Yellowdig secures six-figure funding round to open NYC edtech office - Technical.ly Philly

Business

Sep. 22, 2016 7:51 am

Yellowdig secures six-figure funding round to open NYC edtech office

The exact figure was not released, but founder Shaunak Roy confirmed the raise was in the $500,000 range. The dough will go toward setting up a New York office and boosting business development.

Shaunak Roy, Yellowdig CEO.

(Photo by Juliana Reyes)

Center City-based edtech company Yellowdig just announced a six-figure raise from two New York City venture funds: QB1 Ventures and Rosecliff Ventures.

Although the exact figure wasn’t disclosed, founder Shaunak Roy told Technical.ly the investment was in the $500,000 range.

So what does this mean for Yellowdig? It seems like just a minute ago that the company raised another sizable amount of cash and added OG SaaS exec and investor Sashi Reddi to its board of directors.

According to Roy, the extra moolah comes at a time when the company’s business model is proving its worth.

“Yellowdig is rapidly signing long-term contracts with many top US universities and has a very healthy sales pipeline,” Roy said in a company press release. “This additional investment from QB1 and Rosecliff will be used to accelerate business development and to further build out our technology platform.”

The company is also putting the resources toward a New York City office, and has added Akiba Covitz to its senior management team, as Head of Business Development.

Covitz is a former Harvard Law School faculty with ties to edtech by way of edX, an online learning company, and Academic Partnerships, an online program management provider.

Advertisement

Here’s a video recently published by Northwestern University of Yellowdig at work.

Organizations: Yellowdig
People: Shaunak Roy
-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

Funding news about Young Alfred Inc.

Medtech startup Proscia raises $8.3 million for hiring push

Virion Therapeutics raises $4M to continue work on cancer, viral infection treatments

SPONSORED

Philly

Clients and community come first for Vanguard employees

Chesterbrook, PA

Deacom

Entry Level Software Developer

Apply Now
Chesterbrook, PA

Deacom

IT Specialist

Apply Now
Malvern, PA

Vanguard

Sr. Full Stack Developer-Client Experience Lab

Apply Now

Clients and community come first for Vanguard employees

Philly’s SRI Capital has a cool $100 million to fund enterprise tech

QuotaPath raises $1.5-million seed round to chase the sales software market

SPONSORED

Philly

UX, UArts and the importance of human-centered design

Malvern, PA

Vanguard

Product Owner of Data Science Solutions

Apply Now
Malvern, PA

Vanguard

Java Developer-Entry

Apply Now
Malvern, PA

Vanguard

Technical Lead-Full Stack

Apply Now

Sign-up for daily news updates from Technical.ly

Do NOT follow this link or you will be banned from the site!