EdTech Company, Innovare - Social Innovation Partners, Inc., Closes Oversubscribed $3MM Seed Round with Support from Diverse Fund Leaders and Social Impact Champions
Chicago-based EdTech company, Innovare - Social Innovation Partners, Inc., announced that it has raised $3MM in seed funding to scale its impact on education leadership via its cloud-based strategy and analytics platform Inno™. The round was led by VamosVentures of Los Angeles who invests in diverse founders that offer unique tech-driven solutions to address systemic social issues. Innovare’s cap table also includes LGBTQ+ syndicate Gaingels, Midwest-focused Propellant Ventures, women-of-color-powered fund Portfolia, Latina-founded Chingona Ventures, and influential angel investors with strong ties to the education and social impact sectors such as Deborah Quazzo, Angel Morales, Scott Morgan, Amanda Fernandez, Kerrien Suarez, Carlos Antequera, and Chris McGowan.
Innovare was founded in July of 2017 to meet 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 ed-tech programs, and Google spreadsheets, into one personalized dashboard. It also guides leadership teams to develop better 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 return on investments.
VamosVentures’ Founder and Managing Partner, Marcos C. Gonzalez, stated, “Innovare's understanding of and commitment to supporting our education system with its strategy and analytics software is impressive—and supports our mission. Accompanied by our support as lead investor, we look forward to enhancing the impact Innovare can make for leaders across the education ecosystem.” The firm’s investment in Innovare, out of its $50MM fund supported by Apple, Twitter, PayPal, Bank of America, and others, is its largest to date and its first in education technology.
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