Yellowdig, a social learning platform driven by collaboration and data science, has raised $1.5 million from SustainVC, Spring Point Capital, Musketeer Capital, and Ben Franklin Technology Partners, the company has announced recently.
The funding will be used to scale Yellowdig Engage platform in response to the uptick of inbound inquiries due to all schools moving online in light of COVID-19 pandemic, according to the company's press statement.
Founded in 2015 by Shaunak Roy, Yellowdig provides a platform that enables an institution’s entire ecosystem – from students and faculty to administrators and alumni – to connect, learn and engage. The platform forms a social layer on top of existing enterprise learning systems used by universities and organizations to build an engaging learning experience. As in-person, blended, and online courses, Yellowdig provides the online environment to collaborate, communicate, share content, and connect with peers.
Yellowdig platform helps establish social learning communities, increase students’ knowledge of current affairs related to coursework, and increase course participation, engagement, and retention. The Philadelphia-based edtech startup claims to have 300,000 learners on its platform, with 5000 new learners engaging every month.
Commenting on the latest development with the company, Shaunak Roy, Founder and CEO, Yellowdig, said,
“Given the recent COVID-19 pandemic, online education is expected to expand at a rapid pace. As colleges and universities shutter their physical campuses and move their courses to online and hybrid formats, maintaining social and emotional connections with their learners is more important than ever.”
Yellowdig provides a truly digital campus that enables engagement throughout the entire student lifecycle – from pre-enrolment to alumni status and beyond. The platform enables learners the ability to engage digitally beyond the course of study, enriching all aspects of student life – from clubs, internships, student groups and support services to volunteering and career planning.
As part of the investment, Yellowdig is now joined by new board members. According to the company, Bob Keith, Co-founder of TL Ventures, will join as a board member, while Eric Chapman, Managing Principal at SustainVC, will join the board as an Observer.
Commenting on the investment, Eric Chapman, Managing Principal at SustainVC, said,
“Shaunak and his team have anticipated the need for higher education institutions to engage today’s ‘digital native’ students with a platform that is instinctive and an effective learning tool in the COVID-19 world. We are excited to invest in Yellowdig and to help students stay connected as socially-distanced learning becomes the new norm.”
Meanwhile, the latest funding has taken Yellowdig’s total raised to $4.6 million to date, according to the company.
