Labster Secures $60M in Funding for Expansion
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Labster, a producer of virtual laboratory simulations, raised $60 million in Series C funding. The round was led by new investor Andreessen Horowitz, joined by existing investors GGV Capital, Owl Ventures, Balderton Capital, David Helgason, founder of Unity Technologies, Northzone, Swisscom Ventures, and EduCapital. The round brings Labster's total capital raised to $100 million.
Named one of Newsweek's 50 U.S. Businesses That Stood Out During the Pandemic, Labster's core team of 200 employees supports over 2,000 universities and high-schools, tens of thousands of courses, and millions of students. The latest round of capital will enable Labster to focus on growing the size of its global team to serve students around the world.
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Labster has put together a roadmap for expansion and is now hiring across all major teams such as engineering, product, sales and customer success. The company will establish operations in South America this spring in the next stage of its plan to serve educators and students around the world with virtual lab simulations for hybrid, remote, and in-person learning modalities.
"One of the biggest questions we asked ourselves throughout 2020 was how we could help improve learning outcomes and dramatically increase the motivation of the many students forced to learn from home," said Michael Bodekaer Jensen, Founder & CEO of Labster. "This round of funding will allow us to accelerate our global expansion and development of new science courses so we can help millions more students."
Labster is exploring additional ways to extend its virtual lab platform to students of all backgrounds, including those who may not have laptops or broadband Internet service. In the future, some students may use mobile devices to access Labster's high-quality virtual lab simulations.
Labster's focus continues to be on supporting instructors as they empower their students to become the next generation of scientists to change the world. Labster simulations are a complementary learning tool for in-person university and high school education and have also been an essential resource to many hybrid and online courses.
