Venture Capital Roundup: Tutoring Startups Lead Latest Funding Rounds

By guest blogger Kevin Connors

Though the year is over for many students across the country, it is just beginning for these ed-tech companies. From mobile health records to the promise of a higher SAT score, here are your venture capital highlights:K-12_Dealmaking.gif

CareDox: New York City-based CareDox, raised $900,000, according to an SEC filing, to bring their mobile medical record system to more parents and schools throughout the country. Instead of filling out the same forms each year, CareDox aims to provide easier access to medical information by storing student data—such as immunization records, medical history, allergies, medications, and special dietary needs—in their online and mobile-enabled database. The company has raised a total of $4.9 million to date, with Band of Angels, Charles River Ventures, First Round Capital, and Giza Ventures investing.

Boost Academy: San Diego-based Boost Academy is looking to shake up the $13 billion U.S. tutoring market, and the ed-tech startup just raised another $600,000 for that effort. The company is the developer of an interactive, one-on-one math tutoring platform for the iPad, and the funds will be used to expand its product launch for middle and high school students ahead of the upcoming school year. According to CrunchBase, the company has raised nearly $1 million over three seed rounds and is now working toward securing a major round of venture capital from institutional investors. Tom Ladt led this latest round.

Edrolo: The Australia-based startup provides online test prep for the SAT and recently raised just over $2 million from AirTree Ventures and Blackbird Ventures. Edrolo, which guarantees at least a 240-point score increase, uses interactive video tutoring and online testing software to track and train students preparing for the college entrance exam. The company says that their software is currently used in 120 schools in New South Wales and Victoria, Australia, and has 20,000 registered students. In addition to other revenue streams, schools pay a $25 subscription fee per student, per subject. The company launched in 2012 and raised an initial $1.25 million in seed funding.

Pearson and Listen Current: Worldwide education publisher Pearson has partnered with Listen Current, a subscription-based website that curates public radio stories relevant to science, social studies, and English/language arts classrooms. In February we covered Listen Current’s near $1 million venture capital round, and now it appears that the Boston-based startup has struck another promising deal. According to the statement, Pearson Literature, the publisher’s English Language Arts curriculum for grades 6-8, will now feature Listen Current stories that help students connect topics in class to the real world. Financial details of the deal were not disclosed.

For more news on mergers, acquisitions, and venture capital in education, follow Marketplace K-12’s “K-12 Dealmaking” series.  

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