Case Study

How A Leading Edtech Saas Company Ditched Spreadsheets To Track Revenue With Unprecedented Efficiency

Source: SaaSOptics
AGILE IRT: Improving Quality and Efficiency in the Study Build  Process

With over 12 million users, one million educators, 1,000 districts, and 60,000 schools across 130+ countries, Schoology is a Learning Management System (LMS) industry leader who provides a SaaS-based learning platform to connect students, teachers, content, and systems. Beyond K-12 programs around the world, Schoology is used by many higher education institutions such as LASPAU (A Harvard University Affiliate), CSU Global Campus, the Boston Theological Institute, and Universidad Metropolitana de Monterrey.

According to Amar Shrivastava, VP of Finance and Administration, “The company evolved from an idea for a school project, developed by the four founders. The project then turned into a company, starting in 2009. Six years later, our leadership team has raised almost $60M—first with seed capital, then a $7M series B, a $15M series C, and a $32M series D—from the likes of FirstMark Capital, Intel Capital, Great Road Holdings, Great Oaks Venture Capital, and JMI Equity. This doesn’t happen unless a SaaS product successfully achieves milestone after milestone.“ Shrivastava has spent his career leading finance and administration for early-stage software companies and came on board with Schoology in 2012, when they had 350,000 users. As employee 17, he joined at the market-fit milestone, and the founders chose him to build the financial foundation for growth.