Flat World Education, the largest publisher of open college textbooks for students worldwide, secured an impressive amount of funding this week. According to VC News Daily, the D.C.-based academic content and software company $9.5 million in a financing round led by Bessemer Venture Partners.
The financial support follows Flat World’s most recent growth and expansion efforts, most notably a new development partnership with California’s Brandman University. Flat World – which focuses on enabling universities to provide competitive, unique courses and degree programs – is working with Brandman to offer students an online, competency-based bachelor of business administration degree.
The courses will be available entirely via mobile device, cutting the price tag of an advanced degree by approximately 65 percent.
Thanks to its new funding, Flat World will be able to further grow its platform, which has already provided more than one million students with access to affordable and informative textbooks in 77 countries.
“Major change initiatives in education will enable our workforce to compete in today’s rapidly moving global economy,” Omid Jahanbin, Vice President of Marketing at Flat World, wrote in an email. “We see personalized education, enabled by educators, adaptive technology and analytics, as one of the initiatives that holds great potential. This latest round of financing supports growth in our core business and expansion as we further develop our vision of personalized learning solutions at scale.”
Flat World’s decision to develop a mobile-first learning platform shows how far the company has come since its founding in 2007. Innovating in an industry often criticized for shying away from change and technological advancement, Flat World is making the move from standardized education to personalized learning as natural as possible.