Omidyar Network.

AltSchool opened its first micro-school in San Francisco in 2013 and plans to open at least three additional micro-schools for the 2014-2015 academic year.

Founders Fund general partner Brian Singerman said, “Improving education is one of the most pressing issues of our time, and yet, less than one per cent of education-related expenditures are allocated to the kind of research and development that could bring primary education into the 21st century.

“It’s not every day that we see top-notch technologists coming together with exceptional teachers to rethink schooling from the ground up. We couldn’t be more thrilled to support AltSchool in its pursuit to accelerate the transformation we are seeing in the education space.”

In January it was reported that Founders Fund, which is led by Facebook investor and PayPal co-founder Peter Thiel, was seeking $750m for its new fund.

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