I realize it’s not quite the end of the month, and perhaps there will be a few more investments announced before the year comes to a close. Nonetheless, here is the latest (we’ll call it “preliminary”) data on “the business of education” for December 2018:

  • Amount of venture capital invested during the month: $608.86 million
  • Number of investments: 15
  • Average investment size: $43.49 million / Median investment size: $5 million
  • Number of acquisitions: 8
  • Number of mergers: 0
  • Number of IPOs: 0
  • Number added to the “ed-tech dead pool”: 1

About three-quarters of the total amount this month raised went to one company: Indian test-prep provider BYJUs.

Note: I did not include Juul’s $12.8 billion investment from Marlboro in this month’s calculations, even though I very much want to count the Juul as ed-tech due to its “mindfulness” curriculum.

I’ll have more analysis in a final look at the year in the business of ed-tech soon.

Download the Data

As part of this project, you can review information from the last few years: who’s received funding, who’s been acquired, who’s IPO’d, which startups have closed, and who’s investing in the stories that Edsurge tells you about the shape of the education technology industry.

I have created separate GitHub repositories for all areas of funding that I monitor:

These sites include human- and machine-readable versions of this funding data. For more ed-tech data sets, visit Hack Education Data on GitHub or

(If you see an error or omission, please file a GitHub issue. You’re welcome to fork or download the repositories too, of course.)

Audrey Watters


Who's Funding Education Technology?

A Hack Education Project

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