According to published reports, Newsela has raised $1.2 million seed round led by NewSchools Venture Fund, with participation from Kapor Capital, Kaplan Ventures and Silicon Badia. Angels include Joannie Fischer & David Fischer, Brigette Lau (Partner at Social+Capital), Zac Zeitlin, Jennifer Coogan & Issac Taylor, and Walter Winshall.

Newsela is an education technology startup dedicated to transforming the way learners access the world through words. The founding team members combine powerful technological know-how with real-world experience earned in the classroom, the newsroom, and the boardroom.

Launched in June 2013, Newsela publishes high-interest news articles daily at five levels of complexity for grades 3-12 using Newsela's proprietary, rapid text-leveling process.