Wisconsin Startup StudyBlue Raises $9 Million For Digital Backpack
Wisconsin startup StudyBlue has raised $9 million for their digital backpack company. StudyBlue helps students store and organize their study materials and turns them into digital flash cards and quizzes.
StudyBlue is cross-platform, so students can easily pick up where they left off on any device.
The $9 million Series A-1 round was led by Great Oaks Venture Capital, the Wisconsin Alumni, and Research Foundation. This new funding will allow them to continue building their user base, which is already 2.5 million users strong. Those users have created and shared 100 million study materials with the service to date.
“We are experiencing rapid growth. This financing allows us to further expand our community and platform to help students master their course material faster,” said Beck Splitt, StudyBlue’s CEO. “Our online, mobile and social tools connect students to a comprehensive crowd-sourced library of content on nearly any subject, and to each other, in a highly relevant way.”
“We are really excited to be a part of the StudyBlue movement,” said Andy Boszhardt, Great Oaks Venture Capital Partner. “The entire edtech industry is seeing tremendous growth and StudyBlue has particularly impressive traction in the space with over 2.5 million registered users who use its platform across a myriad of devices. They are in a perfect position to expand the audience of students they serve and we’re really pleased to be a part of that.”
“We see Great Oaks as a perfect complement to our efforts,” said StudyBlue founder Chris Klundt. “Their breadth of experience across consumer, mobile and online businesses as well as a commitment to the edtech industry makes this a great partnership.”