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Academic Systems  Acquired by Lightspan Partnership (1999 $ 53,300,000)

401 Warren Street 2nd Floor
Redwood City, CA 94063
Website Company Summary Management Team

Outside board: (May no longer be on the board) Jim Breyer (Accel) John Grayer (Kaplan Education Centers);  John Kernan (Lightspan Partnershp);  Amar Nehru (Microsoft);  William Perry (U.S. Secretary of Defense);  Dave Schaffer (Jostens CEO)

Business description: Academic Systems Corporation, the secondary and higher education division of Lightspan, Inc. (NASDAQ:LSPN), has focused on meeting the needs of instructors and students since it was founded in 1992. The company’s interactive, multimedia instructional programs, Interactive Mathematics for secondary and higher education students, and Interactive English for college students, offer an enhanced learning environment in developmental and entry-level courses. In addition,, Academic Systems' Web-based product, offers a comprehensive online content library for targeted skill development across many disciplines. Created in concert with educators, Academic Systems’ networked courses have demonstrated increases in learning and achievement; the programs have been used by more than 350,000 students.
Customers include: Calif State University system;  Dallas County Community College District;  Missouri Statewide Initiative;  St. Petersberg Junior College
Partners include: BlackboardBlackboardMicrosoftMobius Venture CapitalThinkwell;  Cogita Learning Media;  Compass Learning;  Smarthinking

Rounds: 6
Capital raised: 43.2M
Ownership: Acquired by Lightspan Partnership (1999 $ 53,300,000)
Angels/other VCs: Jon Greyer (Kalpana);  John Kernan (Lifhtspan);  Amar Nehru (Microsoft)
Corporate investors: Microsoft;  Jostens;  Washington Post

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Sector: Semiconductor Equipment
Year Founded: 1992
Headcount: 76-100 as of Apr 1999
Rounds: 6
Capital Raised: 43.2M
Ownership: Acquired by Lightspan Partnership (1999 $ 53,300,000)