Burlingame education startup EdSurge announced Tuesday it just wrapped up a $1.5 million venture-backed financing round, which will allow it to expand the news and analysis edtech online community, along with hosting more summits.
EdSurge’s expansion plans for 2014 are focused in four core areas: organizing events across the United States; producing customized research reports for schools, edtech companies and investors on how specific technologies are playing out in classrooms; developing a nationwide hiring site to serve the rapidly evolving job market for edtech experts; and continuing to grow EdSurge’s mass-audience newsletters, which currently serve more than 45,000 active subscribers a week.
“Our goal is to provide really great information for people to make smart decisions,” CEO Elizabeth Corcoran, who started the company in 2011. “I’m most proud we have built an amazing team of people. I could not have imagined three years ago that we would have found people of this caliber, passionate people.”
Institutional investors in EdSurge’s $1.5 million Series A round are led by GSV Capital and include NewSchools Venture Fund and LearnCapital. Angel investors are Nancy Peretsman, Judy Estrin, Gillian Munson, Kelly Pope and David Bulfer, Joe Gleberman, George Anders, Bud Colligan, Jennifer Fonstad and Martha Ehmann Conte, Imagine K12, John Katzman, Alan Louie, Tim Ranzetta and Lynda Weinman.
“In a remarkably short time, EdSurge has become a vital center of the edtech industry,” Michael Moe, CEO of GSV Capital, said in a statement. “It’s earned the trust of key constituents — educators, entrepreneurs and investors. We are excited about helping Betsy and the EdSurge team continue to frame critical issues and develop innovative events, technology and services in this dynamic, fast-growing space.”
The Burlingame company currently has 11 full-time workers and a couple people who work part time.
“We love being in Burlingame,” said Corcoran, who is a trustee for the Burlingame Public Library, advisor for the new San Mateo Union High School District charter school Design Tech High and has two kids at Burlingame High School.
“I’m really committed to public education, literacy and education,” said Corcoran who previously was executive editor for technology at Forbes Media and a staff writer for The Washington Post.
Meanwhile, teachers and other funders have good things to say about EdSurge.
“I read every edition of EdSurge,” Esther Wojcicki, who teaches journalism at the Palo Alto High School, serves as vice chair of the Creative Commons board of directors and advises EdSurge, said in a statement. “Without EdSurge, I wouldn’t know what is happening in the education space. Not kidding, not exaggerating. It is an important resource for all teachers, administrators, anyone interested in education and especially for people in education.”
EdSurge is a voice of clarity in edtech, where accurate information is at a huge premium, said Jennifer Carolan, who runs the Seed Fund at NewSchools Venture Fund.
The startup kicked off its 2014 summit season in Baltimore Feb. 22. More than 650 educators and 34 companies participated. It will host its next in Nashville in April.
EdSurge’s newsletters can be found at edsurge.com/signup. For more on the company visit edsurge.com.
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