Quizlet Valuation, Funding & Investors

Quizlet is valued at $1B as of May 2020.

Last Quizlet valuation

$1B

Series C · May 2020

Last Quizlet funding round

$30M

Series C · May 2020

Cumulative funding Quizlet raised

$62M

across 3 funding rounds

Key investors in Quizlet

  • Union Square Ventures
  • Altos Ventures
  • Costanoa Ventures
  • Industry Ventures
  • Owl Ventures
  • General Atlantic

Quizlet Overview

About Quizlet

Quizlet is a study platform featuring digital flashcards, practice tests, and games for subjects from elementary to graduate levels. San Francisco-headquartered and founded in 2007, it hosts over 500 million study sets created by its community. Available on web, iOS, and Android, it supports collaborative learning modes used by students in 130 countries.


Founded

2005

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2C

Revenue model

Subscription, Advertising

Valuation

$1B (May 2020)

Quizlet Valuation

Quizlet is currently valued at $1B, based on its Series C in May 2020.

The $30M round was led by General Atlantic.

Quizlet's valuation has grown 5.0x from $200M at its Series B in February 2018 to $1B in May 2020, across 2 priced rounds.

Quizlet valuation by funding round

Quizlet valuation by funding round
DateStageValuation
May 2020Series C$1B
Feb 2018Series B$200M

Quizlet Funding History

Quizlet has raised a total of $62M across 3 funding rounds.

Quizlet's first fundraising round was a $12M Series A in November 2015. The most recent completed round was a $30M Series C in May 2020.

Quizlet funding rounds

Quizlet funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2020Series CGeneral Atlantic (lead)$30M$1BQuizlet is a global learning platform providing AI-powered study tools and digital flashcards that enable students to create study sets, learn collaboratively, and access educational content across subjects including languages, science, arts, and mathematics. The platform uses data science and machine learning to curate and enhance personalized learning experiences for its user base. On May 13, 2020, Quizlet announced a $30 million Series C funding round led by General Atlantic, a leading growth equity firm specializing in education technology. The round valued the company at $1 billion, marking Quizlet's entry into the unicorn club and representing a five-fold increase from its previous 2018 funding round. The funding brings Quizlet's total known financing to more than $62 million. General Atlantic Managing Director Peter Munzig joined Quizlet's board of directors as part of the investment. The capital was designated to fuel continued product innovation with emphasis on data science and machine learning capabilities, as well as strategic expansion opportunities. CEO Matthew Glotzbach highlighted the company's mission to provide every person access to an AI-powered tutor to help them confidently study and learn anything, with the team focused on creating innovative tools to move users toward mastery more quickly and effectively. General Atlantic's investment reflected strong conviction around the digitization and personalization of education, positioning Quizlet as an emerging leader in the EdTech field alongside other portfolio companies like Duolingo, Byju's, and Ruangguru.
Feb 2018Series BIcon Ventures (lead); Industry Ventures; Union Square Ventures; Owl Ventures; Altos Ventures; Costanoa Ventures$20M$200MQuizlet is a San Francisco-based edtech company offering a freemium learning platform with virtual flash cards, machine learning-powered study tools like Quizlet Learn and Learning Assistant, customizable study sets with images and charts, and premium subscriptions such as Quizlet Plus ($19.99/year) and Quizlet Go ($1.99/year ad-free). In February 2018, Quizlet raised a $20 million Series B round led by Icon Ventures, with participation from Union Square Ventures, Costanoa Ventures, and others including Altos Ventures, Owl Ventures, and Industry Ventures, bringing total funding to about $32 million at the time. The post-money valuation was $200 million. Funds were allocated to international expansion in Western Europe and Asia, hiring, and enhancing machine learning capabilities based on billions of study session data points to personalize learning. At the time of the round, Quizlet had 30 million monthly users, with teachers and students using it for efficient study sessions. By October 2018, monthly active users grew to 50 million. The platform leverages cognitive science and AI to identify study weaknesses and improve retention. This 2018 round preceded Quizlet's May 2020 Series C of $30 million led by General Atlantic at a $1 billion valuation, quintupling the prior valuation in two years and bringing total funding to $62 million. Investors in the Series C included returning backers Costanoa Ventures, Icon Ventures, Owl Ventures, and Union Square Ventures. The later round focused on AI-powered tutor development, data science talent, potential acquisitions in machine learning, and team growth from nearly 200 to 300 employees.
Nov 2015Series ACostanoa Ventures (lead); Union Square Ventures (lead); Industry Ventures; Owl Ventures; Altos Ventures$12M-Quizlet raised $12 million in a funding round on November 23, 2015, from investors including Altos Ventures, Costanoa Ventures, Industry Ventures, Owl Ventures, and Union Square Ventures, with Costanoa Ventures and Union Square Ventures as leads. The company, founded in 2005 by Andrew Sutherland, had been bootstrapped and profitable since 2009, generating millions in yearly revenue from premium subscriptions starting at $15 per user per year for ad-free access and image uploads, and $25 per year for teacher accounts to track student progress. Funds were intended to expand the team from 32 to over 50 employees and accelerate product development to reach 1 billion learners. At the time, Quizlet reported 1 billion study sessions completed, 100 million study sets created, and 40 million monthly active users, positioning it among the 50 most visited websites in the US. Approximately 70 percent of users were K-12 and college students, 25 percent adult learners, and the rest teachers. The platform allowed free creation of study sets, differentiating it as the most popular flashcard study app despite numerous competitors.

Who has invested in Quizlet?

7 investors have backed Quizlet across its funding rounds, including Union Square Ventures, Altos Ventures, Costanoa Ventures, Industry Ventures, Owl Ventures and General Atlantic.

Lead investors include General Atlantic, Icon Ventures, Costanoa Ventures and Union Square Ventures.


Quizlet Investors

Investors in Quizlet by funding rounds participated
InvestorHQRoundsRoleFirst check
Industry VenturesUnited StatesSan Francisco, CA2ParticipantNov 2015
Union Square VenturesUnited StatesNew York City, NY2LeadNov 2015
Owl VenturesUnited StatesSan Francisco, CA2ParticipantNov 2015
Altos VenturesUnited StatesSan Francisco, CA2ParticipantNov 2015
Costanoa VenturesUnited StatesSan Francisco, CA2LeadNov 2015

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Quizlet

Quizlet has acquired 2 companies to date.

Last acquisition by Quizlet was on February 5th 2026. Quizlet acquired Coconote for undisclosed valuation.


Latest Acquisitions by Quizlet

Coconote
Slader
Description
Coconote develops AI-driven note-taking and study automation tools to enhance learning efficiency.
Slader functions as an online student network providing user-generated solutions for homework from over 90 percent of top high school textbooks. The platform serves millions of students across more than 200 countries through collaborative content sharing and study tools. Acquired by Quizlet in 2018, Slader continues to facilitate academic connections and problem-solving resources headquartered originally in Seattle.
HQ Country-United States
HQ City
-
New York City, NY
Deal Date5 Feb 202625 Mar 2021
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Quizlet Competitors

Quizlet competitors include listed companies like Coursera and Youdao, and private ones like Hujiang Education Technologies, Knowbox, Newsela and LEAD.

Public and private companies comparable to Quizlet
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Hujiang Education TechnologiesChinaShanghaiPrivate$80M-$1B12.5x
KnowboxChinaBeijingPrivate--$1B-
NewselaUnited StatesNew York City, NYPrivate--$1B-
LEADIndiaMumbaiPrivate--$1.1B-
CourseraUnited StatesUnited StatesPublicly listed$758M($49M)$1.4B0.3x
YoudaoChinaChinaPublicly listed$881M$29M$1.7B2.0x

Quizlet Public Comps

Quizlet is still privately-owned, but its public comps include American Public Education, Afya, Coursera, Docebo, Jiangsu Chuanzhiboke, Gaotu Techedu, Qibu, Youdao, MegaStudyEdu and I-Scream Media.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
American Public Education$649M$64M1.1x1.1x11.6x7.8x
Afya$719M$289M2.3x2.2x5.6x5.0x
Coursera$758M($49M)0.5x0.3x(7.7x)2.7x
Docebo$243M$26M2.6x2.4x24.8x12.3x
Jiangsu Chuanzhiboke$57M($7M)8.9x6.3x(67.8x)-
Gaotu Techedu$917M($38M)0.2x0.2x(4.3x)(33.7x)
Qibu$24M($16M)15.3x-(23.0x)-
Youdao$881M$29M2.1x2.0x63.1x33.8x

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Common questions about Quizlet

When was Quizlet founded?Quizlet was founded in 2005.
Where is Quizlet headquartered?Quizlet is headquartered in San Francisco, CA, United States.
Is Quizlet publicly listed?No, Quizlet is a private, VC-backed company.
What is Quizlet's valuation?Quizlet was last valued at $1B in its Series C in May 2020.
How much funding has Quizlet raised?Quizlet has raised $62M across 3 funding rounds.
What was Quizlet's last funding round?Quizlet's last funding round was a $30M Series C in May 2020, led by General Atlantic.
Who are Quizlet's investors?Quizlet's investors include Industry Ventures, Union Square Ventures, Owl Ventures, Altos Ventures, Costanoa Ventures, Icon Ventures and General Atlantic.
Which companies are comparable to Quizlet?Companies comparable to Quizlet include Hujiang Education Technologies, Knowbox, Newsela, LEAD, Coursera and Youdao.
How many companies has Quizlet acquired?Quizlet has acquired 2 companies, including Coconote and Slader.

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