Imagine K12 Secures New Funding
It has never been a better time to be in the online education business. Khan Academy and the MOOCs have been at the vanguard of a movement aiming to revolutionize learning.
Typifying this shift is the online education start-up fund Imagine K12. They aim to help fund new ventures in the education technology field that are targeting the K12 age group.
They announced this week that they are increasing their initial funding for startups from $20,000 to $100,000.
This new funding has emerged from a newly established Start Fund, that is being backed by some established Silicon Valley figures, including Paul Graham from Y Combinator and Jeff Weiner, CEO of LinkedIn.
The new funding will help Imagine K12 fund entrepreneurs looking to use technology to help children learn, all the way from kindergarten to high school.
The fund, started two years ago, has gone on to become one of the most influential and respected in the industry. Thus far, it has seen 39 startups receive funding. Between them, these startups have gone on to raise over $30 million in funding.
Each startup accepted onto the incubator program will receive funding of $20,000 from Imagine K12 together with a further $80,000 from the Start Fund.
“The funds will give entrepreneurs enough time to get the right market fit so [they] can take root in the educational system,” said Imagine K12 founder Tim Brady by phone. ”And our startups have built products that are used in hundreds of thousands of classrooms.”