Revolution Growth Invests in Echo360 to Accelerate the Transformation of Higher Education
Investment will Speed Rollout of Proven Echo360 Platform to Enable Universities and Colleges to Blend Online and Offline Learning
Washington, DC – May 24, 2012 - Echo360, the global leader in blended learning and lecture capture solutions, announced today a significant new investment from Revolution Growth to accelerate the deployment of their transformative technology platform in colleges and universities, with the aim of reaching 50 percent of all U.S. college students within five years. Echo360 is already in use at more than 500 leading institutions of higher education.
The core lecture capture product from Echo360 enables a blended learning platform that integrates face-to-face class time with online learning outside the classroom. Echo360 captures classroom video and audio, and converts them into digital modules ready for access anytime by students on their computers, tablets, and mobile devices. The easy-to-use solution allows instructors to record, edit, and share lectures and learning modules with students, who can watch and review them on their own time, at their own pace. Instructors can see what students are reviewing, and can revise future lectures or record supplemental updates.
“Technology has had a transformative impact on many facets of our lives – but the one major area where we have failed to leverage technology to its potential is in education,” said Revolution Growth Co-founder Steve Case. “Echo360 empowers universities and colleges to enhance and extend the classroom experience to bring a much needed revolution to higher-education. Blended learning is about marrying the best of online with the best of in-person teaching, and that is what Echo360 enables.”
The Echo360 solution enhances and extends the classroom in a way that is cost-efficient for administrators, easy-to-use by instructors, and helpful for students. Students enjoy flexibility to re-watch and search class lectures anytime, anywhere. Echo360 gives instructors the option to “flip” the classroom by recording lectures for viewing before class and utilizing the vital face-to-face time for discussion and interaction. Instructors can then post additional materials based on feedback after class to clarify any points of confusion. Echo360 allows administrators to make more efficient use of classroom space as well as determine how to innovate in online or distance learning.
“Universities have a gold mine of content produced every day in the classroom, and Echo360 provides the key to unlock teaching innovation with a proven platform to capture, host, and stream instructional content in a variety of ways,” said Fred Singer, CEO of Echo360. “We partner with more than 500 higher education institutions in 30 countries, giving them our cost-effective and collaborative platform to blend the best of both worlds — classroom learning and online tools. With the capital, expertise, and help of Revolution Growth, we aim to have 30,000 classrooms Echo360-enabled in five years, which would reach 50 percent of all U.S. college students, and allow 15 million students worldwide to benefit from a blended learning environment.”
“There is growing interest in ‘blended learning’ and the ‘flipped classroom’ – and Echo360 is the simple yet powerful technology platform that turns these concepts into reality,” said Revolution Growth Co-founder Donn Davis, who will join the Echo360 board of directors. “Echo360 transforms the century-old classroom, which is analog and place-constrained, to a digital and extended experience, which empowers administrators and instructors to innovate and experiment at the pace and in the way they think best.”
Today, Echo360 focuses on the higher education market, but its solution can be applied to provide blended or distance learning for any training program or education facility. Echo360 is planning pilot programs for the government and corporate markets in 2013.
About Revolution Growth
Founded and led by Steve Case, Ted Leonsis, and Donn Davis, Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative businesses that offer consumers more choice, convenience, and control in their lives. By taking a long-term approach and developing a true, hands-on partnership with entrepreneurs and management teams, Revolution Growth brings a unique strategy and passion to investing in and building significant companies. For more information, visit www.revolution.com/growth.
Echo360 is the global leader in providing the platform to capture, host, and deliver classroom lecture and supplemental materials to higher-education institutions. Echo360 facilitates better instruction, results in greater efficiencies, and enriches learning experiences. The Echo360 solution is flexible and scalable, which allows institutions to chart their digital future. More than 500 colleges and universities in 30 countries currently use the Echo360 solution. Echo360 has been recognized with a Product Line Strategy of the Year Award from Frost & Sullivan and named a Visionary Vendor in Educational Technology by IT research firm Basex. Echo360 is based in Dulles, Virginia.