Total amount raised
$8 Millions
Latest funding date
02/01/2015
Location
Title
NoRedInk has successfully raised significant funding over multiple rounds, attracting attention from prominent investors. The platform is dedicated to enhancing students' writing skills through innovative educational tools.
Continue reading to delve into the details of NoRedInk's fundraising journey and the key investors supporting this impactful educational platform.
What Is NoRedInk?
NoRedInk, founded in 2012 by Jeff Scheur, is an educational technology company based in San Francisco, California. The platform is designed to improve students' writing skills through adaptive learning and personalized content.
With a focus on Grades 3–12, NoRedInk offers a comprehensive writing platform that engages students through writing cycles incorporating modeling, scaffolding, practice, and feedback. The platform also features AI-powered grading and originality insights to assist teachers.
As of the latest information, NoRedInk employs between 50 to 100 people, dedicated to unlocking every writer's potential and enhancing the educational experience for students and teachers alike.
How Much Funding Has NoRedInk Raised?
- Seed Round
- Amount Raised: $2 million
- Date: August 2013
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach more students.
- Series A
- Amount Raised: $6 million
- Date: April 2015
- Lead Investors: True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and scale operations.
- Series B
- Amount Raised: $20 million
- Date: August 2021
- Lead Investors: Susquehanna Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate AI-powered grading and expand market presence.
NoRedInk has raised a total of $28 million. The current valuation is not publicly disclosed.
Key Investors
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. It provides seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Life sciences, artificial intelligence, robotics, transportation, cybersecurity.
- Notable Investments: Uber, Slack, Nest.
- True Ventures
- Details: True Ventures is a venture capital firm that invests in early-stage technology startups. The firm is known for its founder-friendly approach and strong community support.
- Investment Focus Areas: Consumer technology, enterprise software, health and wellness.
- Notable Investments: Fitbit, Automattic (WordPress), Blue Bottle Coffee.
- Susquehanna Growth Equity
- Details: Susquehanna Growth Equity is a private equity and venture capital firm that focuses on growth-stage technology companies. The firm is part of the Susquehanna International Group.
- Investment Focus Areas: Financial technology, software, internet.
- Notable Investments: Credit Karma, Payoneer, iCIMS.
- Shasta Ventures
- Details: Shasta Ventures is a venture capital firm that invests in early-stage companies. The firm focuses on building long-term partnerships with entrepreneurs.
- Investment Focus Areas: Enterprise software, consumer technology, healthcare.
- Notable Investments: Anaplan, Nextdoor, Zuora.
- Rethink Education
- Details: Rethink Education is a venture capital firm that invests in early and growth-stage education technology companies. The firm aims to transform education through innovative solutions.
- Investment Focus Areas: K-12 education, higher education, workforce development.
- Notable Investments: Coursera, EverFi, MasteryConnect.
What's Next for NoRedInk?
As NoRedInk looks to the future, the expansion of its AI-powered grading and feedback functionalities presents a significant opportunity. With over 50% of U.S. school districts already using the platform, the potential for growth is immense. The company is also poised to fully launch its comprehensive writing platform for grades 3–5, further solidifying its market presence.
Future fundraising efforts will likely focus on enhancing product offerings and scaling operations. With 21 investors already on board, including True Ventures and Susquehanna Growth Equity, NoRedInk is well-positioned for additional funding rounds. However, the company will need to navigate challenges such as competition from other edtech firms and maintaining data privacy and security.
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