# Prodigy Education

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/prodigy-education

- Industry: Software
- Headquarters: Oakville, Canada
- Website: www.prodigygame.com
- Total disclosed funding: $125M
- Latest round: Series B (Jan 12, 2021)
- Investors on record: 3

## About

Prodigy Education Inc. develops interactive, standards-aligned educational tools for children, focusing on enhancing skills in Math and English through engaging, gamified learning experiences.Founded in 2011 in Oakville, Canada, Prodigy Education Inc. creates educational games that help children learn math and literacy. The company was co-founded by Alexander Peters and Rohan Mahimker, and has received a total of CAD 159.00 mn in funding across three funding rounds. The most recent Series B funding round, led by TPG and participated by Canadian Business Growth Fund, occurred on January 12, 2021.Prodigy Education offers engaging, standards-aligned educational tools specifically designed for children, focusing on enhancing their skills in Math and English. The core product, Prodigy Math, utilizes adaptive learning games that immerse students in a fantasy world where they complete quests and battles that incorporate math-related challenges. Prodigy English extends this model to literacy, aligning with Common Core standards and providing users with a similar interactive experience. Targeted primarily at K-8 students, the platform caters to educators and parents who seek to bolster academic performance in a fun and engaging manner. The products are utilized in a variety of geographical markets including the United States, Canada, and various regions that follow educational standards similar to the Common Core framework, ensuring a broad reach to diverse student populations.Prodigy Education generates revenue through optional parent memberships that enhance the core offerings of its educational games. This subscription-based model allows for additional features and content, while maintaining free access for educators. The business operates primarily on a B2C (business-to-consumer) model, where parents invest in their children's learning journeys via these memberships. This structure supports the platform’s continued free usage for teachers, enhancing its appeal in the education sector. Revenue generation is directly tied to the engagement levels of the end users—students—who benefit from the gamified approach to learning, thereby creating a cycle of increased usage and subscription renewals among parents.In January 2021, Prodigy Education Inc. raised CAD 159.00 mn in Series B funding led by TPG, with participation from Canadian Business Growth Fund. The company plans to utilize these funds to expand its product offerings and enhance its platform. Future initiatives include new product releases aimed at improving educational outcomes and exploring opportunities in international markets. Specific geographic regions targeted for expansion include Europe and Asia, with plans to initiate this growth strategy by 2023.

## Funding rounds

- Series B, Jan 12, 2021, $125M — TPG, Canadian Business Growth Fund
- Seed, Aug 6, 2014 — Ontario Centre of Innovation

## Investors

- Ontario Centre of Innovation (https://capitalatlas.ai/funds/ontario-centre-of-innovation) — Seed
- TPG (https://capitalatlas.ai/funds/tpg) — Series B
- Canadian Business Growth Fund (https://capitalatlas.ai/funds/canadian-business-growth-fund) — Series B