Engrade is a Santa Monica, California based startup that has raised $5 million in Series B funding led by Javelin Venture Partners and existing investor Rethink Education participated in this round. Other investors that were a part of the Series B includes Samsung Venture Investment Corporation, Kapor Capital, Expansion Capital, and Ed-Mentor. Engrade previously raised $3 million in funding.
Engrade started in 2003 as an online grade book service. The company offers teachers a way to track attendance, create quizzes, and handle classroom management tasks. Engrade doubled their staff to meet an increase in demand from school systems around the country.
?We are thrilled to work with a group of investors composed of innovative thinkers and experienced leaders who will make excellent partners in reshaping the future of education,? stated Engrade CEO Zach Posner. ?We are defining a new product category in the education market that provides school districts with a system to use the right content with the right student at the right time to accelerate academic achievement.?