Knewton Selected by World Economic Forum as a 2011 Technology Pioneer

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Deemed one of the most innovative technology start-ups around the world with promise to have a critical impact on the future of business, industry and society

Knewton, a leading educational technology company, announced today that it has been selected to the newest class of Technology Pioneers acknowledged by the World Economic Forum. The Forum selection committee, comprised of 68 global technology experts, honored 31 start-up companies from around the world for their cutting edge innovation and technology, indicating that the class was “poised to have a critical impact on the future of business, industry and society.” Knewton will be presented with its recognition during the Annual Meeting of the New Champions in Tianjin, People’s Republic of China, in September 2010, and will attend the World Economic Forum in Davos, Switzerland in January 2011.

“It’s an honor to be selected by the World Economic Forum as a Technology Pioneer,” said Jose Ferreira, Knewton CEO and Founder. “As the first education company to receive this distinction, we are committed to improving lives around the world through access to uniquely personalized education from the world’s best educators.”

The identification of the Technology Pioneer companies is the result of a vigorous selection process, for which the Forum received more than 330 applications from around the world. This year, the Forum received the widest range ever of country of origin, with 13 countries represented: Australia, Canada, India, Israel, Lithuania, the Netherlands, Nigeria, People’s Republic of China, South Africa, Switzerland, Thailand, the United Kingdom and the United States. Over half of the Technology Pioneers are from the United States, underscoring the country’s position as a leading incubator for innovation.

“The World Economic Forum is proud to recognize an outstanding group of innovative companies as Technology Pioneers for 2011,” said André Schneider, Managing Director and Chief Operating Officer of the World Economic Forum. “Their technologies and business models will have a durable and valuable effect in several industries and society as a whole. We look forward to their unique contributions to the mission of the Forum: improving the state of the world.”

To be selected as a Technology Pioneer, a company must be involved in the development of a major technology and/or innovation and have the potential for long-term impact on business and society. In addition, it must demonstrate visionary leadership and show all the signs of being a long-standing and sustainable market leader – and its technology must be proven. Previous Technology Pioneers include 23andme (2008), Amyris Biotechnologies (2006), BloomEnergy (2010) Dr Reddy Laboratories (2001), Google (2001), Gridpoint (2008), Kaspersky Lab (2001), Mozilla Corporation (2007), Nanosolar (2007) and Twitter (2010).

About Knewton
Knewton has developed the industry’s first adaptive learning engine, powering customized educational content to meet the individual needs of each student. Knewton delivers content matching each student's ideal learning arc and preferred medium. Knewton’s GMAT prep, LSAT prep, and SAT prep courses provide live and on-demand instruction from the country’s brightest and most experienced teachers, powered by an adaptive learning engine that targets a student’s individual strengths and weaknesses. Knewton was founded by Jose Ferreira, a former executive at Kaplan, with funding from Accel Partners, Bessemer Venture Partners, FirstMark Capital, First Round Capital and prominent angel investors. Knewton plans to apply its online adaptive learning to a wide range of education markets. For more information, please visit http://www.knewton.com.

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Matthew Mirandi

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