Reach Capital, one of the first venture firms to focus exclusively on EdTech, announced that it has closed $215 million in fresh Capital for its fourth fund, the largest in its history, bringing its total raised to $570 million. With these funds, the San Francisco-based startup plans to back companies in the US and abroad, especially in Latin America.
Co-founded by Jennifer Carolan, Shauntel Garvey, Wayee Chu, and Esteban Sosnik in 2015, Reach Capital is a thesis-driven, sector-focused, early-stage EdTech investor. Since its inception, the company has intentionally built an expansive network of investment expertise, support partners, and resources for the EdTech community. The firm has funded 120 EdTech startups in total. Some of them have since been acquired by larger companies like Renaissance, Turnitin and Chegg or have billion-dollar valuations themselves.
According to Shauntel Garvey, for years, the firm has successfully spotted startups at the helm of technological disruptions that have spilled into the American classroom. From introducing iPads as a learning tool for K-12 students to the rise of AI-based teaching assistants, Reach Capital has financed companies that have helped teachers and students use these devices and technologies efficiently.
Speaking about the company, Co-founder of Reach Capital, Shauntel Garvey, said:
The firm looks for early signs that customers will adopt a product. Sometimes that could mean traction that a startup’s development has received on Twitter. We want the tools people use for teaching and learning to mimic the tools we use in our everyday lives.
With a team of 15 diverse partners and employees, the startup has been ranked as one of the most varied investment firms in the country. The platform focuses on seed, Series A and Series B rounds. Over the last decade, it claims to have invested in more than 130 education startups, sat on more than 75 boards, supported 23 companies through acquisitions and hosted 13 annual Founders’ Day convenings.
Reach Capital also announced its first founder’s fund, through which 40 participating founders can invest in and mentor founders of other startups.
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