Kiddom provides a digital curriculum that meets the basic requirements of states. Altos Ventures led the $35 million Series C investment. Khosla Ventures, Owl Ventures and Outcomes Collective participated. This funding round follows Kiddom’s Series A, a $15m round, which was led by Owl by nearly three years.
This startup not only created but also raised money. Kiddom was founded in 2012 and raised millions of dollars despite having no income or business plan. Kiddom’s CEO, Ahsan Rizvi, and Chief Academic Officer Abbas Manjee think that adoption should have been the focus of Kiddom’s early attention. Manjee stated that they were not financially profitable in Series B.
Kiddom spent the majority of its funding on developing its enterprise product. It can be divided into two parts. The first section provides a framework to allow schools to integrate all their platforms into one user interface that tracks student achievement and usage. It also provides the platform it has been working on for years. A digital curriculum that conforms to Common Core is a set academic standards for maths, and English, that students are expected to learn grade-by-grade.
This is the most difficult product to market for Kiddom. However, it is also the most lucrative. Manjee pointed out that vendor approval procedures in the United States can be difficult and risky because only a few suppliers are available to decision-makers when they need to meet fundamental requirements.
If Kiddom is to succeed, it must be able to compete with traditional curriculum suppliers like McGraw-Hills and Pearsons around the world. Rizvi claims that older businesses are “losing market share quickly” at the moment. Last year, Rizvi canceled plans for a McGraw-Hill-Cengage merger that would have created new competition in the curriculum market.
Consumers have also expressed interest in the product. Kiddom reported that ARR growth was up by 2,525 per cent in its first year. However, it declined to give any further details. Between 2020 and 2021, the ARR will increase by more than 300 percent. According to the study, at least one American instructor uses their software in 70 percent of American classrooms. This statistic has not changed since 2018.
Kiddom’s recent funding and revenue show how its years in product development have kept it competitive before investors, synergistic unicorns and, most importantly, school districts.