ImpactAlpha, January 25 – San Francisco-based Owl Ventures has closed its third global education fund, raising $315 million to invest in early and growth-stage tech companies in education and workforce development. The fund builds on the firm’s 24 investments and $600 million in assets under management. It will focus on digital tools addressing widening skills gaps and cover early education through to career mobility and professional learning.
Education and training are shifting rapidly as access to the internet and connected devices flourishes. “Millions of students and teachers around the world can now leverage innovative learning platforms,” Owl Ventures Tom Costin said in a statement.
Owl Ventures, launched in 2014, has been a catalytic investor for impact-focused education ventures, paving the way for larger subsequent funding rounds for a number of its portfolio companies. The firm invested in STEM software company DreamBox Learning in 2015, participating in DreamBox’s $10 million Series B round. DreamBox went on to raise $130 million from TPG’s Rise Fund last year.
Owl also invested in college “micro-scholarship” company RaiseMe’s Series A round in 2017. RaiseMe closed a $15 million Series B round backed by the Chan Zuckerberg Initiative, Salesforce Ventures, and Teamworthy Ventures in 2018.