Milwaukee-based startup Fiveable raised $10 million in a Series A funding round that will support launching virtual spaces and providing new academic content for its online community of high school students.
Fiveable has carved out a large presence in the edtech space with its platform that connects students and teachers for virtual after-school help sessions via live streaming. Since 2018, the startup has provided more than 7 million high school students with Advancement Placement (AP) test prep and support.
With this round of funding, Fiveable aims to go beyond the AP students it supports by providing content and services to the more than 18 million high school students in the country. By expanding its content libraries, Fiveble’s platform will bring its resources, peer support and collaborative tools to all academics, including college career exploration, vocational training, finance, mental health and more, according to the company.
“We’re not here to implement traditional learning models,” Fiveable co-founder and chief experience officer Tán Ho said in a statement. “We’re here to build community-driven support systems that empower young people to see themselves not only as students but also as forces of change and inspiration.”
Fiveable is also launching student-led online spaces such as community-powered content libraries and interactive study rooms. The company recently acquired San Francisco-based Hours, which developed a platform that enables students to engage one another through virtual study sessions that include text and live video sessions.
Fiveable has raised more than $14 million to date. The latest round of funding was led by Union Square Ventures with participation from Owl Ventures and Progression Fund, according to the company.
"Building community is one of the most powerful drivers of student engagement," Owl Ventures principal Ross Darwin said in a statement. “Fiveable's social learning platform is helping students who may be thousands of miles away from each other to build bonds around shared interests, leading to more active and vibrant learning."