Varsity Tutors, a Clayton-based company that pairs tutors with students, announced it has closed on a $50 million round of venture capital.
Founded in a Washington University entrepreneurship course in 2007, Varsity Tutors today has a network of 15,000 tutors nationwide. The company says its tutors have worked with 50,000 students.
Varsity Tutors said its new funding will help with the development of technology and enable the company to increase its live tutoring and video-based learning offerings.
New investors in the round include Technology Crossover Ventures, musician Adam Levine and Stuart Udell, president of Catapult Learning, the company said.