Engrade, a US-based education platform that integrates district-wide systems, has raised $5m in series B funding led by venture capital firm Javelin Venture Partners, and including venture capital firm Rethink Education (which led the company’s $3m series A round in January 2012), Samsung Venture Investment Corporation (venture capital division of South Korean conglomerate Samsung), Kapor Capital, Expansion Capital and Ed-Mentor.
With Samsung Venture Investment Corporation’s investment, Engrade declares that it anticipates business collaboration and partnership opportunities with Samsung.
Jed Katz of Javelin Venture Partners said: “It is time for schools and districts to have a true platform, not a jumbled collection of tools that keep vital data locked up in separate silos. Teachers, administrators, students, and parents are now able to see in one place the full story of an individual’s academic performance and learning needs.”
Zach Posner, chief executive officer of Engrade, said: “We are thrilled to work with a group of investors composed of innovative thinkers and experienced leaders who will make excellent partners in reshaping the future of education. We are defining a new product category in the education market that provides school districts with a system to use the right content with the right student at the right time to accelerate academic achievement.”