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Education tech-focused New Schools Seed Fund closes on $12m target

20 Feb 2014

school busHigh-impact education technology-focused New Schools Seed Fund has hit its $12m target.

The fund is one of the most active investors in US education technology, having seeded a quarter of all new investments in the space last year.

It has also partnered with investors such as Accel Partners, Relay Ventures and Kapor Capital for co-investments, and has the target of supporting 55 education technology ventures by the end of 2015.

NewSchools managing director Jennifer Carolan said, “We started Seed Fund to help bring the best technologies to teachers and schools.

“Educators and students deserve the same incredible innovation and entrepreneurial talent the consumer web is commanding, and that requires capital. Our portfolio represents the best in class.”

She added, “More than half of our portfolio entrepreneurs are former teachers who are building solutions to a problem they experienced while teaching.

“Teachers favorites like Socrative, Newsela, Curriculet, Goalbook and ClassDojo are led by former practitioners who join forces with strong technical talent.

“These hybrid founding teams can uniquely meet the needs of this underserved but critically important market.”

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