My friend Tom Ryan at Bessemer Venture Partners recently reported about his participation in a $2.7M Series A round with San Francisco based Grockit.
Grockit has been in the online learning space for a couple of years now, but has apparently decided to reinvent its business model with technology they describe as MMOL - Massively Multiplayer Online Learning – on the theory that students learn best from each other.
Tom’s pumped, but nobody’s talking. Not Grockit, not the investors, and not the media. There’s a complete vacuum around the specifics of what MMOL will actually be.
From what I gather, this is a fairly recent shift for them so I’m not quite sure how far along they are in commercializing the product. To be quite honest, I’m not even sure how to evaluate the placement. The VC community is an interesting bunch to say the least.
I guess I’ll just have to take Tom’s exuberance as a positive signal and wait for the details to surface.