Extra Crunch Friday: 13 investors say lifelong learning is taking edtech mainstream

Extra Crunch Newsletter

Friday, January 29, 2021 • By Walter Thompson

Welcome to Extra Crunch Friday Image Credits: Bryce Durbin Edtech is so widespread, we’ll soon have to find a new word for it that’s more consumer-friendly. I know someone who reads stories to their grandchildren on two continents via Zoom each weekend. Is that “edtech?” Similarly, many Netflix subscribers sought out online chess instructors after watching “The Queen’s Gambit,” but I doubt if they all ran searches for “remote learning” first. Edtech needs to reach beyond underfunded public school systems to become more sustainable, which is why more investors and founders are focusing on lifelong learning. Besides serving traditional students with field trips and art classes, a maturing sector is now branching out to offer software tutors, cooking classes and singing lessons. For our latest investor survey, Natasha Mascarenhas polled 13 edtech VCs to learn more about how “employer-led up-skilling and a renewed interest in self-improvement” is expanding the sector’s TAM. Here’s who she spoke to: Deborah Quazzo, managing partner, GSV Ventures (an education fund backing ClassDojo, Degreed, Clever) Ashley Bittner, founding partner of Firework Ventures (a future of work fund with portfolio companies LearnIn and TransfrVR) Jomayra Herrera, principal, Cowboy Ventures (a generalist fund with portfolio companies Hone and Guild Education) John Danner, managing partner, Dunce Capital (an edtech and future of work fund with portfolio companies Lambda School and Outschool) Mercedes Bent and Bradley Twohig, partners, Lightspeed Venture Partners (a multi-stage generalist fund with investments including Forage, Clever, and Outschool) Ian Chiu, managing director, Owl Ventures (a large edtech-focused fund backing highly-valued companies including Byju's, Newsela, and Masterclass) Jan Lynn-Matern, founder and partner, Emerge Education (a leading edtech seed fund in Europe with portfolio companies like Aula, Unibuddy, and BibliU) Benoit Wirz, partner, Brighteye Ventures (an active edtech-focused venture capital fund in Europe that backs YouSchool, Lightneer, and Aula) Charles Birnbaum, partner, Bessemer Venture Partners (a generalist fund with portfolio companies including Guild Education and Brightwheel) Daniel Pianko, co-founder and managing director, University Ventures (a higher ed and future of work fund that is backing Imbellus and Admithub) Rebecca Kaden, managing partner, Union Square Ventures (a generalist fund with portfolio companies including TopHat, Quizlet, Duolingo) Andreata Muforo, partner, TLCom Capital (a generalist fund backing uLesson) Thanks very much for reading Extra Crunch this week; I hope you have a great weekend. Walter Thompson Senior Editor, TechCrunch @yourprotagonist Read more

Rising African venture investment powers fintech, cleantech bets in 2020 Image Credits: Nigel Sussman After falling into yesterday’s wild news cycle, Alex Wilhelm returned to The Exchange today with a close look at venture capital activity across Africa in 2020. “Comparing aggregate 2020 figures to 2019 results, it appears that last year was a somewhat robust year for African startups, albeit one with fewer large rounds,” he found. For more context, he interviewed Dario Giuliani, the director of research firm Briter Bridges, which focuses on emerging markets in Africa, Asia and Latin America. Read more

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Talent and capital are shifting cybersecurity investors' focus away from Silicon Valley Image Credits: MCCAIG / Getty Images New cybersecurity ecosystems are popping up in different parts of the world. Some of of that growth has been fueled by an exodus from the Bay Area, but many early-stage security startups already have deep roots in East Coast cities like Boston and New York. In the United Kingdom and Europe, government innovation programs have helped entrepreneurs close higher numbers of Series A and B rounds. Investor interest and expertise is migrating out of Silicon Valley: this post will help you understand where it’s going. Read more

Will Apple's spectacular iPhone 12 sales figures boost the smartphone industry in 2021? Image Credits: NurPhoto / Getty Images Today’s smartphones are unfathomably feature-rich and durable, so it’s logical that sales have slowed. A phone purchased 18 months ago is probably “good enough” for many consumers, especially in times of economic uncertainty. Then again, of the record $111.4 billion in revenue Apple earned last quarter, $65.68 billion came from phone sales, largely driven by the release of the iPhone 12. Even though “Apple's success this quarter was kind of a perfect storm,” writes Hardware Editor Brian Heater, “it's safe to project a rebound for the industry at large in 2021.” Read more

The 5 biggest mistakes I made as a first-time startup founder Image Credits: Randy Faris / Getty Images Finmark co-founder and CEO Rami Essaid wrote a post for Extra Crunch that candidly describes the traps he laid for himself that made him a less effective entrepreneur. As someone who’s worked closely with founders at several startups, each of the points he raised resonated deeply with me. In my experience, many founders have a hard time delegating, which can quickly create cultural and operational problems. Rami’s experience bears this out: “I became a human GPS: People could follow my directions, but they struggled to find the way themselves. Independent thinking suffered.” Read more

Dear Sophie: How can I sponsor my mom and stepdad for green cards? Image Credits: Bryce Durbin/TechCrunch Dear Sophie: I just got my U.S. citizenship! My husband and I want to bring my mom and her husband to the U.S. to help us take care of our preschooler and toddler. My biological dad passed away several years ago when I was an adult and my mom has since remarried. Can they get green cards? — Appreciative in Aptos Read more

Check out the amazing speakers joining us on Extra Crunch Live in February Next month, Extra Crunch Live returns with a lineup of guests who are extremely well-qualified to discuss early-stage startups. Each Wednesday at noon Pacific/3 p.m. EST, join a conversation with founders and the investors who backed their companies: February 3: Gaurav Gupta (Lightspeed Venture Partners) + Raj Dutt (Grafana Labs) February 10: Aydin Senkut (Felicis Ventures) + Kevin Busque (Guideline) February 17: Steve Loughlin (Accel) + Jason Boehmig (Ironclad) February 24: Matt Harris (Bain Capital) + Isaac Oates (Justworks) Also, we’re adding a new feature to Extra Crunch Live — our guests will offer advice and feedback on pitch decks submitted by Extra Crunch members in the audience! Read more

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