Cloud Based Education
Founded by Gerd Kortemeyer, CSO, Co-Founder and Rob Fulk, CEO, Co-Founder in June 2013. CourseWeaver plans to completely revolutionise education and is well on the way to doing so.
Think of CourseWeaver as education in the cloud, how it does that, is by providing education materials and aids such as textbooks, templates and other learning tools to teachers; professors and students, while all the time being able to track as well manage the progress of their students and their work.
“What’s out there is not innovative at all,” says Rob Fulk, “We are taking all those systems and making them electronic, creating a new landscape”. He went on to say “It’s really the next generation of learning platform.”
This has the benefit of saving valuable time for teachers and professors, who no longer have to wade through countless textbooks and papers, thus increasing the availability of teachers, as well as students who will no longer have to spend a small fortune on materials.
There is also the option for universities to purchase web hosting, which allows them to outsource the management of student assignments as well as their homework.
Real Time Feedback and Analytics
The company's humble beginnings started out in 1992, when the Computer Assisted Personalized Approach or CAPA was tested in Michigan State University at a physics class. Over the years it has grown into an ability to give its students customised exams, projects and quizzes with real time feedback, analytics and assessment on their progress.
Since then CAPA has merged into LON-CAPA or Lecture Online Computer Assisted Personalized Approach. This has been allowed to happen thanks to a $4 million grant provided by the NSF National Science Foundation, with its vision to develop an all in one learning management platform.
Continuing Rob said; “We look forward to welcoming and continuing to support existing LON-CAPA customers. Their experience and ideas, together with our educator-industry coalition, help drive the continued development of the next generation CourseWeaver learning platform: by educators for educators”.
CourseWeaver is now being used by over half a million students, in over 19 different countries across the world as well as being supported by Universities, publishers, academics and students. In 2016 they are on track to become profitable with over $9 million in revenue and targeted revenue of $50 million in 2018.
Back in February of 2014 CourseWeaver completed an acquisition of Haslett-based EduCog LLC. Educog was set up in 2004, equipping educational establishments and K-12 schools with an array of online services such as migration,hosting, support and training for the LON-CAPA e-learning management system.
Last year CourseWeaver formed a partnership with Michigan Virtual University to provide a leading Learning & Content Management System to all K-12 schools within the state of Michigan.
“Our strategic alliance with CourseWeaver will foster the development of powerful learning tools that have the potential to transform K-12 education”, said Jamey Fitzpatrick, CEO and President of MVU. The success of CourseWeaver is continuously going from strength to strength.
According to Rob Fulk; “We'll have two main revenue streams. The first, which we're already doing, is from charging schools for Web hosting, service support and integration with our platform. Eventually, we'll also collect licensing fees from students using customized course content.”
Investment Interest In Eductech
All this success is no doubt attracting strong interest from a number of venture capitalist firms and investors, who are keen to get a slice of the edutech pie.
All this growth has also had the benefit of opening up a number of local job opportunities, although CourseWeaver has found it a challenge initially attracting people with the necessary talent and skills it has been searching for.
In closing Rob Fulk has this advice for the entrepreneur of the future “Live as cheap as you can and bootstrap it.”
By David Doyle