Formative

Founded in 2013 by Craig Jones and Kevin McFarland, Formative is a teaching and assessment solution. The platform allows teachers to give students live assignments and real-time feedback, track their progress against learning standards, and collaborate around common assessment data. The company’s mission is to accelerate the student-teacher feedback loop and provide visualizations of student comprehension and achievement. By allowing educators to identify and address any learning deficiencies early, the company aims to improve student outcomes and educator effectiveness. As of June 2021, the platform is used globally and in most US school districts (at least one teacher in 92% of all US school districts has signed up). During the past year, more than 4 million students used the platform, and the company reported annual recurring revenue growth of about 700%.

In June 2021, the company raised USD 70 million in Series A funding for product development, building more analytical tools for teachers, administrators, parents, and students, and expanding internationally. The company also plans to double its headcount in 2021.