In this article we discuss the top 15 largest EdTech companies in the world. You can skip our discussion of the EdTech industry outlook and go directly to the 5 Largest EdTech Companies in the World.
EdTech is the combined use of technology and educational theories to facilitate student learning. The EdTech industry is a diverse and rapidly growing market which includes early-stage startups, middle-market companies to publicly traded companies. It is getting significant attention from industry veterans as well as generalist investors. According to EdSurge, in 2019, $1.7 billion was invested by venture capital funds into the industry across 105 deals. Technology has revolutionized education from online courses to virtual classrooms. The rapidly emerging sector is introducing new ways of educating anyone who wants to learn. Around the world, countries are committing to enhance the learning abilities of students by incorporating technological initiatives into schools, colleges, and universities. This has enabled educational institutes to incorporate technologies like artificial intelligence, augmented/virtual reality, and robotics to change the conventional methods of teaching. The EdTech industry offers various benefits like increased collaboration amongst students, 24/7 access to learning, personalized educational experiences, automated grading systems, classroom management tools and creating paperless classrooms. The global education technology market size is expected to surpass $285.2 billion by 2027 growing at a rate of 18.1% according to Grand View Research.
The Explosive Growth Potential of the EdTech Market
By 2018, American EdTech companies alone raised $1.45 billion in investment. Furthermore, investments in the Chinese EdTech industry make up 44.1% of the $16.34 billion invested globally during 2018. The growth in the Chinese EdTech market has been exponential where the number of online education users crossed 423 million in March 2020.
As the EdTech market continued to innovate and create new educational platforms, more startups joined the market by offering personalized products which resonate with the end-users personally. The already growing demand for online education was further propelled by the COVID-19 pandemic as schools and colleges were closed around the world.
By January 2020, there were a handful of EdTech companies which were valued at over a billion dollars. The EdTech industry in U.S. raised over $2.2 billion in funding across 130 deals, according to the EdSurge funding database. It is also estimated that by 2025, investment in the EdTech sector will rise to $8 trillion globally.
Here is a list of the 15 largest Edtech Companies in the world.
15. Boxlight Corporation (NASDAQ: BOXL)
Revenue: $54 million in 2020 via Yahoo Finance
Valuation: $180.78 million
Boxlight Corporation is a Georgia-based EdTech company that develops and sells interactive classroom solutions for the global education market. It designs, manufactures, and distributes interactive technologies such as projectors, flat panels, peripherals, and other accessories that aid the learning process of students. It also produces science, engineering, and math products such as coding systems, robotics, 3D printers, and portable science labs. The company’s products can be integrated into classroom software suites that provide tools for classroom learning, assessments, and collaboration. It also offers professional development and training resources to educators including customized programs, online certifications and in-person courses. Boxlight’s products are sold in over 60 countries and its software are available in 33 languages.
14. Course Hero
Revenue: $100 million via techcrunch
Valuation: $1.1 billion
Course Hero is an EdTech website company which is based in Redwood City, California. It has created an online learning platform for students and provides course-specific study resources which have been contributed by a community of students and instructors. This unique learning platform is crowdsourced and contains study guides, practice problems, class notes, essays, videos, lap repots and original materials that are uploaded by teachers. Users can buy a subscription to get access or unlock its contents by uploading original documents on the website. Course Hero has over one million subscribers who pay from $10 to $40 per month. According to TechCrunch, in…
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