Formative Receives $70M Minority Growth Investment
- Formative, a Los Angeles, CA-based SaaS real-time student data platform provider, raised $70m in minority funding
- The round was led by global growth investor Summit Partners, with participation from existing investors
- The company intends to use the funds to accelerate product enhancement efforts, increase teacher and administrator support and expand its international reach
- The company is a web-based student response platform that allows teachers to give live assignments to students
- Teachers use Formative to see student work in real-time, give feedback, track student progress to learning standards and collaborate around common assessment data
- Today, the platform is used by educators and administrators globally and has a presence in the majority of U.S. school districts
