A list recognizing the most transformational companies in Education Technology
San Francisco, CA, (Jan. 7, 2022) — NovoEd, the leading social and collaborative learning platform for deep capability building, has been included in the GSV EdTech 150, a list of the world’s most transformative growth companies in digital learning curated by female-led, multi-stage venture capital firm GSV Ventures.
NovoEd was chosen from over 3,000 venture capital and private equity-backed private companies revolutionizing the world of education technology. GSV estimates that together these 150 companies reach roughly 3 billion people — almost half of the global population — and generate approximately $20 billion in revenue.
GSV launched the list of education technology leaders in 2020 with the EdTech 50. Due to rapid growth in the sector, necessitated by a global pandemic and continued remarkable technological evolutions, the list increased to 150 in 2021. In 2022, the sector shows no signs of slowing down with the 150 companies selected for this year’s list collectively experiencing revenue growth in the high double digits.
Learn more about the GSV EdTech 150 and the selection process here.
“For the second year in a row, NovoEd is proud to be counted among the few North American enterprise providers on GSV Ventures’ list,” said NovoEd CEO and Chairman of the Board Scott Kinney. “This recognition underscores our company’s continued commitment to innovation and excellence as a social and collaborative learning platform. GSV Ventures, with an expertise in the $7 trillion global education market, has a unique insight into the digital learning sector and which companies are driving digital disruption.”
“Today, we announce the annual GSV EdTech 150,” said Luben Pampoulov, Partner at GSV Ventures. “As the global pandemic continues to drive learners online, more and more companies are innovating in the digital learning space — making it increasingly competitive for companies to make the top 150. We evaluated over 3,000 companies globally this year. The way GSV sees it, Ed is on The Edge, and increasingly more companies have the ideas, know-how, and talent to transform the world and provide all people equal access to the future. We know these companies are well-equipped to help us achieve that goal, and we look forward to watching them do so.”
To arrive at its listing, GSV evaluated more than 3,000 venture capital and private equity-backed private for-profit companies that met the following criteria:
VC or PE-backed companies in Digital Learning, excluding public and nonprofit companies
Companies that have achieved meaningful scale, and primarily, but not exclusively, those that are post-Series A in their development
The final selection is determined by GSV’s proprietary scoring system, which applies scores across several KPIs such as revenue scale, revenue growth, active learner reach, international reach, and margin profile.
The GSV EdTech 150 is distributed across three major sectors: Life-Long Learning, Higher Ed, and K-12. Life-Long Learning (inclusive of Workforce Learning and Adult Consumer Learning) is the leading sector with 42% of the GSV EdTech 150 falling within the category, with an additional 5% of companies serving the Life-Long Learning and Higher Ed blend and another 3% serving both K-12 and Life-Long Learning. Together K-12 and Early Childhood account for 27% of the list, while companies in the Higher Ed sector account for just 5% and 9% of the GSV EdTech 150 serve a blend of the two. Excitingly, more companies are serving all sectors than ever before, with 9% of the GSV EdTech 150 serving all three major sectors.
North America — specifically the United States — is the most represented region accounting for 56% of the GSV EdTech 150. 11% of the GSV EdTech 150 hail from India, whose market is experiencing explosive growth with five EdTech unicorns that include BYJU’s, Eruditus, Unacademy, Upgrad, and Vedantu. Europe, Africa, and the Middle East represent 17% of the listing, with several high-quality, fast-growing companies such as OpenClassrooms, Multiverse, and Photomath. Asia, Australia, and New Zealand account for 11% of the list, while China experienced a significant decline in representation due to increased government regulation. Latin America represents 5% of the list and shows strong growth trends, with companies like Hotmart, Descomplica, and UOL EdTech leading the way.
GSV Ventures is a female-led, multi-stage venture capital firm focused on the $7+ trillion education sector. The fund is currently investing out of GSV Ventures Fund III and backs innovative entrepreneurs around the world in the “Pre-K to Gray” Arc of Learning. GSV manages over $675 million in global EdTech investments. Portfolio holdings include Andela, Class Technologies, ClassDojo, Coursera, Course Hero, Degreed, Guild, MasterClass, Outlier, Photomath, Quizizz, Lead School, Brightchamps, and ClassPlus, among others.
Founded at Stanford’s Social Algorithms Lab in 2012, NovoEd is a capability-building platform that combines social and collaborative learning to unlock performance readiness at scale. Through cohort-based experiences, NovoEd taps into collective wisdom, placing each learner at the intersection of perspective, application, and expertise. Large enterprises such as 3M, GE, and Nestlé partner with NovoEd to accelerate their critical initiatives, reconnect teams, and achieve rapid alignment through learning that is deeply felt and experienced and swiftly transformed into impact. Visit https://www.novoed.com/ to learn more.
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