Boston Startup LTG Grabs Money For Standardized Test Prep Apps
Studying for standardized tests like the SAT can be expensive and tedious, with students (and their parents) shelling out hundreds of dollars for classes or private tutors.
With its set of mobile apps, Boston edtech startup LTG Exam Prep Platform is trying to deliver a cheaper, more convenient, and more personalized alternative to traditional test preparation options. And LTG just snapped up more cash to help it achieve its goals.
LTG announced today it raised more than $5.3 million in a Series A round. Square Peg Capital led the investment, and Accomplice and several individual investors also contributed. In total, the startup has raised over $8.5 million from investors to date, a spokesman said.
Founded in 2012, LTG has developed mobile apps that help students study for the SAT, GMAT, and GRE tests. It’s not the only developer of standardized test prep apps, but the company says one of its key features is an algorithm that tries to understand each student’s learning patterns and adjust the study process accordingly. LTG also developed what it calls the “Label Study Method” that highlights key words in practice questions, so that students recognize patterns in test design and can more quickly find the right answers.
The company, which employs 19 people in Boston and another 19 in Israel, says half a million students worldwide have used its apps. The new money will go toward building out its senior management team; creating apps for additional standardized tests, including the MCAT; and adding products and services that help universities and other educational institutions market themselves to students.
LTG’s announcement follows a string of recent Boston-area edtech news, including a $6 million investment in BetterLesson, $6.4 million more for Ellevation, and Cengage Learning’s new remedial math software for college freshmen.