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Amesite is Improving the Way the World Learns
The AI-Powered Learning Platform That is Making Education Affordable, Accessible, and Engaging. Amesite is an artificial intelligence software company offering a cloud-based platform and content creation services for K-12, college, university and business education, and upskilling. Amesite’s platform enables their clients to launch branded learning programs quickly, and they currently boast a 98% learner retention rate.
Amesite Announces Advanced A.I. Driven Electric Vehicle Courses For Michigan’s Third-Largest Institution of Higher Learning, Wayne State University
Amesite Inc., (Nasdaq: AMST), an artificial intelligence software company providing the most advanced A.I. powered online learning ecosystems for business, higher education and K-12, announced today an expansion of its partnership with Wayne State University, Michigan’s third-largest institution of higher learning. Created and delivered by Amesite, and targeting its alumni and members of the WSU community, the university will now offer six-week on-line, A.I. powered certification courses covering the following content:
- Autonomous Vehicle Technologies
- Data Science
- Electric Vehicle Technologies
- Mobility as a Service
- Programming for Autonomous Systems
Dr. Farshad Fotouhi, Dean of Engineering at Wayne State University, stated: “We chose to partner with Amesite because they offer the most advanced online learning platform in the market today. The feedback from our students and instructors has been overwhelmingly positive.”
Dr. Ann Marie Sastry, founder and CEO of Amesite, commented, “Even the most recently-graduated engineering cohorts did not train deeply on electrification technologies, and the industry has a critical need for talent. The fact that Michigan’s third largest university with 27,000 students and over 250,000 alumni, chose Amesite to create and deliver courses in the electric-vehicle industry is indicative of the quality of our A.I. driven platform and our ability to create exceptional and innovative content. We are extremely well-positioned for growth, addressing an enormous market opportunity, as we continue to roll out what we believe is the best A.I.-driven online learning platform in the industry.”
According to Gartner, the global online education market is expected to reach $246 billion by 2026, a CAGR of 8.2%.
The entire automotive industry is transforming as it delivers electric, autonomous and connected vehicles. Sales of electric vehicles now top 2 million annually as part of a $151 billion global electric mobility market. The global autonomous vehicle market is projected to be valued at $54 billion.
The new courses will launch on February 22. People interested in learning more about the certificates are encouraged to visit: https://wayne.amesite.com/
Watch Amesite CEO, Ann Maire Sastry, Present at the 2020 LD Micro Main Event
5 Reasons Amesite is the Next Big Thing in EdTech
01 Market Growth —
COVID-19 accelerated the growth of an already expanding edtech industry. Expected to reach $374 billion by 2026, the elearning market holds an opportunity for massive growth.
02 Leadership —
Dr. Ann Marie Sastry is a seasoned CEO, who successfully sold her last company, Sakti3, for $90 million. She brings a wide range of expertise to the company from her experiences in academia and business.
03 Multiple Verticals —
Niche is the name of the game among most elearning platforms. Not Amesite. Their unique approach allows them to tackle multiple verticals in the marketplace; from k-12 education, to higher learning, to aftermarket skills and branded corporate training.
04 The AI Edge —
In addition to all the other features the platform offers, the most interesting is their machine learning capabilities. Amesite boasts that, through their proprietary AI, their learning platforms have the ability to self-update and enhance the user experience automatically.
05 Platform —
As Dr. Sastry likes to point out in interviews, “a good platform is easy to use and hard to code.” One of the big selling points here is the client’s ability to “plug and play”. As long as the content is ready, the courses practically build themselves.
Shaking up the EdTech Space
Shaking up the EdTech Space
Amesite (NASDAQ: AMST) is improving the way the world learns, through artificial-intelligence software products.
Their mission is to make learning more affordable, accessible, and engaging using disruptive technologies and offering superior service.
It is Amesite’s belief that all learning communities deserve to have access to the most cutting-edge tech and the most up-to-date content.
But who are they working with now?
This edtech company has made inroads in multiple market verticals, including K-12, higher education, and corporate learning. Customer highlights include; Peru School District, BOCES, and Ford.
Amesite (NASDAQ: AMST) is poised to take advantage of the quickly growing elearning market. Using superior technology and services, they likely will build upon previous success and scale their platforms to suit market demand. This disruptive company is right on the edge of massive growth.
Developing the Workforce for the Future
Can Amesite Capitalize on Shutdown Opportunities?
Even before COVID-19 caused worldwide shutdowns, businesses and schools had begun adopting remote learning and working solutions. The global edtech market was on track to reach $374 billion by 2026, and will likely get there sooner due to pandemic related factors.
Amesite (NASDAQ: AMST) allows businesses and schools to launch their customized learning platforms faster and cheaper, all while including their AI-driven functionality.
Of course Amesite isn’t the only player in the elearning realm. You’ll likely be familiar with companies like Chegg, Blackboard, Coursera, and dozens of others. It’s a big pond. But due to certain competitive advantages, we think Amesite will be a big fish.
As you can see, Amesite’s platform offers several features that their competitors lack. Especially useful is their data-driven feedback that allows course managers to adapt the content to maximize student/employee success.
“It’s absolutely imperative that we offer courses that prepare our children for the future, which will require that we innovate in our curricula,” Peru Central School District Superintendent Dr. Thomas Palmer said. “…We appreciate the clean design, ease of use and technical capabilities of the Amesite platform, and are pleased and committed to using it in our STEM and workforce programs, to support our teachers and students with the best technology available.”
Some of the things that make Amesite stand out to us are the ability to have courses up and running in 24 hours, coupled with their pay-by-the-slice pricing model. Amesite is also committed to designing a platform that is “no more than two clicks deep”, which is to say that proctors and students don’t need any extensive training to use the interface.
Amesite in the News
- Amesite CEO Ann Marie Sastry Appears on CAVUTO
- Amesite to Present at Investor Conference
- Successful Completion of Ford Motors Pilot Learning Program
- Amesite Announces Plug-and-Play Course Creation
Massive Market Potential
Using mostly social outreach, Amesite has been able to achieve a relatively high level of recognition without spending too much capital. They have a strong social media presence, boasting 13K Twitter followers, and Dr. Sastry has done a lot to champion the brand in interviews.
The money raised in Amesite’s IPO was almost entirely earmarked for growth, and as Amesite expands their sales team, we can expect more contracts to be won over time. The nature of education contracts mean that revenue will lag, but once the initial push is done to hire sales staff who can execute, the expansion of won business should make up for the temporary burn increase.
Building Out Existing Contracts; Best Bet for Growth
Building Out Existing Contracts; Best Bet for Growth
Like with many businesses, a small contract executed well can lead to larger jobs in the future.
Through the Champlain Valley Educational Services Board of Cooperative Educational Services (CVES BOCES), Amesite has the ability to scale their platform to school districts throughout the state.
“We are thrilled to be able to offer our products through the CVES BOCES to the Peru Central School District, and now, to any of the more than 600 public school districts in New York State. The cost-sharing provided by the State of New York puts teachers and students first and helps every district in the State advance their technology through streamlined, cooperative purchasing,” said Amesite Founder and CEO Dr. Ann Marie Sastry.²
Success in this area should carry over to other states, and puts Amesite in a favorable position. Coupled with their successful launch of a pilot education program for Ford Motors, we’re betting these contracts are just the start.
The edtech space, like so many other markets, has been transformed by outside factors. Big shake ups, like we’ve experienced during 2020, typically show us who has staying power and who will be a flash in the pan. Amesite has managed to develop a superior platform, offer excellent service, and has even won multiple Best Workplace awards. As more companies and schools make the move to online learning, we’ll see who can capitalize on the shift.
Management Team
_______________________________________________________________________________
Ann Marie Sastry, Ph.D.
President, Chief Executive Officer, Chairman of the Board and Interim Chief Financial Officer
Dr. Sastry has been our President, Chief Executive Officer, and Chairman since our incorporation in November 2017. From April 2008 to October 2015, Dr. Sastry served as the President, Chief Executive Officer, member of the board of directors and co-founder of Sakti3, recognized as one of the Massachusetts Institute of Technology’s 50 Smartest Companies in 2015. Backed by a global team of venture capitalists Sakti3 was sold to Dyson Ltd. in 2015 for $90 million. Dr. Sastry was invited to the White House in 2015 to be recognized for her technology entrepreneurship, and meet with President Barack Obama. From October 2015 to November 2017, Dr. Sastry continued on with Dyson as head of the global solid state battery team, focusing on technology strategy and advancement, staff and organizational growth, and partnership development. Her technology and business work have been featured in the WSJ, Fortune, Forbes, the Economist, USA Today, the New York Times and on the cover of Inc.
Prior to starting her companies, Dr. Sastry was a professor of engineering at the University of Michigan. Dr. Sastry was named an Arthur F. Thurnau Professor (UM’s highest teaching honor) in 2008. Tenured and promoted early, Sastry was recognized with some of the highest honors in her scientific fields over her 17 year academic career, including the ASME Frank Kreith Energy Award (2011) and NSF’s Presidential Early Career Award for Scientists and Engineers (1997). She founded two academic research centers in intracellular signaling (Keck Foundation) and advanced automotive batteries (GM / Department of Energy), and a global graduate program in Energy Systems Engineering. She has co-authored over 100 publications and 100 patents and filings, and has delivered over 100 invited lectures and seminars globally on a range of scientific and technology topics, spanning mathematics, physics, bioscience and battery technology. Sastry is active in philanthropy and business mentorship, with a focus on education and poverty alleviation. She holds PhD and MS degrees from Cornell University, and a BS from the University of Delaware, all in mechanical engineering.
Mike Smiley
Director of People
Joined the Amesite team in 2020. HR Manager and Administrative Manager at Sakti3. Received 6 workplace excellence awards at Sakti3. Integrated the Sakti3 team into Dyson, following Sakti3’s acquisition in 2015. Served on the People Enablement Team within Dyson to deliver process improvements and organizational change to enable a high-performance culture.
Expertise: global hiring, performance management, and global HR collaboration on people needs ranging from benefits to compliance and regulatory change management. Holds a BBA in Business Administration, HR Management from Cleary University.
Investment highlights
Amesite is shaping up to be a rapidly growing presence in the Learning Platform SaaS market. When thinking about their potential as an investment we think several things separate them from their competitors.
They have demonstrated superior AI technology through the ability to have courses up and running within 24 hours, as well as update course content automatically. Their platform offers intuitive features and helpful analytics that enhance user experience.
Amesite has existing contracts that will continue to bring in revenue, while providing the inroads for expansion. Their platforms boast a 98% retention rate, so every contract won, is likely to be reliable revenue for the foreseeable future.
The potential for growth in the AI Cloud Platform SaaS market is hard to overstate. By 2025 the AI market is projected to grow to $126B and the online edecuation should be at $319.2B. Meanwhile the SaaS for business market is projected to grow to $623B by 2023. We feel pretty good about a company that sits in the middle of that Vinn Diagram.
The Future of Learning
The pandemic greatly accelerated the adoption of technologies that enable the continuance of everyday life. One of the markets impacted the greatest was absolutely cloud-based content creation for the purposes of education. Amesite’s AI-driven software, exceptional customer service, rockstar CEO, and impressive product offerings make them stand out. Ultimately, we think Amesite is going to be a big player in the e-learning space, with room to expand even further as the industry grows.
Sources
- https://www.globenewswire.com/news-release/2020/12/17/2146962/0/en/Global-E-learning-Market-Size-Trends-Will-Reach-USD-374-3-Billion-by-2026-Facts-Factors.html#:~:text=According%20to%20the%20%5B220%2B%20Pages,14.6%25%20from%202019%20to%202026.
- https://www.prnewswire.com/news-releases/amesite-agrees-to-provide-its-k-12-remote-learning-platform-through-the-champlain-valley-educational-services-board-of-cooperative-educational-services-cves-boces-to-the-peru-central-school-district-aims-to-expand-offerings-thr-301092566.html
- https://www.wfmz.com/news/pr_newswire/pr_newswire_business/amesite-agrees-to-provide-its-k-12-remote-learning-platform-through-the-champlain-valley-educational/article_25f9d72f-710e-551c-89e8-9a84fb76baaf.html
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- Name of Issuer & Ticker Symbol - Amesite (AMST)
- Amount & Form of Compensation - $150,000.00 in Common Stock
- Who Paid for the Campaign & Position with Company if any - Amesite (AMST)
- Period of Campaign - 3/17/2021 - 4/30/2021
- Name of Issuer & Ticker Symbol - Amesite (AMST)
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- Date Issued - 3/17/2021
