CHICAGO, Feb.4, 2015 – Follett Corporation today announces a strategic investment in Vocabulary.com, a leading learning platform in the K-12 and consumer space. The investment reflects Follett's support and development of new technology with the potential to enhance the delivery of education and improve student outcomes.
Vocabulary.com is a global online adaptive learning platform that takes a personalized approach toward driving vocabulary proficiency and literacy development. Launched in 2011, Vocabulary.com established itself as a leading consumer and K12 learning platform. Today more than 4 million unique monthly visitors rely on Vocabulary.com to master words critical to their academic, business and personal success. Vocabulary.com's adaptive learning platform uses a "big data" approach to make intelligent choices about what words a particular user needs to master, what questions to ask about those words, and when to ask the questions.
"Vocabulary.com has been designed to expand the vocabulary of every learner, using technology and adaptive tools to make educational improvement an attainable goal for students at every level," said Mary Lee Schneider, President and CEO of Follett Corporation. "We are delighted to partner with Vocabulary.com to improve student success and classroom performance." With Follett's wide participation in the K-12 space, and as a long-time partner to schools across the globe, the investment in Vocabulary.com supports Follett's desire to improve the literacy skills of all students, a leading indicator of future academic success for students.
"Follett has an unparalleled reputation for integrity and customer service within the K-12 marketplace." said Vocabulary.com CEO Michael Freedman. "This relationship gives us a tremendous opportunity to reach K-12 teachers and administrators, a key strategic advantage as we introduce Vocabulary.com to these customers."
Vocabulary.com has been featured in The New York Times, USA Today, Time, and the Journal of Adolescent & Adult Literacy. It was named a top website for 2012 by both Time and PC Magazine, and has earned an Award of Excellence from Tech & Learning magazine.
About Follett Corporation
For more than 140 years, Follett has been a trusted partner to pre-K and K-12 schools, districts, and college campuses, taking care of the critical details that make it easier for schools to run, teachers to teach and students to learn. Every day, Follett serves over half of the students in the United States, and works with 70,000 schools as a leading provider of education technology, services and print and digital content. Follett is higher education's largest campus retailer and a hub for school spirit and community, operating 940 local campus stores and 1,300 virtual stores across the continent. Headquartered in Westchester, Illinois, Follett is a $2.6 billion privately held company.
The Follett Knowledge Fund is a venture capital fund for new technologies with the potential to improve and even disrupt the way educational content is delivered and consumed. The fund is co-managed by Atrium Capital, a Silicon Valley-based venture capital firm that has been co-managing and advising strategic corporate venture programs for more than two decades.
Vocabulary.com (www.Vocabulary.com) transforms the way that students around the world learn vocabulary, offering truly individualized, lifelong vocabulary instruction at a "big data" scale. Through a combination of a deep understanding of language and modern pedagogical techniques, Vocabulary.com represents a new type of learning application, one that helps students unlock the door to a deeper, more nuanced understanding of their world, increasing their chances of achieving academic and business success