EdCaliber Secures $335,000 in Seed Funding Round Led by the Gorge Angel Investor Network (GAIN5) and Oregon Growth Account
Portland-based EdTech Startup Taking Proven K-12 Management System to Scale
Portland, OR (PRWEB) December 12, 2012
EdCaliber, maker of award-winning K-12 learning management tools, today announced it has closed a $335,000 convertible debt financing round led by the Gorge Angel Investor Network (GAIN5 LLC), Oregon Growth Account (OGA) and angel investors from Portland and the Silicon Valley. The company will use these funds to build out a sales and business development team, and expand its service to meet strong customer demand.
EdCaliber's secure, cloud-based system gives teachers and administrators the ability to manage resources and track student learning. The company's multifaceted platform allows teachers to track student progress against specific standards, including the new Common Core State Standards (CCSS) and English Language Development Standards, and then quickly re-engage those students who are not meeting the benchmark. This software platform also allows teachers to share learning resources and best practices across a school, district, or state.
Over the past 12 months EdCaliber has rolled out its integrated K-12 learning management system in over 100 schools nationwide, generating rave reviews:
Gloria Madera, Assistant Superintendent of Educational Services for San Ysidro School District in California, said "EdCaliber transformed how SYSD designed its lessons. It ushered in a new model of lesson planning…and improved both instructional delivery and student achievement.”
“It is rare to find a local company with a proven product and strong market demand, which just needs the capital to take it to scale“ said Gary Rains, Managing Member of GAIN5. “We think EdCaliber's deep understanding of how to make schools more efficient and effective uniquely positions it to address the needs of its customers.”
“Oregon's economy is enhanced when Oregon companies succeed,” said James Sinks, a spokesman for the Oregon Growth Account. “The Oregon Growth Account has a goal of creating higher income jobs and generating a return on our investment, which will benefit schools through the Education Stability Fund.”
“It's an exciting time to be involved in K-12,” said Kevin Stone, Founder and CEO of EdCaliber. “With our strong focus on empowering and partnering with teachers, EdCaliber has already made a significant impact on the teachers and students we serve. EdCaliber is honored to partner with GAIN5, OGA, and other leading angel investors to scale up and serve more districts nationally as well as here in Oregon.”
About Gorge Angel Investor Network (GAIN5 LLC)
GAIN5 is an investor group located in Hood River, Oregon, dedicated to supporting and growing new and emerging businesses. In its fifth year, GAIN5 includes investors from Oregon, Washington, Texas and Australia who live or recreate in the Columbia River Gorge.
About Oregon Growth Account (OGA)
OGA was established in 1995. The stated purpose of the OGA is to earn returns for the Education Stability Fund by making investments in or providing seed capital for emerging growth businesses in Oregon. The OGA does not invest directly in companies, and instead relies on a network of professional fund managers to evaluate prospects. The OGA receives funds from lottery proceeds.
EdCaliber is a cloud-based planning, pacing, content management, and resource-sharing tool for use in K-12 schools. The company currently provides innovative solutions for teachers and administrators to improve student learning to hundreds of schools nationally. EdCaliber is headquartered in Portland, Oregon with additional offices in California. For more information, please visit http://www.edcaliber.com.
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