Company Research Report: Formative

Company Overview

• Name: Formative

• Mission: To enhance education by providing tools for real-time instruction and assessment that foster meaningful classroom learning.

• Founded: No information is available.

• Key People: No information is available.

• Headquarters: No information is available.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Formative is recognized as a leading platform for real-time instruction and assessment, utilized extensively in K-12 education to engage, instruct, and assess students.

Products

Formative Assessment Platform

• Description: Formative's platform offers tools for creating unlimited lessons, assignments, and assessments with live student interaction.

• Key Features:

• Convert PDFs or Google Docs into auto-graded quizzes.

• Present slides with built-in questions for paced lessons.

• Tools for enhancing reading passages with interactive questions.

• Promote student agency and metacognition.

• Advanced math tools for higher-level thinking.

• Embed videos with timestamped questions.

• Allow audio and video responses for creative output.

• Real-time feedback and student engagement.

• Extensive question types including multiple-choice, short answers, drawing, audio response, drag-and-drop, and more.

• Anti-cheating measures and real-time data tracking.

Pricing Plans

• Bronze Plan: Free access to basic features like creating and managing lessons with real-time tracking.

• Silver Plan: Paid plan offering advanced question types, grading tools, and assignment settings.

• Gold Plan: Comprehensive plan with collaboration tools, anti-cheating features, extensive data tracking, student accommodations, and premium support.

Recent Developments

• Acquisition: In June 2023, Formative was acquired by Newsela, a leading K-12 instructional content platform, enhancing the integration of classroom content and assessments.

• Security Enhancements: Formative announced robust IT security and privacy strategies in June 2022 to support secure data collection and exchange.

• Funding: Formative raised $70 million in June 2021 to innovate beyond traditional test-based assessments, emphasizing formative assessments that support educational growth.

• New Partnerships: Formative has received accolades for being a top tool integrated with Google Classroom. New partnerships have enabled seamless integration with SIS providers, enhancing data synchronization and reporting features.

• Product Enhancements: Recent upgrades include advanced learning management system integrations, demographic reporting, and accommodations for varied learners, including SpEd and ELL.

This report uses only the available data, and gaps in information are marked with "No information is available" for transparency.