Knewton
{{Use mdy dates|date=July 2013}}
{{Infobox company
| name = Knewton, Inc.
| logo = Knewton Logo.svg
| type = Private
| industry = Education Technology
| key_people = Brian Kibby (CEO)
Ryan Prichard (CTO President)
Jennifer Grunebaum (CFO)
Jose Ferreira (Founder)
| services = Infrastructure platform for adaptive learning
| num_employees = 150
| slogan =
| foundation = 2008
| location = New York, NY
| homepage = [http://www.knewton.com knewton.com]
}}
Knewton is an adaptive learning company that has developed a platform to personalize educational content as well as has developed courseware for higher education concentrated in the fields of science, technology, engineering, and mathematics. The company was founded in 2008 by Jose Ferreira, a former executive at Kaplan, Inc. The Knewton platform allows schools, publishers, and developers to provide adaptive learning for any student. In 2011, Knewton announced a partnership with Pearson Education to enhance the company's digital content, including the MyLab and Mastering series.{{cite news
|url=https://www.forbes.com/sites/bruceupbin/2011/11/01/pearson-knewton-team-up-to-personalize-college/
|title=Pearson, Knewton Team Up To Personalize College
|first=Bruce
|last=Upbin
|date=October 31, 2011
|accessdate=2011-11-02
|work=Forbes}} Additional partners announced include Houghton Mifflin Harcourt, Macmillan Education, Triumph Learning, and over a dozen others.{{cite news
|url=http://thejournal.com/articles/2013/06/10/houghton-mifflin-harcourt-knewton-partner-to-offer-blended-k12-math-program.aspx
|title=Houghton Mifflin Harcourt, Knewton Partner To Offer Blended K-12 Math Program
|date=June 10, 2013
|accessdate=2014-10-15
|publisher=THE Journal}}{{cite news
|url=http://gigaom.com/2013/05/21/knewton-teams-up-with-macmillan-to-bring-adaptive-learning-beyond-k-12-and-higher-ed/
|title=Knewton teams up with Macmillan to bring adaptive learning beyond K-12 and higher ed
|first=Ki Mae
|last=Heussner
|date=May 21, 2013
|accessdate=2013-05-28
|publisher=GigaOm}}{{cite news
|url=http://www.edsurge.com/n/2013-03-05-knewton-partners-with-triumph-learning-takes-first-steps-into-k-12-space
|title=Knewton partners with Triumph Learning, takes first steps into K-12 space
|date=March 5, 2013
|accessdate=2013-05-28
|publisher=EdSurge}}
Knewton's headquarters are at 440 Park Avenue South in Manhattan, New York City. The company also has an office in Tech City, London.
Description
Knewton is an adaptive learning technology provider that makes it possible for others to build adaptive learning applications. In 2016, the company also began developing courseware for higher education classes using content from educational companies and open educational resources. Knewton technology enables the company to perform "sophisticated, real-time analysis of reams of student performance data."{{cite news
|url=https://nation.time.com/2013/06/06/the-adaptive-learning-revolution/
|title=The Adaptive Learning Revolution
|first=Kayla
|last=Webley
|date=June 6, 2013
|access-date=2013-06-13
|publisher=TIME}} Knewton uses adaptive learning technology to identify each student's particular strengths and weaknesses. Concepts are tagged at very specific levels, which allows the platform to make custom recommendations based on students’ proficiency and needs. The company first launched with a GMAT preparation course,{{Cite web |url=http://businessmajors.about.com/od/satgmatpreparation/a/KnewtonInt.htm |title="Knewton GMAT Prep Course", About.com, January, 2009 |access-date=February 23, 2009 |archive-date=February 16, 2009 |archive-url=https://web.archive.org/web/20090216000814/http://businessmajors.about.com/od/satgmatpreparation/a/KnewtonInt.htm |url-status=dead }} which has now been discontinued.{{cite web |url=http://www.knewton.com/gmat |title=Score 50 Points Higher on the GMAT or Your Money Back - Knewton Test Prep |website=www.knewton.com |url-status=dead |archive-url=https://web.archive.org/web/20081019114948/http://www.knewton.com/GMAT |archive-date=2008-10-19}}
In 1995, researchers now working for Knewton proved that the small question pool available to the Graduate Record Examination (GRE) computer-adaptive test made it vulnerable to cheating.{{cite news
|url=https://www.nytimes.com/1995/01/04/us/computer-admissions-test-to-be-given-less-often.html?scp=1&sq=Jose%20Ferreira%20ets&st=cse
|title=Computer Admissions Test to Be Given Less Often
|first=William
|last=Honan
|date=January 4, 1995
|accessdate=2009-06-30
|work=New York Times}}
In January 2011, Arizona State University began running developmental math and blended learning courses using Knewton's adaptive technology.{{cite news
|url=http://tech.fortune.cnn.com/2011/01/07/is-the-google-fication-of-education-underway/
|title=Is the Google-fication of education underway?
|first=Scott
|last=Olster
|date=January 7, 2011
|accessdate=2011-01-07
|publisher=CNN Money
|archive-url=https://web.archive.org/web/20110108032553/http://tech.fortune.cnn.com/2011/01/07/is-the-google-fication-of-education-underway/
|archive-date=January 8, 2011
|url-status=dead
}}
"The portion of students withdrawing from the courses fell from 13% to 6%, and pass rates rose from 66% to 75%".{{cite news
|url=https://www.forbes.com/sites/bruceupbin/2012/02/22/knewton-is-building-the-worlds-smartest-tutor/
|title=Knewton Is Building The World's Smartest Tutor
|first=Bruce
|last=Upbin
|date=February 22, 2012
|accessdate=2011-03-16
|work=Forbes}}
Funding history
In its first round of funding, Knewton raised $2.5 million in investment capital from Accel Partners, Reid Hoffman, Ron Conway, and Josh Kopelman at First Round Capital.{{cite news
|url=https://venturebeat.com/2008/05/27/knewton-raises-25-million-for-education-services-software/
|title=Knewton raises $2.5 million for education services software
|first=Dean
|last=Takahashi
|date=May 17, 2008
|accessdate=2009-02-02
|publisher=Venture Beat}} In April 2009 Knewton closed a $6 million round of funding led by Bessemer Venture Partners with returning investors,{{cite news
|url=https://techcrunch.com/2009/04/07/knewton-bags-6-million-series-b-round-for-adaptive-learning-platform/
|title=Knewton Bags $6 Million Series B Round For Adaptive Learning Platform
|first=Robin
|last=Wauters
|date=April 7, 2009
|accessdate=2009-04-07
|publisher=TechCrunch}} and in April 2010 Knewton closed a $12.5 million round of funding led by FirstMark Capital with returning investors.{{cite news
|url=https://techcrunch.com/2010/04/19/knewton-funding/
|title=Educational Technology Company Knewton Scores $12.5 Million More
|first=Robin
|last=Wauters
|date=April 19, 2010
|accessdate=2010-04-19
|publisher=TechCrunch}} In October 2011 the company closed a $33 million series D round of funding led by the Founders Fund.{{cite news
|url=https://techcrunch.com/2011/10/13/founders-fund-33-million-learning-knewton/
|title=Founders Fund Leads $33 Million D Round in Learning Startup Knewton
|first=Erick
|last=Schonfeld
|date=October 31, 2011
|accessdate=2011-10-31
|publisher=TechCrunch}} In December 2013 the company closed a $51 million series E round of funding led by Atomico, joined by GSV Capital and returning investors.{{cite news
|url=https://techcrunch.com/2013/12/19/powering-smart-content-for-publishing-giants-knewton-lands-51m-to-take-its-personalization-engine-global/
|title=Powering Smart Content For Publishing Giants, Knewton Lands $51M To Take Personalized Learning Global
|first=Rip
|last=Empson
|date=December 19, 2013
|accessdate=2014-01-20
|publisher=TechCrunch}} In February 2016, Knewton closed a series F $52 million round, its largest to date, led by Sofina and Atomico.{{Cite web|url=https://www.edsurge.com/news/2016-02-04-knewton-closes-a-52-million-round-to-grow-internationally|title=Knewton Closes a $52 Million Round to Grow Internationally (EdSurge News)|date=2016-02-04|language=en-US|access-date=2016-07-19}}
In May 2019, Wiley acquired the assets of Knewton.{{Cite web|url=https://www.insidehighered.com/digital-learning/article/2019/05/07/wiley-buys-knewton-adaptive-learning-technology-company|title=Wiley buys Knewton, an adaptive learning technology company {{!}} Inside Higher Ed|website=www.insidehighered.com|language=en|access-date=2019-12-10}} Financial terms of the deal were not initially disclosed, but a quarterly earnings report indicated that Knewton was acquired for less than $17 million.
References
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