Pangaea provides growth capital to leading adaptive learning platform
SYDNEY, December 6, 2016 – Pangaea Impact Investments (‘Pangaea’) announced today that it has made an investment in Maths Pathway; a leading adaptive learning platform that is revolutionising the delivery of maths education in Australia and abroad.
Founded in 2012 by Justin Matthys and Richard Wilson, Maths Pathway provides a learning platform that transforms maths education from a traditional ‘one-size-fits-all’ approach to a fully differentiated model. Maths Pathway tailors the content, assessment and support to the specific abilities of individual students. More than just a technology and content solution, Maths Pathway actively supports teachers and schools to realise the benefits of adaptive learning.
Today, 13,000 students in 100+ schools use Maths Pathways’ adaptive learning platform. While the majority of schools are in Australia, the company has experienced strong interest from the UK, USA and South Africa. Schools adopting Maths Pathway are seeing significant increases in learner performance and achievement. On average, Maths Pathway schools achieve a doubling of their rate of learner growth.
Pangaea is a specialist investment company that focuses on direct investments in companies that deliver positive social impact. The founders, Karen and Anthony Bohm, have significant experience and expertise in online education, having been founding investors and executives in Think: Education Group and Open Colleges Australia.
Richard Wilson, CEO and Co-Founder of Maths Pathway said: “We are delighted to have closed our Series A round. This will provide Maths Pathway with the capital to grow the business and our impact. It is great to have Pangaea as part of our team. They bring a depth of experience in education and a commitment to driving positive social impact.”
Karen Bohm, Founding Partner of Pangaea said: “Maths Pathway have the four characteristics we look for in a great investment: talented and passionate people; a scalable business model; a high growth market; and a commitment to creating meaningful and lasting social change. We share Justin and Richard’s passion for improving teaching and learning in mathematics and the important role that this will play in the future competitiveness of the Australian economy. We look forward to supporting the Maths Pathway team to realise their exciting vision for the business.”
Pangaea was the lead investor in the Series A round, which closed in early December and included existing and other new investors. Following the investment, Anthony Bohm has joined the Board of Directors. The terms of the investment are confidential.
Pangaea believes that to tackle many of the significant challenges facing society and achieve real social transformation, we need to harness the power of markets, entrepreneurship and private capital. Pangaea invests in businesses that seek to find innovative solutions to: increasing language, literacy and numeracy; improving accessibility to education and training; accelerating employment, particularly in disadvantaged groups; and reducing poor health and disease. In September 2016, Pangaea invested in Pollinate Energy.
Maths Pathway is seeking to address a fundamental challenge in our education system. By Year 9, the average spread of learning in an Australian classroom is 7 years – that is, there may be students at Year 4 level and Year 11 level sitting in the same Year 9 classroom. It is almost impossible to deal with this variation through traditional models of teaching. Put simply, our education system currently groups students by age rather than ability.
Maths Pathway has developed an adaptive learning platform that delivers the right content and assessment to students, in the right sequence and at the right time. However, Maths Pathway is more than just a technology solution, it provides a holistic approach to creating meaningful and lasting change within teachers and schools.
Maths Pathway has developed a learning solution with three components:
A learning system that can target the entire range of student ability;
High quality instruction for each individual student within that system; and
A scalable, turnkey solution upon which schools base their maths course.
Importantly, Maths Pathway requires a new approach to teaching. To achieve this, Maths Pathway focuses on building the skills and capabilities of teachers to operate effectively in a technology-enabled adaptive learning environment as well as the culture within the schools that is essential for an adaptive learning approach to flourish.
Schools pay Maths Pathway a fee per student, roughly equivalent to the cost of a textbook, to access their proprietary adaptive learning platform and learning model.