Leading Scottish online educational technology firm CogBooks is set to expand after securing £1.75 million in new investment.
DC Thomson Ventures the venture capital arm of major Dundee media group and The Courier publisher DC Thomson & Co Ltd joined with Nesta Impact investments and the Scottish Investment Bank in participating in the funding round.
CogBooks has developed an advanced e-learning platform which adapts to the needs of each user in order to improve their learning outcomes and overall knowledge retention.
The system has been widely picked up by publishers and corporate trainers, and is also a recognised learning tool within the US and UK tertiary education sectors.
The firm first began offering web-based learning services in 2005 and has since been involved in a range of high-profile online education projects supported by the Bill and Melinda Gates Foundation, Ufi Charitable Trust and others.
CogBooks CEO Jim Thompson said the new investment would allow the company to expand its horizons.
“Throughout the world we face the problem of how to make the highest quality education available to everyone,” said Mr Thompson.
“We believe that a new generation of learning technologies, of which CogBooks is an example, can help to solve this problem.
“We are working with our partners to bring these new technologies to teachers and help them to transform the way that learning is achieved.
“Our work with the Gates Foundation, Ufi Charitable Trust, the OCR, Edinburgh University and other leading schools and colleges will allow hundreds of thousands of students to benefit from advanced personalised online learning, delivered using the CogBooks adaptive platform.
“This new investment will allow us to continue to expand our company and provide improved learning experiences for more and more students.”
DC Thomson head of strategy and development Ben Gray said: “DC Thomson Ventures is looking forward to working with CogBooks as it builds on its position as a leading provider of adaptive learning solutions.
“We believe that true adaptive learning technologies have the potential to fundamentally change the way that education is delivered at all levels, creating positive outcomes for learners.”
Matt Mead of Nesta Impact Investments said online learning was changing the way people acquired knowledge.
“Educational technology has the potential to radically change education, especially in secondary schools where there are real opportunities to support learning in the classroom with online work.
“But that technology can’t be a ‘one size fits all’ solution.
“We invested in CogBooks because of their unique approach to personalised web-based learning, which sees them put the student at the heart of their technology.
“By really understanding how young people learn, and working with education providers to ensure content is relevant, CogBooks enables learners to get the most from their experience while also supporting teachers.”
Kerry Sharp, head of the Scottish Investment Bank, said: “Having supported CogBooks through seed investment we are pleased to further support them as they enter this exciting stage in their development.
“CogBooks has already been recognised as a leader in adaptive learning technology, and this new investment will help the company deliver its growth ambition and extend its international reach.”