Company:Ready4

From HandWiki
Ready4
FormerlyLTG Exam Prep Platform
TypePrivate
IndustryHigherEd, Admissions, Test preparation
Founded2013 (2013)
Boston
FounderElad Shoushan
Headquarters
Number of locations
2 (United States and Worldwide)
Area served
Worldwide
Key people
  • Elad Shoushan (Founder & Former Chief executive officer)
  • Julie Kamienski (Director, US Operations)
Products
  • Ready4 GMAT
  • Ready4 GRE
  • Ready4 SAT
  • Ready4 ACT
  • Ready4 PSAT
  • Ready4 MCAT
Number of employees
55 (2017)
Websiteready4.com

Ready4 is a test preparation and college admissions services startup company.

Ready4 was chosen among EdTech 20, the twenty most innovative educational technology companies, in 2016.[1] It was a finalist in MassChallenge's 2013 accelerator, as well as a semi-finalist in 2013 MIT $100K Entrepreneurship Competition.[2]

History

The company was founded by Israeli tech entrepreneur and former Israeli professional basketball player, Elad Shoushan. A graduate of MIT's Sloan School of Management, Shoushan led the company from inception to exit. He started the company after failing the GMAT a few times and became motivated to create a mobile platform that would turn test prep into a more personalized experience.[3]

The Prep4GMAT app was originally coded for iOS. Shoushan launched the Android version in August 2014 and raised $3 million from TAL Education Group, Atlas Venture, Jamie McCourt, Yongjin Group and Zhen Fund.[4]

The company raised $5.33 million in Series A funding in March 2016. The round was led by Square Peg Capital and included Accomplice, as well as various angel investors.[5] At the time, the apps were being used by half a million students worldwide.[6]

In 2019, Ready4 was acquired by TAL Education Group (NYSE:TAL) to provide Ready4's offering at a larger scale.[7][8]

References

  1. Sophie Blitman (13 June 2016). "Exclusif. EdTech : les 20 start-up qui comptent en Europe" (in french). EducPros.fr. http://www.letudiant.fr/educpros/actualite/edtech-les-20-start-up-qui-comptent-en-europe.html. Retrieved 22 November 2016. 
  2. Lauren Landry (21 August 2014). "MIT-Spun Startup Raises $3M to Help More Than Just Aspiring MBAs Study On the Go". BostInno. http://bostinno.streetwise.co/2014/08/21/ltg-exam-prep-platform-raises-3-million-prep4gmat-app/. Retrieved 22 November 2016. 
  3. Tina Irgang. "How failing the GMAT 4 times turned Elad Shoushan onto a winning business idea". Smart CEO. http://www.smartceo.com/how-failing-gmat-4-times-turned-elad-shoushan-onto-a-winning-idea/. Retrieved 22 November 2016. 
  4. Julian Chokkattu (21 August 2014). "LTG Exam Prep Platform Raises $3M In Series A Round To Develop SAT, More Test Apps". TechCrunch. https://techcrunch.com/2014/08/21/ltg-exam-prep-platform-raises-3m-in-series-a-round-to-develop-sat-more-test-apps/. Retrieved 22 November 2016. 
  5. Olivia Vanni (3 March 2016). "LTG Exam Prep Raised $5.25M to Go Beyond Its Free Mobile Test Prep". BostInno. http://bostinno.streetwise.co/2016/03/03/free-test-prep-ltg-exam-platform-gets-startup-funding-to-expand/. Retrieved 22 November 2016. 
  6. "Israeli startup LTG Exam raises $5.3m". Globes. 21 March 2016. http://www.globes.co.il/en/article-israeli-startup-ltg-exam-raises-53m-1001111547. Retrieved 22 November 2016. 
  7. "TAL Education Acquires Test-Prep and College Admissions Startup, Ready4 - EdSurge News" (in en). 2019-02-08. https://www.edsurge.com/news/2019-02-08-tal-education-acquires-test-prep-and-college-admissions-startup-ready4. 
  8. "Beijing's TAL Education Group acquires Israeli-founded Ready4". https://www.jpost.com/israel-news/beijings-tal-education-group-acquires-israeli-founded-ready4-580259. 

External links