Financing EdTech: Venture Cycles and Their Lessons

Education is a multi-trillion-dollar spending category with a small digital share, a gap that has drawn venture capital for two decades. It has also produced one of the sharpest boom-and-bust cycles in modern venture. Global education-technology venture funding went from about $7 billion in 2019 to about $20.8 billion in 2021 and fell to about $2.4 billion in 2024, roughly 88% below the peak (HolonIQ).