Edmodo, LinkedIn for schools, raises $15 million for its network
LinkedIn founder Reid Hoffman wanted to be an academic when he was younger. Now, he’s an entrepreneur helping academics.
Greylock Partners, where Hoffman toils these days as a venture capitalist, is joining Benchmark Capital in leading a $15 million funding round for Edmodo, an education network for teachers that allows them to talk to each other easily, keep track of assignments, conduct quizzes, and do other basic tasks.
The firms are contributing network-building advice along with their cash. Hoffman is taking a seat on its board along with Benchmark’s Matt Cohler, formerly vice president of product management at Facebook. Last year, Edmodo raised an undisclosed amount from Union Square Ventures and Learn Capital, who also participated in this new round.
Edmodo CEO Nic Borg says the company plans to use the cash to expand, particularly by hiring engineers, which have grown pricey in recent years. Edmodo was founded in 2008, and now has about 500,000 teachers and 4.5 million students signed up. Check out the screenshot below.