SAN FRANCISCO – Ignite! Reading, a rapidly growing provider of virtual tutoring services that enable K-12 schools to dramatically accelerate student reading progress, closed a $10 Million Series A round of financing, led by Rethink Education. Citadel Founder and CEO Ken Griffin and founding or current partners from Comcast Ventures, Draper Richards Kaplan Foundation, Hellman & Friedman and Wing Venture Capital also participated in the financing as individual investors. The funding will be used to add more world-class professionals to Ignite’s leadership team, invest in its technology platform, and enable the company to scale its program to meet accelerating demand from schools and districts nationwide.
Ignite is helping K-12 schools reverse pandemic-related learning losses by providing struggling readers with 15 minutes a day of one-on-one virtual instruction by tutors trained in the Science of Reading. Ignite’s easy-to-implement program teaches foundational reading skills, and students recorded an average of 2.4 weeks of reading progress for every week in the program during the 2021-2022 school year. The company is now teaching students to read in over 35 schools across seven states with no achievement gap for students of color, students with IEPs, multilingual learners or students receiving free or reduced-price lunches.
“With students learning to read at twice the rate that would be expected in a traditional classroom setting, Ignite! Reading’s one-on-one, high-dosage tutoring model is not just transforming how kids are taught to read, but how literacy instruction is being operationalized in schools. Teachers love the academic results Ignite is delivering and are equally excited by the significant positive impact on students’ social emotional learning,” said Jessica Reid Sliwerski, Co-Founder and CEO of Ignite! Reading.…Read More