Chicago-based Elevate K-12, which provides live-streaming instruction for US K12 classrooms, has closed a $40 million Series C round of funding led by venture capital firm General Catalyst.
Elevate K-12 stated it will use the funding to scale its live stream instruction model to more schools and districts that lack teachers and to invest in product.
Shaily Baranwal, Elevate K-12’s founder and chief executive, said: “By investing in our product, service, engineering and staff, this new round of funding will allow us to make our service even more powerful as we continue to assist schools to address their teacher shortages.”
Following the deal, General Catalyst executive in residence Lexi Reese will join Elevate K-12’s board.
General Catalyst’s managing partner Hemant Taneja said that the firm became interested in partnering with Elevate K-12 after seeing the success of the technology company’s platform in its initial partner districts across 27 US states.
Elevate K-12 provides tools for collaborative teaching and learning that emulate the experience of a real, physical classroom. Its platform comprises proprietary live instructional management technology, live instruction service and curriculum and classroom management. Elevate K-12 currently operates in 27 states and is expanding to new states and districts across the US.
Date Published: 20 June 2022