September 5, 2014
Crain’s Chicago Business reported that GetSet raised $2.5 million in seed funding this week led by KGC Capital. Other participants in the round include Chicago Ventures, the Social+Capital Partnership, Howard Tullman’s G2T3V fund, as well as the founders of Braintree, Fieldglass, and Flutter. The news comes at a time when colleges across the nation are beginning the school year, with Arizona State University using the company’s psych-based social productivity tool as GetSet’s first paying customer.
Based in Chicago, Illinois with headquarters in the East Loop, GetSet offers college students an online platform that enables users to create a peer support network to help them with a variety of issues – whether personal or academic. Through GetSet, college students get to share their stories and experiences to provide valuable knowledge and support to other college students online. It’s pretty similar to the way users pose questions or respond to queries on Quora, except through GetSet, you’ll have the opportunity and flexibility to connect directly with those people on your college campus.
The startup is the second from Karan Goel, who cofounded the test-preparation company PrepMe, which got acquired by Ascend Learning and Naviance in mid-2011. According to a piece published in EdSurge, Goel points out that while dropout rates are a big concern in higher ed, academics aren’t the only piece of the puzzle – there are simply way too many other factors about college life that can contribute to a student dropping out. GetSet was created to give students an opportunity to reach out to other students on their campus that may have experienced or are experiencing similar issues.
GetSet currently has a team of nine employees, but will likely grow in the upcoming months with this funding. ASU is the company’s first client, but the platform was also previously tested over the summer with students at Depaul University, Columbia College Chicago, and the City Colleges of Chicago.
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