Edtech Business

FINANCING

Kaching! News of who is getting funded, who is doing the funding and trends in financing education technology companies


UNICAF Receives $12 Million to Provide Online University Degrees in Africa
UNICAF, an online university degree company, today announced it has received a combined $12 million from investors University Ventures, CDC Group and Savannah Fund, an early stage venture capital firm based in Nairobi, Kenya. Founded in 2012, UNICAF seeks to make quality higher education and university degrees more affordable for working professionals in Africa...
Student Career Network Handshake Raises $20 Million in Series B Funding
SHAKE ON IT: A liaison for students and their job prospects, Handshake today announced that it has raised $20 million led by Spark Capital in a Series B funding round. Founded in 2013, the San Francisco-based company offers university career centers a platform where employers and students can connect and share information...
Firefly Scores $5.6 Million to Further Online Learning Tools for Schools
SO FLY: Education technology startup Firefly has raised $5.6 million (£4.5 million) in a Series A round led by BGF Ventures, which contributed of $3.7 million (£3 million), and Beringea, The Tech Portal reports. The London-based company says the money will be used to further develop their product—an online tool that lets teachers track, mark and share resources with students and parents—and double the size of its now 50-person staff...
PowerMyLearning Receives $1-2 Million to Expand Staff, Digital Progams
POWER HOUR: National education nonprofit PowerMyLearning has received a four-year grant from the Chan Zuckerberg Initiative. The exact amount was undisclosed but within the $1-2 million range, according to a spokesperson. According to the press release, PowerMyLearning will use the funds to staff and offer new digital programs that support teachers, students and families at schools in low-income and underserved communities around the San Francisco Bay Area...
Chinese Startup Knowbox Nabs $15 Million in Series B For Homework Helping Apps
KNOWBOX, a mobile app startup that helps teachers and students manage their homework, recently secured $15 million in a Series B round from Beijing- and Hong-Kong-based investment firm Genesis Capital, China Money Network (CMN) reports. Operating out of Beijing, the education company also received support from existing investor Legend Star, valuing the company at nearly $100 million...
New Funding Opportunities Target Small Businesses, VR and Edtech
THE FUND-ZONE: Two funding opportunities coming up from Uncle Sam. First, the U.S. Department of Education announced it will begin soliciting for its 2017 Small Business Innovation Research Program (SBIR), which offers grant funding for edtech products and research, around November 21, 2016...
Jefferson Education Accelerator Invests in Formative as Research Partner
FORMATIVE STAGE: The Jefferson Education Accelerator (JEA), which invests up to $2 million in startups and helps them conduct efficacy research, announced its latest partner in Formative, a tool that lets teachers create, distribute and give feedback on assignments and exercises. Founded by graduate students at the UCLA, the Los Angeles-based startup claims usage in more than one-third of U...
Indonesian Startup HarukaEDU Raises $2.2 Million to Universities Offer Online Programs
HARUKAEDU, an Indonesian startup behind a platform that helps universities create online classes and degree-granting programs, has raised $2.2 million from the Pearson Affordable Learning Fund, Semator Education and existing investor CyberAgent Ventures, reports Tech in Asia. Founded in 2013, HarukaEdu is a graduate of Google Developers Launchpad Accelerator, which offers seed funding to startups across the world...

CollegeVine Grows With $3.1 Million
COLLEGEVINE, a Cambridge, Mass.-based platform to connect high school students to mentors at colleges and universities, has raised $3.1 in a Series A round. Morningside Technology Ventures led the round and University Ventures also participated. CollegeVine, formerly Admissions Hero, matches high schoolers with college students who work with them 1:1 for a year to help with the college application process...

Finnish Startup Mightifier Raises $250K to Help Kids Master Social Emotional Skills
MASTER YOUR EMOTIONS: Mightifier, a Finnish developer of an app that helps kids develop social-emotional skills, has raised $250K from investors that include xEdu (a Helsinki-based edtech accelerator), Courage Ventures Seed 1, and a trio of Finnish angels. The tool, currently piloting in Chicago and Silicon Valley schools, aims to teach and encourage students to deliver positive feedback with their peers, and offers teachers a dashboard to track these interactions...