Flashnotes.com, headquartered in Boston, Massachusetts, allows college students to sell and buy course-specific study materials such as study guides, notes, flashcards, video tutorials and live video help. Its enables college students to make money from their own study material while helping other students study smarter to get better grades.
Stage 1 Ventures led this funding stage with participation from Runa Capital, SoftBank Capital and Atlas Venture. The $3.6m adds to the previous $3.3m raised through two seed rounds.
Michael Matousek, chief executive and founder of Flashnotes.com said, “Our entire team is excited to have such great partners supporting our mission to empower students and ensure that more students achieve their academic objectives. With the college dropout rate remaining steady at over 40%, there is clear need for change within higher education. We believe that Flashnotes.com is a transformative force within the industry, as we’re leveraging the latest technologies to power the student-to-student exchange of high quality academic materials – allowing students to learn from each other in a way that is fitting for them.”
The investment funds will be used for rapid market expansion.