OFF AND RUNNING: Kaplan EdTech Accelerator is now accepting applications for its 2014 class--and the ten startups selected this time will get a little bonus. TechStars will invest $20K in each company in return for 6% equity (a fairly standard term). They will also each receive from Kaplan a $150K convertible debt note--up from $100K last year. Applications are due May 5 for the program which will run from July 25 to October 22. Accepted companies will be announced around June 18. All the details here.
The accelerator's first batch seem to be faring well when it comes to attracting users and funding, based on the latest updates:
- Verifcient Technologies has raised $1.75M as a convertible note
- Degreed has raised a $1.8M seed round, hired COO Chris McCarthy (who was previously at Chegg) and grown its team from 6 to 10 since the program ended
- Flinja has signed up to date about 8,000 customers and 150,000 students, closed on $1M, and was invited to present at Europe’s biggest tech conference, Le Web, where it placed in the Top 3. (Flinja was the only U.S. company participating and the first U.S. company to ever place in the Top 3.)
- Modern Guild closed a $730K round in December, reached 400 student graduates, signed up three new high schools, and now has more than 50 career coaches and over 300 industry mentors on staff
- panOpen just announced a $500K round, bringing the total raised to date to $750K
- Newsela says over 10,000 teachers and students are registering every day from all 50 states and has been used in 192 countries from Rwanda to Mexico.
- Ranku has raised $500K from Mark Cuban and an additional $650K from Microsoft Ventures.