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Kno Secures $47 Million Funding Final Press Release

Kno Secures $47 Million Funding Final Press Release

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Published by Kara Swisher
(Source: Kara Swisher)
(Source: Kara Swisher)

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Categories:Types, Business/Law
Published by: Kara Swisher on Sep 08, 2010
Copyright:Attribution Non-commercial


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Kno, Inc. Secures $46 Million in Equity and Debt Financing
Revolutionary Digital Textbook and Learning Platform Aimed at Education Market Gears UpFor First Customer Product Ship
Santa Clara, CA  September 8, 2010  Kno, Inc., a groundbreaking digital textbook anddynamic learning platform for students, today announced it has secured $46 million in thecompanys latest round of Equity and Debt financing. Andreessen Horowitz, a leadingSilicon Valley venture capital firm, was the lead investor with Silicon Valley Bank andTriplePoint Capital also participating. The company plans to use the new capital tocontinue its product innovation and assist with the first shipment of product later this year.Kno is gearing up to launch the first digital device that we believe will fundamentallyimprove the way students learn, said Osman Rashid, CEO and Co-founder of Kno, Inc. Weare thrilled by the support from Andreessen Horowitz, Silicon Valley Bank and TriplePoint Capital to help us continue to deliver on our product roadmap and ultimately deliver on ourvision to bring innovative digital technology to the world of education.Kno, short for knowledge, is a ground breaking learning platform that blends a unique two-panel, touch-screen tablet, digital textbooks, course materials, note-taking, web access,educational applications, digital media, sharing and more into a powerful and engagingeducational experience not available on any other tablet or eReader on the market today.We are strong believers in the disruption of untapped markets and education is a primeexample of a sector in need of digital innovation, said Marc Andreessen, Co-Founder oAndreessen Horowitz and Kno Board Member. Kno is poised to lead the market with itsdigital textbook and learning platform and we are excited to be part of the revolution.The Kno will propel education into the 21st century with an all-in-one device and learningplatform that gives students access to digital textbooks, course materials, email, video, theweb and more, and enhance their learning experience, said Babur Habib, Chief TechnologyOfficer and Co-Founder of Kno, Inc. We plan to use the infusion of capital to get the Knointo the hands of students for beta testing this fall and ultimately for the first customer shiplater this year.According to the newly released E-Textbooks in Higher Education report from SimbaInformation, a leading authority in market intelligence in the publishing industry, E-

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