Minnesota-based edtech startup Naiku has raised $1.01 million from Gopher Business Angels for its student assessment technology reports Minneapolis/St. Paul Business Journal.
Atlas Capital Partners led the funding round with other Gopher Angels participating as well as Iowa-based Plains Angels.
The new funding will be used to grow grow the team and to expand US-wide.
Founded in 2010 by Corey Thompson and Adisack Nhouyvanisvong, Naiku sells its technology to K-12 schools and helps teachers monitor student progress on an individual basis. Students answer questions either on a smartphone, laptop or tablet device. The apps are available on both iOS and Android. Naiku creates individual student profiles by applying data mining algorithms to assessment data. Based on this the software recommends personalized learning playlists of learning activities for each student.
On the other hand Naiku also features a professional social network for teachers where they get access to relevant and actionable information and can collaborate with fellow educators. Through the network Naiku aims to insure the success of an intervention and help teachers to better address the individual needs of students.
Naiku raised $320k in Angel funding from Minnesota business angels and the startup was also part of the 2011 class of Project Skyway, Minnesota’s first tech accelerator. For the 12-week-program each founder receives $6,000, the accelerator, in exchange, takes 9% in common stock.
To get a detailed overview of how Naiku’s mobile apps work, watch the EDUKWEST interview with the startup’s co-founder Corey Thompson.
- Education-tech startup Naiku raises $1M from Gopher Angels | Business Journal
- Naiku raises $320k from multiple Minnesota angel investors | Tech.mn
- EDUKWEST #67 with Corey Thompson of Naiku | EDUKWEST