Scope of this Whitepaper
This analysis includes investments made to three legacy learning technology products and seven advanced learning technology product types. The three legacy products include self-paced courseware (eLearning), reference-ware (digital audio, video, and eTextbooks), and collaboration-based products (live online classes and live tutoring). Metaari discontinued commercial forecast analyses for these legacy products in late 2016, but still tracks the funding going to the companies that sell these products.
The global five-year compound annual growth rates (CAGRs) for two of these products (eLearning and reference-based products) are now quite negative (particularly in the US) and while the investments are still relatively high, the growth rates and the investments being poured into advanced learning technology are far outpacing the activity surrounding the legacy products.
The investment totals in this whitepaper include crowdsourced, seed, early stage, expansion stage (growth capital), later stage, angel, venture capital, private equity, accelerator/incubator cash awards, debt financing, and initial coin offerings (ICO).
The funding totals in this whitepaper do not include government grants (such as SBIR grants), government-funded accelerators (like Start-Up Brasil), or corporate foundation grants. This whitepaper does not include investments made by non-profit educational institutions unless the investments are made to commercial spinoffs.
This analysis does not include leveraged buyouts or acquisitions made by investment firms. Once an investment firm takes a majority stake in a company, Metaari defines that as an acquisition, not an investment.
The whitepaper only covers digital learning technology companies that sell digital products directly related to knowledge transfer (instruction) and behavior modification and does not deal with investments made to print-based, brick-and-mortar, classroom equipment companies, or non-instructional software (such as fintech, HR systems, student retention and engagement systems, academic messaging platforms, or student information systems). Metaari does not define these peripheral academic products as learning technologies.