Boulder, Colorado — January 29, 2015 — Woot Math (wootmath.com), an award-winning, education technology company, announced today that it has received new funding from Foundry Group. Foundry Group is a venture capital firm focused on making investments in early-stage information technology, Internet and software startups.
Woot Math was founded in March 2013, and is building software solutions to help every student become algebra ready. Woot Math officially launched in October 2014 after a year-long pilot program involving dozens of schools across the U.S. “Since launch, we have had strong growth and adoption in both elementary and middle schools” said Krista Marks, CEO and Co-Founder of Woot Math. “With the backing of Foundry, we are excited to accelerate that growth and to expand our product offerings.”
Woot Math was developed by a team of technologists and mathematicians, with a desire to bring proven adaptive learning to K-12 and beyond. The Woot Math founders believe that they can mimic the behavior of the best tutors, by coupling real-time instruction with scaffolded problems, presented in a way that student’s find fun and engaging. “The range of mathematical fluency in the classroom is a major hurdle that teachers face every day. I believe our technology can help identify and close some of the gaps in students’ understanding that they often have from earlier grades,” says Marks.
Woot Math is funded in part through the National Science Foundation (NSF). Woot Math recently published its research from a large-scale randomized controlled trial in which it proved that its adaptive technology significantly improves student learning outcomes. Woot Math also won honorable mention from the New York City Department of Education’s Gap App Challenge, a contest designed to garner apps targeting middle school math education improvement.
As part of the funding, Foundry Group Managing Director Jason Mendelson will join the Simbulus board. “The educational system is one of the last markets to resist technological advancement” says Mendelson. “We believe Simbulus is building a software application that will revolutionize the way that kids learn math.”
Woot Math is made by Simbulus Inc., an award-winning, education technology company focused on helping every student be algebra ready. The areas that keep students from succeeding in math are finite and well understood. Woot Math effectively addresses these areas by combining scaffolded problems and just-in-time instructional video, adaptively for each student. Woot Math’s NSF-funded research proves that its adaptive technologysignificantly improves learning outcomes. Woot Math doesn’t seek to replace the teacher, but to provide tools that make teachers more effective in reaching more kids.
Foundry Group is a venture capital firm focused on making investments in early-stage information technology, Internet and software startups. Our passion is working alongside entrepreneurs to give birth to new technologies and to build those technologies into industry-leading companies. We’re centrally located in Boulder, CO, but we invest in companies across North America.
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