In this week’s edtech funding roundup we take a look at the hugely successful crowdfunding campaign for Reading Rainbow which brought in over $5 million from more than 91.000 backers.
In classic funding news we got a $600k seed round for student housing startup Comfy, $3 million for data management solution provider STI and $9.7 million for Galvanize Ventures, the investment arm of co-working and learning space Galvanize.
This week two education projects serving underprivileged children in India received funding. Hippocampus which operates 128 learning centers raised $2.4 million and Sudiksha Knowledge Solutions received $50k from the Pearson Affordable Learning Fund for its pre-schools in Hyderabad.
As announced last week, education startups Top Hat and Boundless have formed a partnership. As part of this partnership Top Hat will integrate content from Boundless including textbook chapters, PowerPoint slides, discussion questions and interactive exercises into its cloud based teaching platform for higher education.
Through the integration more than 300,000 students at more than 400 universities including Harvard, UCLA, Duke and MIT will gain access to the Boundless’ library of 21 introductory college-level subjects.
In May Top Hat announced a $10 million Series B and its expansion plans in other verticals including corporate training.
We took this latest announcement as an opportunity to catch up with Top Hat’s co-founder and CEO Mike Silagadze to talk about the future of free content, acquiring competitors and the startup’s expansion plans.
In today’s EdTech Funding News we have two seed rounds with Myagi raising $500k AUD for an online training portal and TeachBoost raising $1.5 million for teacher assessment.
In the Series A range we have Bulb raising $1 million for a publishing and portfolio service. $1.7 million in follow-on funding goes to StudyBlue for its collaborative learning portal.
Yik Yak, an anonymous local messaging app for college and university students, raised a $10 million Series A led by DCM with participation of Azure Capital Partners, Renren Inc. and Tim Draper. Alan Masarek, co-founder and former CEO of Quickoffice, and David Chao of DCM, join Yik Yak’s board of directors.
The startup previously raised a $1.5 million Seed Round from Vaizra Investments, DCM, Azure Capital Partners and several other angels in April.
Coursmos, a learning platform offering micro-learning courses for the “generation distracted”, raises $530k from Russian VC Imperius Group and an undisclosed angel investor. The startup previously raised $310k from Happy Farm Business Incubator and a group of angels.
Fingerprint, a mobile app network for children, announced that it has raised a $10.85 million Series B from Reed Elsevier, Corus Entertainment and Dreamworks.
Fingerprint previously raised $7.75 million led by Corus in August 2012 which brings the total funding raised to more than $20 million.
One Month, a startup that aims to teach learners new digital skills in 30 days, has raised a $770k Seed Round from investors including Winklevoss Capital, Innovation Works, Andreessen Horowitz, General Catalyst, Start Fund, Oliver Jung, Lew Moorman, Y Combinator, FundersClub, and crowdfunding platform WeFunder.
One Month also took part in the Y Combinator 2013 Summer batch where it had received an initial $14k in seed investment.
Schoology, a learning management solution which provides a collaborative learning environment, has raised a $15 million venture round led by Intel Capital with participation of new investors Great Oaks Venture Capital and Great Road Holdings and existing investors FirstMark Capital and Meakem Becker Venture Capital. Intel Capital’s Sumeet Jain will join Schoology’s Board of Directors.
The round brings Schoology’s total capital raised to $25 million.
MasteryConnect which provides teachers with a suite of assessment products acquired Socrative, a startup that creates tools for classroom engagement, for $5 million in cash and stock.
Both startups took part in the imagine K12 incubator program and have NewSchools Venture Fund as their investor. MasteryConnect raised $9 million to date, Socrative $760k.