LightSail Education Scores $3.5M in Series A Funding

LIGHTSAIL: $3.5 million to NYC-based LightSail Education in a Series A round led by Ricardo A. Sagrera (Viceroy Ventures), with Joel Greenblatt (Gotham Capital), Dan Nir (Sargent Capital) and others participating. More details in the release. This is a quick follow-up to the $1 million seed round we reported back in July 2013. LightSail offers a tablet-based library of over 18,000 e-books embedded with assessments and analytics that track students' literacy levels. The Wall Street Journal reports that schools pay $75 per student per year for the service. Founded in 2012, the startup has been sailing the high seas this summer: It won a $500K grant from the Gates Literacy Courseware Challenge and took first place in the SXSW V2V competition.

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