Top Hat Monocle Raises $1.1 Million As A Follow-On Series A Round
Top Hat Monocle is a Toronto-based education technology company that raised $8 million in Series A funding. Top Hat Monocle’s technology turns a student’s laptop or smartphone into classroom tools. Top Hat has raised $1.1 million as part of a follow-on investment from Felicis Ventures.
Top Hat COO Andrew D’Souza said that the company did not need the money. However Top Hat knew that Felicis has experience with education startups since they have invested in companies like Inkling and Piazza.
“They know the space really well and mobile is a big focus for them as well,” stated D’Souza. “We heard their vision for what higher education will look and we share a similar vision.”
Often times, students are given “clickers” in the classroom. The clickers are used by students to answer questions during class. Top Hat’s technology makes it possible for smartphones, tablets, and laptops to do the job. Using Top Hat’s software, teachers can make competitions and contests.
In the last 6 months, Top Hat’s team went from 20 employees to 70. The company also doubled the number of colleges to 285. Around 90% of the colleges are in North America.