TeachersPayTeachers Gets VC Funding


TeachersPayTeachers Gets VC Funding

May 22, 2014

INVESTORS PAY TEACHERSPAYTEACHERS: TeachersPayTeachers (TpT), a popular online marketplace for teacher-created materials, has raised an undisclosed round from several big-name investors. According to TpT founder Paul Edelman, who shared this announcement in the company blog:

The group is led by Vic Parker and Steve LeSieur from Spectrum Equity, who are investors in other educational companies such as Lynda.com, ExamSoft, and Finalsite; Lee Fixel from Tiger Global, who has invested in companies including Facebook, LinkedIn, and Warby Parker; and Jon Callaghan from True Ventures, who are investors in Socrative, Fitbit, Always Prepped.

Judging by the portfolio of these investors, it's a good bet that the round is a significant sum. Adam Freed, former COO of Etsy (another popular online marketplace), will join TpT's Board of Directors, which includes Edelman and John Yoo (current CEO).

Edelman, a former NYC Public School teacher, founded TpT in April 2006. It was acquired by Scholastic in January 2007, but Edelman re-purchased it in March 2009. Since then the online marketplace made headlines when teachers like Deanna Jump topped $1 million in sales. The platform currently has over 3 million teacher users, according to Edelman.

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