Company’s software solutions help showcase quality in education while saving time and resources
Rocky Hill, Conn., August 11, 2011 – Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, today announced that it has made a $250,000 investment in SchoolChapters Inc. of West Hartford, Conn., through its Seed Investment Fund. CI’s investment is part of a $670,000 Series A funding round also involving Vital Financial, SCI Investors, Vestal Capital and an individual investor.
“We are extremely pleased that CI has provided funding for SchoolChapters through its Seed Investment fund. The early education sector is in many ways underserved from a technology standpoint,” says Claudia Reuter, chief executive officer of SchoolChapters. “We know that the right software solutions can help educators effectively convey the quality of their educational programs and the experiences they provide for children. This investment enables us to better serve our existing clients and to provide complimentary solutions throughout the education market as we expand.”
SchoolChapters sells a suite of software solutions designed to manage the evidence educators compile to demonstrate their educational programs’ quality and alignment with standards. The company’s offerings are used in more than 1,000 classrooms across the country in multiple settings including YMCAs, Head Starts, public school districts, corporate centers, Department of Defense centers, and institutions of higher learning.
Peter Longo, president and executive director of CI, said, “We’re excited to invest in a company that is helping educators and educational institutions during accreditation. While SchoolChapters’ software now mainly applies to early childhood programs, we believe it has the potential for growth in many other applications.”
Robin Mayo, CI managing director of investments, represents CI on SchoolChapters’ board of directors.
About Connecticut Innovations Inc. Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in early-stage Connecticut technology companies, university/industry research collaborations and technology transfer and collaborating with government, business, nonprofit and academic organizations to advance technology growth and promote public policies consistent with CI’s mission. Additionally, CI supports clean energy and energy efficiency initiatives through its administration of the Clean Energy Finance and Investment Authority. For more information on CI, please visit www.ctinnovations.com.
About SchoolChapters Inc. SchoolChapters Inc. was started by entrepreneurs focused on delivering innovative technology solutions to educators. The company’s services and resources facilitate the processes that educators already go through, and allow them to tell their stories. To learn more please visit www.schoolchapters.com.
FOR IMMEDIATE RELEASE Contacts: Emily Smith Managing Director, External Relations Connecticut Innovations Phone: (860) 257-2337
Patrick McGloin On behalf of Connecticut Innovations Phone: (860) 841-3921 E-mail: email@example.com