Central regions | Finance, business | Technology & innovation
Russians in U.S. raise investment in edtech
12 May '20
IntelliBoard, a U.S.-based company of Russian origin offering an analytical platform for education management systems, raised $3.4m from an international investor consortium, Firrma.ru reported.
The consortium features the U.S. institutional investor Connecticut Innovations, a VC fund called Flashpoint, the investment boutique SmartHub VC, and also the Russian venture fund LETA Capital that invested in IntelliBoard in its previous funding round.
The deal is expected to help the edtech company continue growth and extend user functionality.
According to IntelliBoard CEO Anatoly Kochnev, the project was founded in the United States in 2015 to step up the efficacy of online education by introducing an advanced data analysis and visualization system.
The Covid-19 pandemic has wreaked havoc on traditional education formats, causing global interest in technology-assisted remote training to grow exponentially.