Open Web Annotation Tool Hypothesis Forms Public Benefit Corporation, Garners $2.5M Investment from ITHAKA

Hypothesis, maker 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 enable it to pursue the funding needed to scale the service, the company said in a news announcement. The new corporation, Anno, has received $14 million in seed round funding that includes a $2.5 million investment from ITHAKA, the nonprofit provider of the JSTOR digital library.

Hypothesis accounts will remain free for individual users, and the tool will continue to be available as a fee-based enterprise service for colleges and universities. The service boasts 1 million users globally and more than 200 institutional customers.

Together, Anno and ITHAKA are launching a pilot project that will allow faculty and students at a select number of colleges and universities to use Hypothesis to annotate the scholarly content on JSTOR from within their learning management systems. Eventually, the plan is to enable all JSTOR users to easily use Hypothesis for annotation both inside and outside of 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 statement. "Engaging students in their learning through annotation and social reading is a compelling capability made possible by the web, yet to be fully realized. We are therefore very excited to connect Hypothesis and JSTOR and accelerate the beneficial use of annotation by faculty and students all over the world."

"There are few organizations that are as aligned with our mission and ethos as ITHAKA," said Dan Whaley, CEO and founder of Anno. "Their history over 25 years in growing and stewarding the world's most essential knowledge resources, their impact orientation, and their focus on learning and student success are unique. We're thrilled to be taking the next step in our development with them."

About the Author

Rhea Kelly is editor in chief for Campus Technology, THE Journal, and Spaces4Learning. She can be reached at [email protected].

Featured

  • abstract pattern of shapes, arrows and circuit lines

    Internet2 Announces a New President and CEO to Step Up in October

    Internet2, the member-driven nonprofit offering advanced network technology services and cyberinfrastructure to the research and education community has completed its search, which began this past May, for a new president and CEO to take the helm.

  • shield with an AI microchip emblem hovering above stacks of gold coins

    AI Security Spend Surges While Traditional Security Budgets Shrink

    A new Thales report reveals that while enterprises are pouring resources into AI-specific protections, only 8% are encrypting the majority of their sensitive cloud data — leaving critical assets exposed even as AI-driven threats escalate and traditional security budgets shrink.

  • stack of gold coins disintegrates into digital particles against a dark circuit-board background with glowing AI imagery

    MIT Report: Most Organizations See No Business Return on Gen AI Investments

    A recent report out of the MIT Media Lab found that despite $30-40 billion in enterprise spending on generative AI, 95% of organizations are seeing no business return.

  • young man in a denim jacket scans his phone at a card reader outside a modern glass building

    Colleges Roll Out Mobile Credential Technology

    Allegion US has announced a partnership with Florida Institute of Technology (FIT) and Denison College, in conjunction with Transact + CBORD, to install mobile credential technologies campuswide. Implementing Mobile Student ID into Apple Wallet and Google Wallet will allow students access to campus facilities, amenities, and residence halls using just their phones.