Newsela, a SaaS platform for K-12 instructional material backed by the likes of TCV, Kleiner Perkins, Reach Capital and Owl Ventures, announced today that it has raised $100 million in a Series D round. The financing was led by new investor Franklin Templeton, and brings Newsela’s valuation to $1 billion. The new round is larger than the aggregate of Newsela’s prior capital raised to date.
“Hitting $1 billion [in valuation] doesn’t change a thing,” Newsela CEO Matthew Gross told TechCrunch. But the startup is joining Quizlet, ApplyBoard and CourseHero as companies within the sector that have hit the unicorn mark …
