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.

Companies: Yellowdig
People: Shaunak Roy
-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

These are the 13 winners of Philly’s new grant program for underrepresented founders

How Macquarie blends tech-fueled financial services with global opportunity

Glassdoor just named Guru’s Rick Nucci to its Top CEOs list

SPONSORED

Philly

Meet these 10 hiring companies at Super Meetup

Philadelphia

Perpay

UX Designer

Apply Now
Chesterbrook, PA

Deacom

Inside Sales Representative

Apply Now
Horsham, PA

Penn Mutual

Product Owner/Business Transformation Specialist

Apply Now

AT&T’s Aspire Accelerator is looking for disruptive edtech orgs

Philly tech: Get your checkbook out for #GivingTuesday

Funding news about Young Alfred Inc.

SPONSORED

Philly

Verizon is looking for the brightest ideas on how to use its 5G technology

Center City

Inspire

Member Experience Specialist

Apply Now
Philadelphia, PA

Perpay

Frontend Engineer

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!