Ed tech platform Fiveable has secured $2.3 million in funding led by BBG Ventures, with participation from Metrodora Ventures, Deborah Quazzo, Spero Ventures, Matchstick Ventures, Cream City Venture Capital, 27V, Golden Angel Investors, and SoGal.
The funding round, brings Fiveable’s fundraising total to $3.5 million.
Milwaukee-based Fiveable states it seeks to democratise learning.
It was founded by chief executive Amanda DoAmaral, who says the company’s primary goal is to blend together education and socialisation with a platform that provides a library of more than 5,000 pieces of content, comprising study guides, live streamed lessons, and Q&A forums.
The company says it has formed a community where students are seen holistically and can support each other socially and safely online. It also offers dedicated test-preparation resources and currently caters to 1.5 million high school students.
A new Fiveable community will launch this winter, with dedicated spaces aligned with students’ interests, including discussions around social justice, mental health, and sexual orientation affirmations, “allowing students to expand their learnings and perspectives beyond the content being taught in the classroom”.
Nisha Dua, general partner at BBG Ventures, said: “Amanda’s experience as a teacher who has grown AP programmes and improved test scores, combined with her student-first approach to building product and her understanding of peer-to-peer interactions makes her uniquely positioned to build the new social network for education, democratising access at a time when students need it most.”
Chelsea Clinton, co-founder of Metrodora Ventures, added: “Investing in solutions that answer young people’s needs and challenges is an investment in our country’s future. As we launch Metrodora Ventures, we’re thrilled to be supporting a leader like Amanda, whose passion for democratising access to high-quality education is at the core of every decision, and a company like Fiveable that fosters creativity and critical thinking for students inside and outside the classroom.”
Date published: 15 October 2020