Edtech startup 2U raises $31M in equity [Startup Roundup] - Technical.ly Baltimore

Growth

Oct. 23, 2013 9:14 am

Edtech startup 2U raises $31M in equity [Startup Roundup]

This is the Startup Roundup. Every Wednesday morning, Technically Baltimore will put together the smaller pieces that make up our startup ecosystem.

Have news for the Startup Roundup? Get in touch.

who’s getting funded?

Allovue, based in both Baltimore and soon the Socratic Labs edtech accelerator in New York City, received $100,000 from the Maryland Technology Development Corporation. The edtech startup from Jess Gartner creates budget-tracking software for public school administrators and principals.

Bambeco, based in the Fairfield Area neighborhood of Baltimore city, has raised $4.6 million in equity, according to SEC filings. The online retailer, which has received two rounds of funding previously from the state’s InvestMaryland fund, sells eco-friendly furniture and other home and garden products.

WellDoc, based in the Charles North neighborhood of Baltimore city, has raised $8.3 million in equity, according to SEC filings. The health IT startup develops apps for managing chronic diseases.

2U, based in Landover in Prince George’s County, has raised $31 million in equity, according to SEC filings. The edtech startup partners with universities, puts together for-credit, online courses and degree programs with each school, and then offers those programs to students worldwide.

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who’s making moves?

Inner Harbor-based cybersecurity company CyberPoint International has won a research contract from the federal government for $5.4 million. “CyberPoint’s research and development team will work … to solve technical problems and advance cyber defense testing,” according to the Baltimore Business Journal.

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