Total amount raised
$41.5 Millions
Latest funding date
8/1/2023
Location
Fizz has successfully raised significant funding over multiple rounds, attracting notable investors such as Green Sands Equity and Owl Ventures. The platform serves as a private discussion forum and news feed for schools, offering features like direct messages, polls, and photos.
Keep reading to explore the intricacies of Fizz's fundraising journey and the investors backing this innovative platform.
What Is Fizz?
Founded in 2020, Fizz is a social platform based in Palo Alto, California, designed to serve as a private discussion forum and news feed for schools. The platform includes features like direct messages, polls, and photos, emphasizing community-based moderation.
Fizz was created by Ashton Cofer and Teddy Solomon, who envisioned a secure and authentic space for school communities to connect and share information. The company has grown to employ between 11 and 50 people, reflecting its expanding influence in the educational sector.
With its innovative approach, Fizz aims to provide a welcoming and engaging environment for students, fostering communication and collaboration within school communities.
How Much Funding Has Fizz Raised?
- Seed Round
- Amount Raised: $4.5M
- Date: October 2022
- Lead Investors: Rakesh Mathur
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Series A
- Amount Raised: $12M
- Date: November 2022
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its features.
- Series B
- Amount Raised: $25M
- Date: August 2023
- Lead Investors: Owl Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand to more colleges, enhance the app, and grow the team.
Total Amount Raised: $41.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Owl Ventures
- Details: Owl Ventures is a venture capital firm that invests in education technology companies. The firm focuses on early, growth, and late-stage investments in companies that are transforming the education landscape.
- Investment Focus Areas: Education technology, K-12, higher education, lifelong learning.
- Notable Investments: Byju's, Quizlet, MasterClass.
- New Enterprise Associates (NEA)
- Details: New Enterprise Associates (NEA) is a global venture capital firm that invests in technology and healthcare companies at all stages of growth. NEA focuses on helping entrepreneurs build transformational businesses across multiple sectors.
- Investment Focus Areas: Technology, healthcare, early-stage startups, mature businesses.
- Notable Investments: Coursera, Duolingo, 23andMe.
- Rakesh Mathur
- Details: Rakesh Mathur is an individual investor known for his involvement in various technology startups. He has a background in founding and leading tech companies and is recognized for his strategic investments in innovative ventures.
- Investment Focus Areas: Technology startups, innovative ventures, market disruptors.
- Notable Investments: Not publicly disclosed.
What's Next for Fizz?
Fizz is poised to capitalize on the growing demand for authentic, community-centric social media experiences. With plans to expand to hundreds more college campuses, the platform's potential is vast. The addition of new features tailored to user feedback and the hiring of talented engineers will further enhance its appeal.
As Fizz scales, future fundraising rounds seem likely to support its ambitious growth. However, challenges such as maintaining user engagement and competing with established social media giants will test the company's resilience. Ensuring the platform remains a safe and positive space will be crucial as the user base expands.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Fizz and gather other critical business insights. Sign up for free today and elevate your sales strategy with the power of detailed, actionable information.
