The pandemic was a boon for Paper. In the two years since COVID-19 forced school closures across North America, the Montreal-based edtech company, which offers remote tutoring services for students, saw its user base increase from roughly 50,000 to more than two million, according to CEO Philip Cutler.
Investors took notice. In June 2021 Paper raised US$100 million in a Series C fundraising round led by IVP, followed eight months later by a $344 million round co-led by global tech investment giant SoftBank, famous for backing the likes of WeWork and Uber.
Paper sells subscriptions to its platform directly to school districts, who pay an annual license fee per user. While its headquarters are in Canada and its tutors are based across North America, its customers are mainly school districts in the U.S.
In an interview this summer, Cutler discussed the company’s next steps, including expanded offerings that could include guidance counseling and college advising, its plans for acquisitions and its efforts to do more business in its home country. This interview has been edited for length and clarity.
