Money for Edtech Investment Keeps Flowing Through Pandemic
While the realities of daily life continue in surreal quarantine for most of us, the business of edtech financing still seems to continue apace from the offices of investors around the world.
Degree Analytics, provider of a university analytics platform that improves student experience and on-time graduation rates by providing timely insights and automated personal attention, announced its $2.57MM Series A last month. Degree Analytics has grown rapidly since it was incubated in the Austin, Texas Capital Factory accelerator in December of 2016, and is already deployed at more than 20 higher education institutions serving over 200,000 students across the United States.
“I feel fortunate that our young company has proven itself by delivering enough real value to colleges and universities to gain the confidence of investors in these unsettling and unpredictable times. It is a tribute to the hard work and dedication of our team, collaboration with our clients and support of our business partners ” said Aaron Benz, founder, and CEO of Degree Analytics.
The company will use the funds to develop new solutions, enhance its analytics platform, and expand its domestic presence. “While our original use case of automated attendance-taking continues to deliver great value, we’re even more excited about innovative ways customers are using our platform, including protecting Title IV tuition funds, optimizing facility usage, and encouraging student success through nudges and counselor interventions. Both as universities right now are mostly shut down and when they anticipate resuming after COVID-19 campus shutdowns, we can help them maintain health and safety by knowing who is still using their campus,” says Benz.
Boston’s LearnLaunch Accelerator announced the five edtech companies selected for investment and participation in its next program. These startups are building solutions particularly relevant to the current learning and work environment: remote team training, peer assessments, digital music education, gamified learning, and tools to bridge education, employment, and lifelong learning.
“As the world changes rapidly in response to COVID-19, traditional education delivery is changing precipitously,” said Jean Hammond, General Partner at LearnLaunch Accelerator. “We’ve been talking about ‘the future of education’ for too long and now the future is here. Unfortunately, education systems are underprepared. Technology can, eventually, aid in the delivery and communication for every learner — the gaps are more apparent now than ever before. This cohort features companies supporting this physical to digital transition across k-12, higher ed, and workforce.”
In India, Ahmedabad-based edtech startup Pedagogy announced it has raised $400,000 in funding, led by Inflection Point Ventures (IPV). Started by co-founders Archin Shah, Abhilash Sonwane, and Ritesh Gandhi in 2015, Pedagogy is transforming the way students purchase and consume books while preparing for engineering and medical entrance examinations. Amidst COVID-19, the startup has managed to adapt facilitating book distribution for publishers and helped make coaching classes ready for the eventuality of hybrid learning system. Abhinav Singhvi, an IPV investor, said, “Pedagogy not only makes education more accessible but also provides enough ammunition to students that can help them succeed. The education system is evolving from averages to edges and Pedagogy’s solution to consolidate the fragmented education market with personalized content is a driver for students’ success.”
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