{"id":15664,"date":"2020-07-23T09:51:32","date_gmt":"2020-07-23T13:51:32","guid":{"rendered":"https:\/\/news.elearninginside.com\/?p=15664"},"modified":"2021-03-01T11:45:26","modified_gmt":"2021-03-01T16:45:26","slug":"american-edtech-unicorns-have-surged-in-2020-what-do-they-tell-us-about-the-sector","status":"publish","type":"post","link":"https:\/\/news.elearninginside.com\/american-edtech-unicorns-have-surged-in-2020-what-do-they-tell-us-about-the-sector\/","title":{"rendered":"American Edtech Unicorns Have Surged in 2020. What Do They Tell Us About the Sector?"},"content":{"rendered":"

What\u2019s in a unicorn? When Cowboy Ventures founder Aileen Lee coined the term in 2013, the world had only 39 startups valued at $1 billion or more. Today, CB Insights counts 465<\/a>. Back in 2018, Quartz\u2019s Alison Griswold described them<\/a> as a \u201csizable herd.\u201d Though the status may be diluted, startups that grow a horn certainly capture our imaginations. And as the folks at Embroker write<\/a>, \u201cwe can still look at the herd as a whole to pick out patterns.\u201d So: what patterns can we glean from American edtech unicorns?<\/p>\n

The answer would be incomplete without a qualification regarding the pandemic.<\/p>\n

EdSurge\u2019s Rebecca Koenig said it best<\/a>: \u201cFor the edtech industry, the pandemic poses a paradox.\u201d On the one hand, schools, families, and organizations need digital learning tools and resources now more than ever. On the other hand, unemployment is ramping up and budgets are getting slashed.<\/p>\n

When the pandemic broke out, many (including us<\/a>) speculated about how it would affect the edtech industry. It\u2019s too early to come to solid conclusions. But in recent weeks, signs of strong vitality have emerged. Q2, which sees the end of the school year, is normally quiet in the sector. But between April and July, the sector ushered in two new unicorns: Quizlet<\/a> and the Canadian startup ApplyBoard. The previous quarter brought forth two more: Course Hero and Udemy. U.S. edtech set a 2020 venture round record in the month of July\u2014twice<\/a>. We\u2019re taking the opportunity to look at American edtech unicorns to see what they say about the sector at large.<\/p>\n

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Edtech\u2019s newest unicorn, ApplyBoard, lands $1.4B valuation with fresh funding https:\/\/t.co\/52zvKdY5qk<\/a><\/p>\n

— Jeremy Foxx (@jeremydfoxx) July 20, 2020<\/a><\/p><\/blockquote>\n