Innovare, an EdTech company harnessing the power of education management and valuable data to drive continuous improvement, recently announced that it has raised $2 million in additional seed funding. The round was led by Cleveland Avenue of Chicago, Mexico City/Austin-based Dux Capital, with participation from Chicago-based Tawani Ventures and returning investor Portfolia’s Rising America Fund of San Francisco.
With this new fundraising, the Chicago-based startup plans to continue to scale its impact on education leadership via its cloud-based strategy and analytics platform Inno.
Co-founded by Adrian DeLeon, Fernando DeLeon, and Nick Freeman in 2017, Innovare meets the unique needs of K-12 education administrators and executives in nonprofits. The company’s web-based application Inno™ aggregates the siloed data of K-12 schools, such as student information systems, standardized assessments, attendance, reading and math EdTech programs, and spreadsheets, into one personalized dashboard. Its vision disrupts the status quo with cutting-edge analytics, education management and strategic planning technology, expert support rooted in continuous improvement, and fostering collaboration among leaders in education and all other social impact-focused organizations.
Innovare enables leadership teams to develop data-driven strategies, build a continuous improvement culture, and measure real-time impact using the synthesized data. In nonprofit organizations, the application is used by executive directors and boards to visualize impact data, manage key initiatives, and measure program ROI. The startup aims to empower leaders of organizations in the education ecosystem with the technology, support, and community of peers they need to achieve a positive and sustainable impact on education and society.
Speaking about the investment, Co-founder & CEO of Innovare, Adrian DeLeon, said:
We are proud to inspire additional venture interest in our platform; given the current economic environment, we’re more committed than ever to leverage our technology to ensure the impact of education and philanthropic investments across the US and beyond.
Innovare app is a partner of social innovation in education by supporting the school and system-level leaders to achieve positive student outcomes, which are then shared with the for-profit and philanthropic organizations that fund their strategic plans. It also supports nonprofit organizations in gathering and analyze the data they need to manage their programs and tell their stories of impact to their boards and funders, who are often composed of people from the private sector.
Andrea Zopp, Managing Partner of the CAST US Fund of Cleveland Avenue, added:
Innovare’s cutting-edge analytics and strategy platform not only enables educators to access better and understand the massive amounts of student-related data they receive but also removes the silos between various data sources allowing for strategic analysis and impactful use. We are excited to support Innovare’s continued growth and critically important work, which drives improved student outcomes.
In 2021, Innovare had raised $3 million in a seed funding round led by Los Angeles-based VamosVentures, which invests in diverse founders that offer unique tech-driven solutions to address systemic social issues. The firm’s latest funding brings its total raised to $5 million.