Open Web Annotation Tool Hypothesis Forms Public Benefit Corporation Secures $2.5M Investment from ITHAKA
Hypothesis, creator of an open annotation tool that allows users to make public or private annotations on any web page, PDF or document, has incorporated as a public benefit corporation – a move that will allow it to seek the necessary funding to scale the service, the company said in a press release. The new company, Anno, received $14 million in seed funding, including a $2.5 million investment from ITHAKA, the nonprofit provider of the JSTOR digital library.
Assumptions accounts will remain free for individual users, and the tool will continue to be available as a paid enterprise service for colleges and universities. The service has 1 million users worldwide and more than 200 institutional clients.
Together, Anno and ITHAKA are launching a pilot project that will allow faculty and students at a number of colleges and universities to use Hypothesis to annotate scientific content on JSTOR from their learning management systems. Ultimately, the plan is to make it easy for all JSTOR users to use Hypothesis for annotation both inside and outside the classroom.
“Our mission is to improve access to knowledge and education so that people can learn, grow and thrive,” commented Kevin Guthrie, president of ITHAKA, in a press release. “Engaging students in their learning through annotation and social reading is a compelling capability made possible by the web, but not yet fully realized, so we are very excited to connect Hypothesis and JSTOR and to accelerate the beneficial use of annotation by faculty and students around the world.”
“Few organizations are as aligned with our mission and philosophy as ITHAKA,” said Dan Whaley, CEO and Founder of Anno. “Their more than 25-year history of growing and managing the world’s most essential knowledge resources, their focus on impact, and their focus on student learning and achievement is unique. We are thrilled to cross the next step in our development with them.”
About the author: Rhea Kelly is editor-in-chief of Campus Technology. She can be reached at [email protected].