Atlanta Based EdTech Company Crescerance Receives Private Funding from BIP Capital
Monday, August 10th, 2015
Atlanta-based EdTech company Crescerance, the creator of MAD-learn (an innovative learning platform and curriculum to teach students how to build mobile apps) and Embr (a strong mobile communications platform for schools and districts across the world) has just received a Series A round of private funding from BIP Capital, one of the most active and successful growth capital investors in the Southeast.
“Usually we shy away from investing in companies that are not singularly focused on delivering one product, but Crescerance has proven an ability to develop two high-quality products and market and sell those products with great success,” said Mark Buffington, Managing Director at BIP Capital. “Since we first began a dialogue with Crescerance, about six months ago, the company has doubled revenue. They have been successful in K12 education because they know their audience. One of the founders is an experienced educator and the other founder is a technologist… a perfect marriage.”
The innovative MAD-learn platform empowers students and gives them the ability to create their own mobile applications using a strong online platform coupled with lesson plans and curriculum delivered through Crescerance’s partnerships with public and private schools. By allowing students as early as the 3rd grade to design and create their own applications, MAD-learn ensures that our future generations are creators of technology not just consumers of it. Currently, there are thousands of apps that have been created by students with MAD-learn, many of which are live apps on Google Play, iTunes App Store, and the Windows Store.
The Embr mobile communication solution allows schools, districts and educational associations to communicate and engage in real time with their constituents. Be it crisis management, transportation service streamlining, or an event announcement, Embr provides unprecedented, real-time updates and communication to teachers, students, parents, and administrators through a customized mobile app for a school, association or district. The core mission of the Embr platform is to enable communities to ingnite a culture of engagement through the power of mobile.
"Crescerance is proud to serve the most progressive and forward thinking associations, schools and districts in the country. This funding and this partnership will allow us to expand our efforts even further, bringing best in class communication solutions and unprecedented creative mobile application development opportunities to schools and students in every corner of the country,” said Alefiya Bhatia, CEO of Crescerance.
"While there is a lot of buzz about Education Technology lately, I can confidently say that not every VC is built to be an EdTech VC,” said Namit Bhatia, Chairman of Crescerance. “The standard deal mechanics or metrics just don't work in EdTech. We're excited about our partnership with BIP because the team at BIP just gets it. They are not just a financial partner; they are a business partner. And that's really important to us.”
Buffington adds, “One of the other things that really excites us about Crescerance is that the technology is so ubiquitous that it can be leveraged in other industries (financial services, local government, etc.) We are seeing continued interest in the mobile Platform-as-as-Service from many other sectors and that creates entirely new revenue opportunities for Crescerance.”