After a tough year of toggling between remote and in-person schooling, many students, teachers and their families feel burned out from pandemic learning. But companies that market digital learning tools to schools are enjoying a coronavirus windfall.
Venture and equity financing for education technology start-ups has more than doubled, surging to $12.58 billion worldwide last year from $4.81 billion in 2019, according to a report from CB Insights, a firm that tracks start-ups and venture capital.
During the same period, the number of laptops and tablets shipped to primary and secondary schools in the United States nearly doubled to 26.7 million, from 14 million, according to data from Futuresource Consulting, a market research company in Britain.
“We’ve seen a real explosion in demand,” said Michael Boreham, a senior market analyst at Futuresource. “It’s been a massive, massive sea change out of necessity.”
But as more districts reopen for in-person instruction,