In the News | Press Release | June 20, 2012
Pathbrite Secures Series A Funding From Rethink Education
SAN FRANCISCO, CA, Jun 20, 2012 – Pathbrite, the digital portfolio company that enables individuals to go beyond static resumes and other forms of evaluation to vividly showcase a lifetime of learning and personal achievements, announced today that it has secured $2.5 Million in Series A funding from Rethink Education with strategic investment from ACT, the U.S. leader in college and career readiness assessment. The funding will be used for continued product development and user acquisition.
The round brings the total outside investment raised to just over $4 Million which includes a dynamic list of Angel Investors such as: Ben Cohen, Founder of Ben & Jerry’s; Golden Seeds Angel Fund, Silicon Valley; Joshua Mailman, Serious Change, Jalia Ventures; Karen Riley, SVP, Global Services, Siebel Systems, IBM; David Rose, Rose Tech Ventures, Silicon Alley Angels; and Steve Schoettler, Co-Founder of Zynga, Founder of Junyo. Rethink Education Managing Directors, Rick Segal and Matt Greenfield, and ACT’s David Cumberbatch will join Angel Investor Joshua Mailman and Pathbrite Founder and CEO Heather Hiles on Pathbrite’s Board of Directors.
For most young people, getting into the school of their dreams or landing that first internship or job is more competitive than ever. Pathbrite Portfolios are the best way to collect, chronicle and showcase a lifetime of learning and personal achievements, enabling students to differentiate themselves and to stand out from the crowd.
Currently, much of a student’s learning data, including certified transcripts, report cards and earned credentials, has been trapped in digital “walled gardens,” making it difficult for them to easily share this data with potential colleges or employers. Pathbrite offers students the opportunity to aggregate all of their digital artifacts — no matter what kind, no matter the source — into a single place where they are able to curate and publish portfolios for either targeted or broad audiences. By including certified, official transcripts in a portfolio side-by-side other artifacts that tells the whole story of an individual, reliance on outmoded ways to transmit official documents is eliminated. Students can also share their portfolios across their social graphs, including Facebook, Twitter and LinkedIn, to bolster job-networking efforts.
With the Pathbrite Portfolio Platform, employers, institutions, teachers and administrators can better assess academic or lifelong learning progress, predict future performance, and gain institution-wide knowledge of learning outcomes.
The current basic version of Pathbrite Portfolios will always be free to individual users. Overtime, Pathbrite will introduce premium features for both individuals and institutions, for which fees will be charged.
Comments on the News
“Life is an endless series of evaluations, and Pathbrite enables individuals to truly differentiate themselves and to stand out from the crowd,” said Heather Hiles, founder and CEO of Pathbrite. “I’m grateful for the confidence our investors have in our vision and look forward to their ongoing support and guidance as we grow the company.”
“Pathbrite’s vision for next generation Portfolios aligns with our goal to revolutionize the educational experience in a student-centric way,” said Rick Segal, Managing Director of venture capital firm Rethink Education. According to Matt Greenfield, also a Managing Director at Rethink Education, “Pathbrite reinvents the very outdated credentialing and application process.”
“Pathbrite’s vision for changing the way student achievements, credentials, prior learning and experiences are displayed is an exciting advancement in resume and transcript sharing,” said David Cumberbatch, Chief Strategy and Marketing Officer of ACT.