Methodology of the world’s top EdTech companies in 2024

TThis year, TIME released its inaugural list of the World’s Best EdTech Companies of 2024, in partnership with Statist, a leading international provider of market and consumer data and ratings. The result of this quantitative study: 250 companies changing the field of educational technology. See how the winners were selected.

Methodology

The “World’s Top EdTech Companies 2024” research project is a comprehensive analysis conducted to identify the top-performing EdTech companies in the United States. First, companies had to focus primarily on developing and providing educational technologies, products or services. Companies are awarded in a main list and also in eleven categories. The 250 companies with the highest score were awarded “World’s Top EdTech Companies 2024”

The classification is built on two pillars: financial strength and impact on the industry. Statista gathered and examined data from more than 7,000 companies through desk research, online application forms, and collaborations with other data and market intelligence companies. A company received scores on each of these dimensions, which were then combined into an overall score.

For the first dimension, financial strength, Statista analyzed data on revenue, employees and financing, obtained from publicly available sources such as annual reports, company websites, through social media monitoring and through databases. In addition, company disclosures submitted through an online registration form, freely accessible on the TIME website, were considered.

For the industry impact assessment, Statista worked with HolonIQ and LexisNexis® Intellectual Property Solutions to evaluate companies across different impact dimensions, covering factors such as:

• quality and impact of your product/service portfolio
• quantity and value of a company’s IP (intellectual property) portfolio.

Additionally, Statista researched metrics such as web traffic and number of users to assess the relevance of products and services to the respective target groups.

The assessment process involved evaluating all relevant companies in the global EdTech sector that performed above average on financial metrics in their geographic region. Subsequently, the selection was narrowed to include only those companies that not only excelled financially, but also demonstrated significant industry impact within their specific categories. This selection process allowed us to establish our final ranking of the Best EdTech Companies in the World 2024. Once the data was collected and evaluated, it was consolidated and weighted within a scoring model. The final score was calculated as follows: 70% x financial strength score + 30% x impact score. The highest scoring companies were awarded “World’s Best EdTech Companies 2024” by TIME and Statista.

Alongside the list of the top 250 EdTech companies, Statista and TIME are also publishing a “Rising Stars” ranking, highlighting companies with the highest revenue growth rates over the past three years among those that have submitted company data through the survey process. online registration.

Criteria applied:

Read the full list here.

Disclaimer: The selection of companies and the definition of evaluation criteria were based on independent journalistic criteria from TIME and Statista. The assessment was carried out by the statistics and market research company Statista. TIME and Statista make no claims to the integrity of the companies examined. The ranking only includes companies that qualify according to the criteria described in this document. A ranking position is recognition based on research of currently publicly available data sources and information received through an application process and collaboration partners. Furthermore, events after March 1, 2024 were not considered in the analysis. As such, the results of this list should not be used as the sole source of information for future deliberations. Information provided through this rating should be considered in conjunction with other information available about a company. The quality of companies that are not included in the ranking is not disputed.