LTG Exam Platform raised a $5.325 million Series A round of funding led by Square Peg Capital with participation from Atlas Venture and strategic individual investors. Based in Boston, LTG develops mobile apps for standardized test preparation.
BOSTON, MA – March 3, 2016 – LTG Exam Platform (LTG), developer of the leading mobile apps for standardized test preparation used by a half million students worldwide, has announced a Series A round of venture capital investment, totaling $5.325M as of March 3, 2016.
The round is led by Square Peg Capital, joined by Atlas Venture, and strategic individual investors Jamie McCourt, Edward and Mitch Roberts, Margot Lebenberg Carter of Living Mountain Capital, Brian Shin, and Eric Dobkin, among others.
Series A funding will allow LTG to invest in building out its senior management team and strategy in key areas such as product, engineering, user experience, branding, demand generation and distribution; increase the depth of its portfolio of popular, free consumer apps, which currently includes Prep4SAT, Prep4GMAT, and the recently launched Prep4GRE for iOS and Android; and to develop revenue streams through new products and services that enable universities, business schools and other institutions to meet their marketing and enrollment objectives.
Making Exam Success Affordable and Accessible for Everyone, Everywhere
Test preparation currently costs students and their families thousands of dollars each year. Classes can range from $200 to more than $1,500, while private tutors can cost even more. LTG provides a free alternative, untethered from the classroom or the tutor’s schedule. These apps arm students with the mobility they have come to expect in all facets of their lives.
LTG designs its apps based on a proprietary algorithm that detects student’s individual learning patterns and dynamically optimizes the study process for that student. With the new funds, LTG will invest in creating an even more individualized approach for students by enabling developers to incorporate additional innovative features, after the success of School Matcher and Leaderboard, which were recently integrated.
“From the get-go, LTG has steadfastly committed to leveraging mobile to put the power in the hands of twenty-first century students,” said Philippe Schwartz of Square Peg Capital. “The team has the potential to reshape not only how every student prepares for standardized test prep but also how students navigate their journey through higher education, and we’re proud to be a part of that.”
A Powerful, New Marketing Platform for Schools
With a growing portfolio of free exam preparation apps downloaded by a half-million students across the world, LTG is now building out unique, proprietary capabilities that enable universities to market their programs to the right students at the right time, helping them achieve their enrollment goals.
“With a fresh capital investment on top of an incredible mobile product portfolio, we are poised to tap into a massive global market by assisting both students and schools,” said Elad Shoushan, founder and CEO of LTG Exam. “Our proprietary technology can be applied to virtually any standardized test, so the market potential is really unlimited.”
About LTG Exam Prep Platform
LTG Exam Prep Platform is transforming standardized test prep by making it accessible, adaptable and mobile. As MIT alumni, we were inspired to create our apps based on our own successes, failures and frustrations studying for standardized tests. We’re helping students fulfill their academic potential by engineering a smarter way to study. Follow us on Facebook, Twitter, and LinkedIn.