Reach Capital has backed more than 120 companies since 2006, among which are billion-dollar startups like Handshake and ClassDojo.
Edtech venture capital firm Reach Capital announced Monday that it has raised $215 million to invest in tech startups that are focused on addressing gaps in education. With the new fund, its largest yet, it plans to back companies located in the U.S. and abroad, especially in Latin America.
Shauntel Garvey, cofounder of Reach Capital, says that for years her firm has successfully spotted startups at the helm of technological disruptions that have spilled into the American classroom. From the introduction of 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 in efficient ways, she says.
Its portfolio includes Handshake, which helps college students find jobs and is now valued at $3.5 billion, the $1.7 billion on-demand tutoring platform Paper and collaborative coding tool Replit, which recently partnered with Google to build a product similar to Microsoft’s AI-based coding assistant GitHub Copilot. Another highlight investment for Reach Capital is communication app ClassDojo, which is used by 50 million students, teachers and parents.
The San Francisco-based venture firm has funded 120 edtech startups total. Some of them have since been acquired by larger companies like
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