Connecticut-based education technology company IntelliBoard Inc. has announced it has raised $3.4 million Series A funding from a variety of investors ‘to continue its growth momentum’.
According to the company’s statement, the investors include Connecticut Innovations, Flashpoint VC, Smarthub VC, and its previous Series Seed investor LETA Capital.
Founded in 2015, IntelliBoard offers reporting and analytics services to education communities and institutions that use Blackboard Learn, Canvas, Brightspace, Desire2Learn, and Moodle-based learning management systems. It integrates with multiple LMS platforms and extracts the statistical data collected within the LMS and presents it on a single dashboard in the form of easy-to-read, aesthetic and printable charts, graphs, and analytics.
With its mantra to provide the best instantly available, easy-to-use report and analytics, IntelliBoard provides groundbreaking insights and delivers educational leaders the data they need to inform their educational business decisions and reach their goals faster. Specific tools within IntelliBoard help to highlight high- and low-performing learners through tracking, compliance measurement, competencies and engagement.
Explaining about the company and its plans to use the investment, Anatoliy Kochnev, Co-founder and CEO, IntelliBoard, said,
“In 2015, we saw the need for data to be available to those who want to learn. Using data to improve the learning process is so important for educators, administrators and learners. The true value of data visualization lies in its ability to help show – not just tell – the story of the learner. This is what we are doing today. This investment will push us farther, faster, and it will make our product more robust, allowing us to further the education process.”
The company said it will use the new investment to execute its aggressive growth strategy and better serve its global client base with new features and platform enhancements.
Commenting on the investment, Douglas Roth, Managing Director of Investments at Connecticut Innovations, said,
“We are impresses with how much IntelliBoard has accomplished in such a short time. There has been, and will continue to be, a growing conversation to online delivery of learning across the K-12, higher education and corporate markets. IntelliBoard’s robust platform enables critical insights necessary for the effective and successful distribution of educational programs.”
Explaining what makes the company continue to support IntelliBoard, Alexander Chachava, Managing Partner at LETA Capital, said,
“IntelliBoard is the best BI solution for the growing learning management systems market. The company is doing a great job of transforming the learning process and increasing its effectiveness. Anatoliy and his team have the long-term vision and willingness to build a world-class company, that’s why we continue to support them.”
Meanwhile, IntelliBoard said it will develop ongoing feature improvements based on client needs, launch several new products, including a focus on attendance, making recommendations for future coursework, and strengthening integrations for the LMS platforms. The company also said it will extend the capabilities of its AI tool and improve IntelliBoard and e-commerce integrations.
With the latest funding, the company has raised a total of $4.4 million till date. Previously, it raised $1 million from LETA Capital in 2017.