Citelighter (TechBUZZ ’13 Summer) attracts $2 mln
Baltimore-based writing platform providerCitelighter has received $2 million in Series Seed-2 funding. Propel Baltimore Fund led the round with participation from other investors that includedMaryland Venture Fund, Gulf Ventures, New York Angels, Baltimore Angels and Blu Ventures. Also, Citelighter has named Christopher College, managing partner at Propel Baltimore Fund as a board observer.
BALTIMORE (January 20, 2015) Today, Citelighter, an education technology company with research and organization-based tools for K-12 administrators, teachers and students, announced $2 million in Series Seed-2 funding led by Propel Baltimore Fund with additional contributions by Maryland Venture Fund, Gulf Ventures, New York Angels, Baltimore Angels and Blu Ventures. Citelighter also received support from George Roche, Former CEO and Chairman of T. Rowe Price Group, Ed Hajim, President at Diker Management LLC. and Frank Bonsal Jr., founder of National Enterprise Associates for the funding round. Citelighter will also be welcoming Christopher College, Managing Partner at Propel Baltimore Fund as a board observer.
³At Citelighter, we believe that students and teachers should live up to their full potential,² says CEO Saad Alam. ³Through our proprietary education technology, we have made that vision a reality by providing a tool that allows students to effectively communicate and structure their thoughts as well as streamline the way teachers assign work and understand how each child in their classroom learns. This latest round in funding will only help us enhance the product and grow into new schools for a 21st century learning experience.²
Coming off a successful expansion of services in 2014, Citelighter, which is in 3,800 schools worldwide, plans to utilize the funding to offer robust new features, including improving its teacher dashboard. This will allow teachers to get the most out of Citelighter¹s one-of-a-kind formative assessment data and metrics that provide transparency and accountability for the classroom. The company also plans on increasing from 40 to 60 employees.