Chicago-based EdTech company, Innovare, announced that it has raised $2M in additional seed funding. The company will use the new funds to continue to scale its impact on education leadership via its cloud-based strategy and analytics platform Inno.
Investors in this round include Cleveland Avenue of Chicago,Mexico City/Austin-based Dux Capital, Chicago-based Tawani Ventures, and returning investor Portfolia‘s Rising America Fund of San Francisco, among others.
Innovare was founded in 2017 to meet the unique needs of K-12 education administrators and executives in nonprofits. The company’s web-based application Inno™ aggregates the siloed data of K-12 schools such as student information systems, standardized assessments, attendance, reading and math ed-tech programs, and spreadsheets, into one personalized dashboard.
The platform enables leadership teams to develop data-driven strategies, build a continuous improvement culture, and measure real-time impact using the synthesized data. In nonprofit organizations, the application is used by executive directors and boards to visualize impact data, manage key initiatives, and measure program ROI.
AJ DeLeón, Co-Founder and CEO said:
We are proud to inspire additional venture interest in our platform; given the current economic environment, we’re more committed than ever to leverage our technology to ensure the impact of education and philanthropic investments across the US and beyond
Andrea Zopp, Managing Partner of the CAST US Fund of Cleveland Avenue stated,
Innovare’s cutting edge analytics and strategy platform not only enables educators to better access and understand the massive amounts of student related data they receive, but also removes the silos between various data sources allowing for strategic analysis and impactful use. We are excited to support Innovare’s continued growth and critically important work, which drives improved outcomes for students.
Innovare will use the capital raised to continue to grow across the largest education markets in the United States. The company will also enhance its proprietary platform’s IP by launching a new version of its app Inno™ that will make data aggregation and analysis seamless and will leverage machine learning to provide strategic planning insights. Innovare’s future roadmap includes the launch of the first edtech marketplace to match educators with vetted solutions to their most pressing problems.
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