BrightBytes has secured a USD33 million Series C financing led by New York-based private equity and venture capital firm Insight Venture Partners, with Bessemer Venture Partners, Rethink Education and Learn Capital also participating.
The capital will be used to expand BrightBytes' Clarity platform for K-12 leaders, continue globalisation of its customer base and develop engineering and customer success teams. As part of the transaction Nick Sinai, Venture Partner at Insight Venture Partners will join the BrightBytes board of directors.
Combining data analytics with sleek user-friendly design, BrightBytes' Clarity platform provides fast, informative answers for administrators managing a diverse range of challenges such as technology efficacy, dropout prevention, at-risk student identification, data privacy, digital safety and leadership effectiveness. BrightBytes gathers ideas from leading global experts and creates evidence-based frameworks combined with data from a school or region, giving K-12 leaders the tools they need to understand and quickly improve their students' learning outcomes. Approximately 1 in 5 schools in the United States use the Clarity platform.
"BrightBytes was founded with the mission to improve the way the world learns through the use of data," says Rob Mancabelli, CEO of BrightBytes. "Our partnership with Insight Venture Partners will allow us to continue our pursuit of that goal as we develop our team and widen the scope of our research and data analytics platform."
"We are pleased to join with BrightBytes as they continue their rapid growth," says Nick Sinai (pictured), Venture Partner at Insight Venture Partners. "We see a large global market using data analytics to improve education, and the BrightBytes team is building a category-defining company."
