Engrade attracts $M

Engrade service, representing a free online application which has been created for being an assistant to a teacher in managing a group of students, publication of notes, tasks, attendance record, homework deadline with a possibility to follow statistics by students and their parents, attracts $5M within the limits of B series of financing, conducted by Javelin Venture Partners with participation of existing investors ReThink Education, Kapor Capital, Expansion Venture Capital and Ed-Mentor, and also a new investor Samsung Venture Investment Corporation.

According to the round results the total amount of funds, attracted by the company, was $8M.

In the first round of financing the company attracted $3M within the limits of a seed round, conducted by Rethink Education with participation of charitable trust NewSchools and a range of investors-angels (Greg Gunn, Zac Zeitlin, Richard Chino).

From the date of service`s foundation in 2003, the amount of its users reached 4,5 million of people from 150 countries. The following companies cooperate with the company: New York City Department of Education and KIPP Charter Schools.