While you might think a good idea can pay for itself, funding is an important thing to consider before starting a business. And while you might think a small ecosystem can provide you with the support you need, nothing can help you more than the overabundance of capital cycling through New York. And if you don't think edtech is the right business to get this kind of funding in the Big Apple, there are twelve startups that have proven otherwise.
Thanks to the Alleywatch (with some help from Crunchbase), the top twelve edtech funding rounds of 2016 have been established in New York. Check out the startups below and find out what makes an edtech startup great:
CareDox – $2.8 Million
CareDox delivers free health technology for K-12 public schools. We help school nurses deliver care and keep students safe. They raised their seed round from Prolog Ventures (lead), TEXO Ventures, Giza Venture Capital, and First Round Capital.
Noodle Markets – $3 Million
Noodle Markets is K-12's first digital procurement platform and national marketplace. They raised this seed round from Rethink Education.
CourseHorse – $4 Million
CourseHorse allows people to find, compare and enroll in established local classes in New York City, Los Angeles, and Chicago. They raised this Series B round from Red Ventures, Interplay Ventures, Learn Capital, and a number of individual investors.
Noodle Partners – $4 Million
Noodle Partners offers colleges and universities help setting up an online degree program, instructional design for courses within the program, recruiting, tech support, and measuring student engagement along the way to course completion. This seed round was raised from Osage Venture Partners, 500 Startups, and New Markets Venture Partners.
Bookwitty – $10 Million
Bookwitty has created the most comprehensive experience to discover books that users will love. Their extensive catalogue and personalized recommendations help customers learn about titles that match their interests, and match them with publishers and booksellers that have them available for sale. They raised this Series B round from Leap Ventures.
Knewton – $10 Million
Knewton is the world’s leading adaptive learning technology provider with the mission of bringing personalized education to the world. This Series F round was raised from Atomico, Sofina, Founders Fund, FirstMark Capital, TAL Education Group, Bessemer Venture Partners, Accele Venture Partners, and EDB Investments.
LightSail Education – $11 Million
LightSail Education is the only literacy accelerator that combines all of the best books with in-text embedded assessments and real-time, actionable data to deliver industry-leading literacy gains. They raised this Series B round from Bezos Family Foundation and Scott Cook.
Speakaboos – $12.5 Million
Speakaboos is a digital storybook platform that motivates children to read and explore stories they love based on their interests. They raised this Series B round from GSV Acceleration, Advancit Capital, Wellington Management, and a number of individual investors.
Brainly – $15 Million
Brainly is the world's largest social learning network. It enables its users to help each other with school work problems. They raised this Series B round from Naspers.
Codecacademy – $30 Million
Codecademy is a free web- and mobile-based platform that teaches employable digital skills to millions of users worldwide. This Series C round was raised from Naspers, Flybridge Capital Partners, Union Square Ventures, Index Ventures, and Richard Branson.
Grovo – $40 Million
Grovo combines beautiful technology, engaging content, and hands-on advisory support to deliver a better way to learn at work. The heart of Grovo’s approach is micro-learning, bite-sized video lessons, exercises and real-world practice delivered in the right way, at the right time. They raised this Series C round from Greg Waldorf, SoftTech VC, Accel Partners, Costanoa Ventures, and Vayner/RSE.
Matific – $45 Million
Matific takes a unique approach to teaching K to 6 math using hands-on and interactive mini-games, called episodes. These immersive bite-sized apps for tablets and personal computers are based on a modular and progressive spiral learning system. They raised this Series B round from Leon Kamenev.