The year 2020 will be known as the year of the pandemic. It may also be remembered as the year EdTech reimagined education for the 21st Century. In 2020 alone Education Technology startups in the US raised over $2.2 billion in venture and private equity capital. This is a 23% increase in capital and a 19% increase in deals from the previous ‘non-COVID’ year of 2019, which by comparison raised $1.7 billion. The $2.2 billion marks the highest investment total in a single year for the U.S. EdTech industry.
While the pandemic has been a major disruptive force, it did propel millions of students, adults, and educators to rely heavily on new digital tools. The pandemic event also sent the EdTech industry into a creative think tank for tools to augment the needs of education. Many of these new tools and enhanced platforms have brought a more diverse educational arena to the world. New education funders jumped on opportunities to support products that not only serve as stopgaps but also to reimagine education for the long haul. A win for everyone!
The areas of EdTech that the most growth are in gaming and coding, online courses, financial aid tools, and educational videos. The online gaming platforms for kids, which has a growing educational component with resources that teach kids to code and design their own games, have been a leader. Online courses and financial management tools, especially to colleges and universities follow closely behind.
EdGate has worked with many EdTech companies to align their programs to current learning standards. Contact us to find out how we can assist with alignments, write lesson plans to fit your content, or assist in making your programs classroom ready.
By: Larry Johnson