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In this edtech funding news roundup we take a look at ClusterFlunk which raised $1 million from Lightbank and Built in Iowa for its online community for college students. Regent Education raised $9 million for its financial aid and enrollment optimization SaaS platform. Last but not least, Ellevation Education raised $2 million for its web-based software solutions for the ELL classroom.
Online Community for College Students ClusterFlunk raises $1 million
ClusterFlunk, an online community platform for college students, raised $1 million led by Lightbank and Built in Iowa reports Silicon Prairie News. The startup will also open an office in Chicago housed within Lightbank’s downtown space.
Launched in January 2013 by University of Iowa students AJ Nelson and Joe Dallago, ClusterFlunk is currently available at more than 50 universities. The platform aims to connect students outside of the lecture hall by offering features like instant messaging, file uploading and note sharing to share questions and study tips.
ClusterFlunk raised a $100k Seed Round in July 2013 from a group of angel investors. Lightbank is also an investor in Udemy.
- ClusterFlunk raises $1M round led by Lightbank, opens Chicago office | Silicon Prairie News
- Lightbank Leads $1M Round for clusterFlunk’s ‘Blackboard Meets Facebook Meets Craigslist’ Platform | ChicagoInno
- Lightbank makes first Iowa investment | Crain’s Blog
- ClusterFlunk closes $100K seed round, looks to expand team | Silicon Prairie News
Higher Ed SaaS Provider Regent Education raises $9 million
Regent Education, a SaaS provider for financial aid management and enrollment optimization solutions for the higher education market, raised $9 million in venture funding and debt financing.
The $4 million Series C was raised from New Markets Venture Partners and existing investor Chrysalis Ventures, Ares Capital Corporation provided $5 million of debt financing.
Regent 8, the company’s financial aid management system, enables institutions to offer a variety of enrollment models such as non-term, self-paced and competency-based education. According to Randy Jones, CEO of Regent Education, the company’s recurring revenue base has grown more than 300% in the last two years.
- Regent Education Raises $9 Million to Expand Sales and Support of Financial Aid Management Solutions | Press Release
- Chrysalis Ventures increases stake in Maryland company | Louisville Business First
ELL Software Platform Ellevation Education raises $2 million
Ellevation Education, a software platform for the English Language Learner vertical, has raised $2 million from NewSchools Venture Fund and a group of individual investors reports EdSurge.
Ellevation Education offers English instructors a set of tools for the classroom including goal planning, reports, and data dashboards to track levels and progress of the students. The product is currently used by 450.000 English students in 260 US school districts. With the new funding, Ellevation Education plans to add new tools to further personalize content for the students as well as giving instructors and districts a better overview about the performance.
- Ellevation Education Adds $2M to Expand ELL Tools | EdSurge