Peergrade’s New Funding Round 🚀

We are excited to announce that Peergrade has raised more than $1.5 million in new capital. The money comes from a range of investors, including Y Combinator, byFounders, Project A, Nordic Makers, Learn Capital, Futuristic.VC and angel investors from around the world.

We started working on Peergrade in 2015 to solve a problem we faced ourselves. The class that I was teaching at The Technical University of Denmark was growing in size, going from 20 to 150 students in just a single year. With 150 students it becomes almost impossible to give any meaningful feedback to students and the standard proposed alternative is to just scrap the homework and use a multiple-choice exam instead.

By letting students partake in the process of assessing and giving feedback, it becomes possible for every student to receive personal and useful feedback. At the same time the review process enforces learning by letting students read, understand and reflect about the work of their classmates. This not only teaches subject matter, but also communication, argumentation, critical thinking and how to give and receive feedback. These are the skills that are going to be the main differentiator in the job market of the future.

Today teachers and students in more than 100 countries use Peergrade. There are users of all ages, ranging from 4th grade creative arts, over PhD-level computer science students to corporate learning in large governmental institutions. We have seen incredible growth the last years and we look forward to welcoming many new users in the years to come.

Whether to raise capital or not, and from who is not an easy decision to make. Throughout the fundraising process it has been important for us to find investors that bring more than just money to the table. We have been looking for investors that understand and agree with our long term vision of how education can be improved. That is why we are proud to have many experienced investors on board who have worked with many of the most succesful educational technology companies.

In the end, Peergrade the company is synonymous with our product. We will continue to invest heavily in making Peergrade better, faster, simpler and more effective for both teachers and students.

We are always looking for great talent, so if you would like to be a part of making learning and feedback better, reach us at: david@peergrade.io