Charter Fund Acquires DreamBox In Partnership With Netflix CEO Reed Hastings
April 20, 2010 at 08:53 AM EDT
DreamBox this morning announced that it has been acquired by a new partnership between Netflix CEO Reed Hastings and the Charter Fund , a non-profit venture capital firm. Financial terms of the acquisition were not disclosed, although we know the agreement includes a $10 million R&D investment and newly appointed board members. Dreambox Learning was backed by $7.1 million in funding from angel investors. The funds will be used to develop new e-Learning content across a variety of disciplines, as well as technology enhancements to the DreamBox Learning Platform.