If an edtech startup disappears and nobody notices, did it ever exist? Luvo, formerly Flashnotes, seems to have gone into hibernation, or possibly full shutdown. When you are visiting the website these days, all you see is a wooden texture and a “Thank you from Luvo” note in the browser tab.
Class notes and peer learning community Course Hero has raised a $15 million Series A led by GSV Capital Corp. and IDG Capital, with participation of existing investors SV Angel and Maveron.
GSV Capital is one of the most active investors in education technology counting startups like 2U, Coursera, Declara, Knewton, General Assembly, Parchment, Dreambox Learning to its portfolio. IDG Capital recently invested in a $15 million Series C of Chinese test preparation platform Yuantiku.
Class notes or study notes marketplaces really are a fascinating vertical within the education technology startup space. Of course, most of these ventures are too small to be called a startup. They are more of what is called a buddy business where two or three friends come together with the right skills and create a small business that pays enough for beer and parties. Most of these ventures die as soon as the buddies find a real job or are simply too busy to keep the service up and running.
Flashnotes, a Boston-based marketplace for class notes acquired its competitor Moolaguides for an undisclosed amount. This is the second acquisition of a competitor by Flashnotes within twelve months.
Flashnotes raised a $3.6 million Series A from Stage 1 Ventures, Runa Capital, SoftBank Capital and Atlas Ventures in early February.