Updated July 30, 2018 05:17:20Daydream, a company that makes educational software for college and university students, raised $300m on Thursday.
The round was led by the Carlyle Group, which is run by former Google executive Susan Wojcicki.
Wojcoznicki is one of the company’s cofounders.
The company has over 4,000 active students.
The new round also includes funding from the University of Chicago’s Media Lab, which provides mentoring, business development and business development opportunities for underrepresented students.
The company is targeting a $1 billion market in the next five years, with the majority of its revenue coming from software and services.
The majority of Daydream’s revenue comes from licensing and commercial deals with colleges and universities.
Wojciknicki also said that she believes Daydream can help to “rebuild” the education ecosystem.
“Daydream is one example of the transformative technology that we’re seeing, and we’re going to see it play a significant role in our future,” she said.
The two are also working together on a collaboration with Microsoft.
The tech giant is partnering with universities to deliver Daydream-ready educational content for students and staff.