Sashi Reddi of SRI Capital and Yellowdig founder Shaunak Roy had lunch in Center City one day.
A month after they first shook hands, a deal was made: SRI Capital was investing a cool $1 million in Roy’s company.
Today, after all the details have been ironed out, the Center City-based edtech company announced the closing of that funding round, which is geared at kicking off a year of growth for the company. Yellowdig was founded in 2014 as something like a “Reddit for the classroom.”
As part of the deal, Reddi will join Yellowdig’s board of directors, bringing with him his knowledge of SaaS enterprises.
“The funds will be used to accelerate platform development and sales & marketing efforts, as we expect rapid growth over the next 12 months,” Roy said in a statement.
https://youtu.be/HbYydsdKeh4
By the end of the year, the company expects to take its current full-time staff in the U.S. from four to eight. Growth in Yellowdig’s offshore team in Pune, India, is also expected.
“Building an edtech SaaS platform requires patience, as the growth trajectory is very different from consumer tech,” Roy said. “Our core team has been working very hard over the past few years to solidly establish the product in the marketplace and build a scalable go-to-market strategy.”
Some 35,000 students across campuses like Northwestern University, Arizona State University, the University of Pennsylvania and the University of Florida use Yellowdig as a social learning platform.
Before you go...
Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.
3 ways to support our work:- Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
- Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
- Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
Join our growing Slack community
Join 5,000 tech professionals and entrepreneurs in our community Slack today!
![](https://technical.ly/wp-content/uploads/2024/09/Screenshot-2024-09-05-at-8.49.06 AM-400x305.png)
No, Kamala Harris isn’t the official candidate of the Philadelphia Eagles – and the city’s ads didn’t get hacked
![](https://technical.ly/wp-content/uploads/2024/08/fresco-column-building-bank-400x300.jpg)
An overlooked part of entrepreneurial ecosystems? The lawyers
![](https://technical.ly/wp-content/uploads/2024/09/IMG_0444-3-scaled-463.488231744x300.jpg)
Newly formed AI startup acquires Philly’s defunct LifeBrand, which still owes staff and investors
![](https://technical.ly/wp-content/uploads/2024/01/University-City-Science-Center-Venture-Cafe-SciCenter_120723-308-450x300.jpg)