GlobalScholar raises $27 million growth fund

US-based GlobalScholar.com, a provider of innovative technology in the education market, has secured $27 million from Knowledge Universe Education, a leading global education company; Ignition Partners, a premier venture capital firm; and Peter Neupert, an existing board member. GlobalScholar.com has also acquired Excelsior Software, a leading provider of assessment management solutions for K-12 education.

According to GlobalScholar.com, the new funding and acquisition of Excelsior Software will enable the company to greatly expand its reach in the education market and accelerate its US and international growth.

“We are passionate about using technology to enhance the education experience for students and teachers everywhere,” Kal Raman, CEO, GlobalScholar.com, has said. “The additional funding, the wealth of education experience the Excelsior Software team brings and the integration of our products, will allow us to provide the tools students, parents and educators need to confidently improve student outcomes.”

GlobalScholar.com currently offers three education-related services. The GlobalScholar platform enables educators to create, manage and align content, assessments, curriculum, standards and supplemental learning to drive educational performance. An online tutoring website helps parents and students safely connect with trusted educators who provide one-to-one tutoring, instant homework help and self-paced learning. The third is a set of search websites, CollegeFinder and SchoolFinder which are being developed to help students and parents learn about, compare and make informed decisions about colleges and schools to attend.

GlobalScholar has 100 people working in Chennai (Knowledge Universe Education Digital). The company is now planning to grow the team to 1,000 people in the next three years. GlobalScholar.com is also planning to provide its services for free to poor people in Tamil Nadu and later to people in other parts of India.

Kal Raman, CEO of GlobalScholar.com, graduated from Anna University in 1989. Raman, who comes from Tirunelveli in Tamil Nadu, sponsors orphanages near his village for their education and boarding.