Bellevue’s DreamBox Sold!
By Seattle Business Magazine April 20, 2010
DreamBox, a Bellevue based company that specializes in online learning software, has been purchased by the Charter Fund, a non-profit venture capital firm. Netflix CEO Reed Hastings partnered with the Charter Fund on the deal and will assume the role DreamBox chariman.
The financial terms of the deal weren’t disclosed, but Hastings and the Charter Fund stated that they were investing an extra $10 million in DreamBox to help fuel expansion.
DreamBoxes software works by adapting to a students needs. If a student takes more time to answer multiplication problems than division problems, the software will shift its focus towards multiplication.
We profiled DreamBox in our Top 25 Innovators issue last fall. They’re number 21 on the list. A few more details about the deal are available here.