Gunderson Dettmer client Newsela raises $50M

Newsela, a developer of an e-learning platform featuring student-tailored news and instructional content, has raised $50 million in Series C funding. The round was led by Technology Crossover Ventures.

In a blog post announcing the financing, Newsela CEO Matthew Gross said, “The funding we’ve just secured will allow us to deliver even more engaging content and invest in features that allow you to fully leverage its potential. We will also rapidly expand specialized offerings that allow districts to customize content experiences for their schools, aligned to their unique curriculum needs.”

The Gunderson Dettmer deal team was led by Brian Patterson and included IP partner David Sharrow and associates Jake Ornstein, Valdemar Washington, Vikki Nguyen and Laura Chao.