Achieve3000 Nabs $9MM Investment
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Internet-based instruction provider Achieve3000 has received a $9 million investment from venture capital firm Insight Venture Partners in New York. This is the largest investment to date in Achieve3000, which serves more than 500,000 students in more than 35 states, according to information released by the company.
Achieve3000 operates two principal sites: KidBiz3000 and TeenBiz3000. Both are designed to improve writing skills, reading comprehension, and vocabulary for students in grades 2 through 12.
Said Saki Dodelson, CEO of Achieve3000. "The most exciting aspect of this investment is that we hear and see the demand for our products everyday, and now we can truly accelerate our growth, enabling us to reach more kids across America with products that they enjoy and that work to improve reading and writing abilities. Our products are built on decades of scientific research into how children learn to read and are based on the findings of the National Writing Commission, National Reading Panel, and Reading Next."
According to Insight Venture Partners, the investment will be used to expand Achieve3000's reach and offerings, including the new Spark3000, which is a literacy program for adults.
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About the author: David Nagel is the executive editor for 1105 Media's online education technology publications, including THE Journal and Campus Technology. He can be reached at [email protected].
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