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

Philly tech: Get your checkbook out for #GivingTuesday

Funding news about Young Alfred Inc.

Medtech startup Proscia raises $8.3 million for hiring push

SPONSORED

Philly

6 lessons on growing digital audience from the team behind Traffic Think Tank

Philadelphia

Technical.ly Match

Sr. Front End Engineer

Apply Now
Philadelphia/Remote

Technical.ly Match

Sr. Ruby Engineer

Apply Now
Philadelphia, PA

Linode

Software Engineer – Python

Apply Now

Backed by $5M Series A, Conshy-based logistics company plans big hiring push

Clients and community come first for Vanguard employees

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

SPONSORED

Philly

Opportunity knocks at Pinnacle 21’s new Blue Bell HQ

Philadelphia, PA

Linode

Software Engineer – Integrations

Apply Now
Philadelphia, PA

Linode

UI/UX Designer

Apply Now
Philadelphia, PA

Linode

Customer Support Manager – Linux / Cloud Hosting

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

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