Education tech enjoys boost from investors

New York

THE education technology business is chock-full of fledgling companies whose innovative ideas have not yet proven effective - or profitable. But that is not slowing investors, who are pouring money into ventures as diverse as free classroom-management apps for teachers and foreign language lessons for adult learners.

Venture and equity financing for ed tech companies soared to nearly US$1.87 billion last year, up 55 per cent from the year before, according to a new report from CB Insights, a venture capital database. The figures are the highest since CB Insights began covering the industry in 2009.