David Liu

Denis Wilson is Editor-in-Chief of Publishing Executive, Printing Impressions' sister publication that covers the magazine publishing business.

Just when it looked like the bubble might be cracking, that venture capital investment in education was stuck in the doldrums, and that the year in EdTech might end with a whimper, no bang in sight, along comes Knewton to put an exclamation point on an active December.

In a whopping round that stands as the fifth largest venture investment for an education company in 2013, TechCrunch has learned that the New York City-based EdTech veteran has just closed a $51 million financing,

In 2012, Houghton Mifflin Harcourt (HMH) filed for bankruptcy protection. In July of this year, Cengage Learning did the same, hoping to eliminate $4 billion in debt. Earlier in the year, McGraw-Hill completed the sale of its entire education division. And though HMH has since emerged nearly debt free and is seeking an IPO, clearly these are signs that disruptive changes are underway in educational publishing.

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