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ST. LOUIS, MO. – Schoology, a classroom management software company that was started in a Washington University entrepreneurship course, has raised $15 million from Intel Capital, the investment arm of Intel.
The financing round, which brings the company’s fundraising total to $25 million to date, also included money from existing investors such as FirstMark Capital and Meakem Becker Venture Capital.
Jeremy Friedman, CEO and founder of Schoology, graduated from Washington University in 2009 with a bachelor’s degree in economics and computer science. Friedman formed the company while in the Hatchery business plan course offered at Washington University.
The class has pumped out such startup success stories such as Yurbuds, which was recently acquired by Harman International Industries and Farmplicity, which was acquired by Sunfarm Food Service in May.
According to a statement from Schoology, the financing round will support continued expansion in Kindergarten through 12th grade and higher education markets.
“We are in a golden age for education technology, and Schoology is at the forefront, driving innovation in the market,” Friedman said in the news release. “We continue to receive praise from our users, as well as industry accolades, for our work in building a unified platform that is helping to improve the learning experience for students of all ages. Intel is one of the largest names in global education, and their investment represents significant validation for the work we are doing.”
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