San Diego-Based CourseKey Raises $5 Million in Series A Funding

August 12, 2019
Written by Folake Dosu

edtech-coursekey-funding

San Diego-based edtech startup CourseKey recently secured $5 million in investment capital, PACIFIC reports.

Builders VC led the Series A round. Entangled Ventures, Bisk Ventures and Social Startups Limited Partners also participated, as did early investors Qualcomm’s former CEO Paul Jacobs and former president Steve Altman.

Founded by Luke Sophinos, a student founder at San Diego State University in 2015, the company has raised a total of $9 million to-date. CourseKey plans to use the funding to make its software offering more robust for colleges, universities and other learning institutions.

“There’s not really a system in place for quality retention. Roughly half of kids graduate within six years, which is crazy.”

The software tool began as a simple attendance tool for professors in lieu of a manual roll call. Instead, students would log in online and input a code displayed at the front of the classroom. For verification, CourseKey would detect the student’s location GPS and Wi-Fi.

Since its inception, CourseKey has refined its software to upgrade its verification capabilities from GPS and Wi-Fi recognition to ultra-high frequency tone detection through its software.

In addition to attendance, CourseKey’s app can now be used for online textbooks, in-class student polls, quizzes and tests. CourseKey now has its eye on academic institutions for its customer base, arguing that improving attendance can boost graduation rates, which is a win-win for students and institutions. 

“There’s not really a system in place for quality retention,” Sophinos told PACIFIC. “Roughly half of kids graduate within six years, which is crazy.

Sophinos sees an opportunity to monetize student behavior data as a SaaS data analytics platform to give institutions a lens into retention risks and insights on potential interventions.

Currently, more than 80 locations and roughly 100,000 paying users are on the CourseKey platform.

RelatedRead More About Edtech

Great Companies Need Great People. That's Where We Come In.

Recruit With Us