The company, which combines standout teachers, parental guidance, technology and deep research to offer K-8 students wholly personalized classroom learning, has now raised $36 million in total funding, including a previous $3 million seed round. Having opened its first micro-school in San Francisco in 2013, AltSchool plans to open at least three additional schools in the Bay Area for the 2014-2015 academic year.
While AltSchool's Series A is a rather large round in general, it's particularly large for the education industry, in which investors have completed a total of 494 U.S.-based VC deals since the beginning of 2009, according to the PitchBook Platform. The $33 million financing ranks among the 15 largest rounds in the space during that time. With that said, capital invested in the industry each year has increased, more than tripling from $211 million in 2009 to $726 million in 2013; with $283 million invested so far in 2014, the year is easily on pace to yet again best the previous year's total. Aside from a slight dip in 2013, the number of deals completed in the industry each year has also increased, shooting up from 50 in 2009 to 137 in 2012. On pace to reach $1 billion in total capital invested in 2014, the education industry has quickly established a major presence within the venture capital scene.