Kiddom is a platform that provides a digital curriculum that complies with the fundamental requirements demanded by states. They secured a $35 million Series C investment, headed by Altos Ventures, with participation from Owl Ventures, Khosla Ventures, and Outcomes Collective. This round of funding followed Kiddom’s Series B, a $15 million round led by Owl, by almost three years.
The startup finally figured out how to create money, not only raised it. Kiddom, which was established in 2012, raised millions despite not having any income or a distinct business plan. However, Kiddom’s CEO and co-founder Ahsan Rizvi and Chief Academic Officer Abbas Manjee believe that early attention should have been paid on adoption rather than profit. They were unquestionably not profitable at our Series B, Manjee claimed.
The majority of Kiddom’s funding went into the development of its enterprise product. It is divided into two sections. It first provides a framework that enables schools to combine all of their many platforms into one user experience that monitors student usage and accomplishment. Second, it provides that platform in addition to the product it has been developing for years: a digital curriculum that adheres to Common Core, a set of academic standards for maths and English that children are expected to acquire on a grade-by-grade basis.
The latter is possibly the most difficult to market for Kiddom, but it is also the most profitable. Manjee noted that because decision-makers only resort to a select group of suppliers when it comes to achieving fundamental requirements, vendor approval procedures can be laborious and risky across the United States.
The Pearsons and McGraw-Hills of the globe and other traditional curriculum suppliers must not keep up with the digitalization of education if Kiddom is to be successful. Older businesses are currently “losing market share fast,” according to Rizvi. A planned combination between McGraw-Hill and Cengage that would have brought new competition to the curriculum market was shelved last year.
Some consumers also have expressed interest in the product. Kiddom stated that new ARR growth increased by 2,525 percent in its first year, but it declined to provide any details. ARR increase is anticipated to exceed 300 percent between 2020 and 2021. It claimed that at least one instructor uses their software in 70% of American classrooms, a statistic that hasn’t changed since 2018.
The recent financing and revenue generated by Kiddom demonstrate how its years of product development have maintained it competitive in the eyes of investors, synergistic unicorns, and the most demanding business customer of all, school districts.