Press release: Global EdTech Company Receives A-Grade: IntelliBoard Closes Series A Investment
IntelliBoard Inc., the premier reporting and analytics platform for learning management systems (LMS), such as Blackboard Learn, Brightspace | D2L, Canvas and Moodle-based systems, today announced it has closed on a $3.4 million Series A investment from a variety of investors including Connecticut Innovations, Flashpoint VC, Smarthub VC and the company’s previous Series Seed investor, LETA Capital. The Connecticut-based company will use this investment to continue its growth momentum.
As the landscape of and demand for eLearning changes daily, this investment will be used by the company to execute its aggressive growth strategy and better serve its global client base with new features and platform enhancements.
“In 2015, we saw the need for data to be available to those who want to learn,” said Anatoliy Kochnev, co- founder and CEO of IntelliBoard. “Using data to improve the learning process is so important for educators, administrators and learners. The true value of data visualization lies in its ability to help show—not just tell—the story of the learner. This is what we are doing today. This investment will push us farther, faster, and it will make our product more robust, allowing us to further the education process.”
“We are impressed with how much IntelliBoard has accomplished in such a short time,” said Douglas Roth, managing director of investments at Connecticut Innovations. “There has been, and will continue to be, a growing conversion to online delivery of learning across the K-12, higher education and corporate markets. IntelliBoard’s robust platform enables critical insights necessary for the effective and successful distribution of educational programs.”
“IntelliBoard is the best BI solution for the growing learning management systems market. The company is doing a great job of transforming the learning process and increasing its effectiveness,” added Alexander Chachava, managing partner at Leta Capital. “Anatoliy and his team have the long-term vision and willingness to build a world-class company; that’s why we continue to support them.”
“We are intrigued by the company’s mission to enhance the efficiency of existing online education platforms with data,” said Michael Szalontay, Flashpoint VC managing partner. “Online education will proliferate in the near future, and only deep data will bring a real understanding about the issues that online education platforms face. The company’s founders have impressed us with their progress to date and unique positioning in the market, and we are proud to support them during these testing times.”
“IntelliBoard helps all parties create strategic value and increase efficiency,” said Bogdan Iarovoj, managing partner at SmartHub. “Education service providers can get detailed feedback about how learners follow courses; companies can use information on best performers to develop best practices; students can trace their progress and plan their educational activities in a more intelligent and strategic way. These solutions will play a crucial role in implementing distant learning tools.”
IntelliBoard provides insights and delivers educational decision makers the data intelligence to influence learning delivery and improve overall learner performance. Specific tools within IntelliBoard help to highlight high- and low-performing learners through tracking, compliance measurement, competencies and engagement.
In 2020, IntelliBoard will be developing ongoing feature improvements based on client needs; launching several new products, including a focus on attendance; making recommendations for future coursework; and strengthening LMS integrations for the Blackboard Learn, Brightspace | D2L and Canvas LMS platforms. IntelliBoard will extend the capabilities of its AI tool and improve IntelliBoard and eCommerce integrations, adding to its comprehensive suite of reporting and analytics tools, including more than 120 reports, monitors and analytics.
IntelliBoard.net offers analytic and reporting services to education communities and institutions that use Blackboard Learn, Canvas, Brightspace | D2L and Moodle-based learning management systems. IntelliBoard extracts the statistical data collected and presents this rich data on a single dashboard in the form of easy-to-read, aesthetic and printable charts, graphs and formatted reports. It is the premier reporting and analytics dashboard. Feel the strength of empowered learning with purposefully built analytics for education and training: the best instantly available, most-simplified point-and-click access to your LMS data to inform your educational business decisions. https://intelliboard.net/
About Connecticut Innovations
Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. CI provides venture capital and strategic support for early-stage technology companies, financial support for innovation and collaboration, and connections to its well-established network of partners and professionals. For more information, please visit www.ctinnovations.com.
About Flashpoint VC
Flashpoint (https://flashpointvc.com/) is an international technology investment firm that manages equity and debt funds. Flashpoint VC invests in international software companies with proven business models, launched by founders originating from Central and Eastern Europe, Israel, Baltics, Finland and the CIS. It focuses on B2B/B2C SaaS solutions in the initial revenue stage (Series A). Flashpoint’s team includes 18 professionals working at local offices in Budapest, London, Riga, Tel Aviv and Warsaw.
About LETA Capital
Venture capital firm LETA Capital (https://leta.vc) invests in breakthrough technologies using a data-driven approach to select the best startups. Focusing on the most promising markets, LETA Capital invests in B2B and B2C software developers. Priority sectors for the current active fund are corporate SaaS, machine learning and artificial intelligence technologies, robotics and VR/AR. The current portfolio includes more than 30 companies.
The ideal investment targets for the LETA Capital ll Fund are companies created by Russian-speaking entrepreneurs that operate in global markets. These companies are innovative IT businesses that use the latest technologies to change traditional approaches in legacy industries at the late seed, Series A and early-growth stages.
About Smarthub VC
SmartHub (https://smarthub.vc) provides investment services for high-tech startups with high growth potential. Founded in 2014, SmartHub is a steadily growing community of early-stage investors, supporting emerging leaders with global aspirations in various digital-age industries. Today, the portfolio includes over 40 companies from Europe, the US, Russia, Australia and Asia.