Hiveclass, a New York-based EdTech platform, recently raised $1.5 million in seed funding. Spring Mountain Capital led the round, which also included Georgetown Angel Investor Network (GAIN), New York State Venture Fund, Rethink Education, and Techstars.
Hiveclass hosts online courses for K-12 students to learn about fitness, sports, dance, yoga, nutrition, and mindfulness, among other things. The portal offers short-form videos that teach children various skills, such as how to dribble a basketball. In addition to the videos, quizzes in between clips require written responses, helping keep kids focused and engaged. Educators can view all of their students and their quiz answers by using the platform’s teacher location, ensuring that everyone has completed their assignment. It claims that another selling feature is that students can earn physical education credits outside of class.
Hiveclass believes it stands out from other EdTech platforms and educational YouTube channels by emphasizing the P.E. and wellness field. The company claims to align with national standards set forth by SHAPE America, the Society of Health and Physical Educators organization that governs physical education in the U.S. Its closest rival, PLT4M, is also a SHAPE America member. It partners with over 80 educational institutions and has over 13,000 students and teachers on the platform.
The firm doesn’t publicly disclose pricing; it says it’s tailored for each client based on their specific requirements, including student count. However, it claims to have generated more than $2 million in revenue and hopes to hit an additional $1 million by next month.
With this funding, the organization plans to focus on product development, explicitly improving a teacher portal used by educators who utilize it to promote student engagement. Also on the agenda are expanded services for students with special needs.
The funding brings the startup’s total capital to over $3 million.
