Franklin Templeton and TCV led a $100m Series D round in Newsela, a K-12 instructional content platform, with participation by Owl Ventures, Tao Capital Partners, Chan Zuckerberg Initiative, and Waycross Ventures. "The demands of remote learning amplified pre-existing weaknesses in how K-12 instructional content is evaluated, procured, and delivered. The widespread shift of traditional classrooms to digital experiences spurred by the pandemic has greatly accelerated the transition from paper-based materials to SaaS solutions already underway," Chris Anderson, Franklin Templeton Research Analyst and Portfolio Manager.