About Formative
Formative is a company based in Santa Monica (United States) founded in 2013 by Craig Jones, Daniel Cornell, and Kevin McFarland was acquired by Newsela in June 2023. Formative has raised $70 million across 3 funding rounds from investors including Newsela, Summit Partners and Emerson Collective. Formative operates in a competitive market with competitors including Renaissance, MasteryConnect, TagHive, Turnitin and Xello, among others.
- Headquarter Santa Monica, United States
- Founders Craig Jones, Daniel Cornell, Kevin McFarland
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Sectors
Education
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Funding Insights of Formative
Formative has successfully raised a total of $70M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $70 million completed in June 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Formative
Formative has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Newsela, Summit Partners and Emerson Collective.
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Summit Partners is recognized as a growth equity investment firm.
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Seed-stage tech-focused VC firm investing primarily in the US
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A seed-stage venture capital firm
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Investor details for Formative
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Investments & Acquisitions by Formative
Investment portfolio details for Formative
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Financial Statements - Formative
Detailed financials for Formative
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Formative Comparisons
Peer comparison for Formative
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Competitors of Formative
Formative operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Renaissance, MasteryConnect, TagHive, Turnitin and Xello, among others.
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Cloud-based K-12 assessments in reading, math, and writing are delivered.
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Assessment and data solutions are developed for K-12 education.
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AI-powered quiz application for educational engagement is provided.
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Plagiarism detection and assessment platforms are provided for educators.
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Provider of an online platform for developing technical and soft skills in students
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Assessment-assistance solutions are provided to educators via online tools.
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Detailed competitors of Formative
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Latest news on Formative
Complete news archive for Formative
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Frequently Asked Questions about Formative
Formative was founded in 2013.
Formative is headquartered in Santa Monica, United States. It is registered at Santa Monica, California, United States.
Craig Jones is the current CEO of Formative. They have also founded this company.
Formative is a funded company, having raised a total of $70M across 3 funding rounds to date.
Formative was founded in 2013 in Santa Monica, United States, as an online platform in the education technology sector. Assessments are created, edited, previewed, and assigned by teachers, with actionable data generated to support teaching and learning. Collaboration is facilitated among educators for sharing assessments, real-time edits, and roster synchronization. Operations focus on enhancing instructional efficiency for K-12 environments.
Formative's top competitors include Renaissance, Learnosity and MasteryConnect.
Formative has 7 investors. Key investors include Newsela, Summit Partners, Emerson Collective, Fika Ventures, and MaC Venture Capital.