Tutor.com Secures $13.5 Million in Expansion Funding
Tutor.com, a leader in live, on demand tutoring services, recently announced new venture investments of $13.5 million to fund expansion of Tutor.com Direct, the company's on demand tutoring service for students and families. The equity growth funding of $9.5 million was led by Intel Capital and included investments from Ascend Venture Group, Kidron Opportunity Fund and previous investor Dawntreader Ventures. Tutor.com also secured $4 million in venture debt financing from MMV Financial based on the strength of its established institutional business.
“On demand, one-to-one learning delivered directly to families via the Internet is a key development for the digital home,” said Curt Nichols, vice president, Intel Capital and managing director Digital Home Sector. “Expanding online education opportunities is important to today's students as well as future generations and Tutor.com has an established track record in this market segment.”
“This investment will help Tutor.com build upon our successful institutional business to execute an aggressive marketing campaign and establish strategic partnerships to grow our subscriber base,” said George Cigale, founder and CEO of Tutor.com. “There is an untapped market of millions of families with school age children who will benefit from on demand access to the largest professional tutor network available.”
Tutor.com is reinventing tutoring by offering students an immediate connection to a professional tutor the moment they need help. Instead of simply bringing the traditional one-day-a-week tutoring model to the web, Tutor.com is empowering students to take control of the learning process by giving them instant access to a network of over 1,300 screened, certified and background-checked tutors who are on call to help seven days a week. Without needing to schedule an appointment, approximately 80,000 students each month connect within minutes to the right tutor for their question. Tutor.com on demand services are available in math, science, social studies and English for 4th – 12th graders.
As part of the funding, Ms. Kylie A.D. Sachs, principal of Ascend Venture Group will join Tutor.com's distinguished Board of Directors. Ms. Sita Vasan, senior investment manager of Intel Capital will participate as a Board Observer. Tutor.com is conducting a search for a seasoned consumer marketing expert to round out its Board of Directors.
Tutor.com creates innovative, on demand homework help and tutoring services that connect students to a professional tutor online the moment they need help in math, science, social studies or English. Our network of over 1,300 professional tutors has delivered over 2 million one-to-one tutoring sessions. Tutor.com services include Tutor.com Direct, an on demand tutoring service for families and Live Homework Help, an after-school program offered at over 1,600 public libraries. Tutor.com also powers two statewide, governor-supported initiatives, HomeworkKansas and HomeworkAlabama.
For more information, please visit www.tutor.com