The round was led by new investor Franklin Templeton and existing investor TCV, with participation by Owl Ventures, Tao Capital Partners, Chan Zuckerberg Initiative, and Waycross Ventures.

Newsela takes authentic, real world content from trusted sources and makes it instruction ready for K-12 classrooms. Each text is published at five reading levels, so content is accessible to every learner. Today, over 2.5 million teachers and 37 million students have registered with Newsela for content that's personalized to student interests, accessible to everyone, aligned to instructional standards, and attached to activities and reporting that hold teachers accountable for instruction and students accountable for their work. With over 14,000 texts in our platform and 10 new texts published every day across 20+ genres, Newsela enables educators to go deep on any subject they choose.