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Sun, 23 Feb 2020 06:10:03 -0600
2016-09-21 Print

Yellowdig Raises Additional Funding from Two New York City VCs


More VC's lured to attractiveness of Yellowdig investment.

FOR IMMEDIATE RELEASE

Philadelphia — Yellowdig, a SaaS provider of a leading social learning platform, today announced investment from two different New York City VC funds – QB1 Ventures and Rosecliff Ventures. The investment is led by Alex Swieca of QB1 Ventures, and by Michael Murphy of Rosecliff Ventures.

Shaunak Roy, Founder & CEO of Yellowdig, said, “I am excited to have Alex Swieca and Mike Murphy backing us to shape the future of education. Yellowdig is rapidly signing long-term contracts with many top US universities and has a very healthy sales pipeline. This additional investment from QB1 and Rosecliff will be used to accelerate business development and to further build out our technology platform.”

Northwestern University, one of America’s leading universities and one of Yellowdig’s early clients, recently released a video touting their positive experiences with Yellowdig. Students, staff, and faculty are using Yellowdig to create a social learning experience, engaging students, and empowering staff and faculty to serve their students in ways they never thought possible. Following on its transformative success at Northwestern and at other top universities, Yellowdig aims to rapidly expand its reach to many of the top 100 US universities.

Talpion Fund Management, the major backer of QB1 Ventures, is led by veteran hedge fund investor Henry Swieca. Henry Swieca said, “We are in the first half of a technological shift in how we educate our students. Yellowdig’s current and large potential customer base illustrates universities’ desire to integrate technology with learning.” Henry previously co-founded Highbridge Capital Management, a $25 billion multi-strategy alternative investment management firm, which was acquired by JPMorgan Chase in 2009.

Michael Murphy said, "As a father of six children, education is very important to me. I believe strongly in the need for an innovative educational system. The children of today should be able to benefit from recent advances in technology. While technology is growing at a rapid rate, we need to ensure that the same advances are showing up in classrooms. Yellowdig has shown the promise of improving the way students learn in the classroom. Our goal is to work alongside Shaunak and the Yellowdig team to bring this new technology to students and teachers.” Michael is the Founder & CEO of Rosecliff Capital, a fully diversified investment firm and Rosecliff Ventures, a venture capital firm. Murphy is a proud investor and supporter for educational focused startups. Recently, Murphy has been invited to help launch and act as a mentor at NYU's latest startup accelerator program, StartED. His duties consist of mentoring and advising early stage entrepreneurs in the EdTech community. Murphy is also one of the founding partners at CSNYC's Computer Science For All, a 10-year, $80 million plan.

According to Alex Swieca, founder and managing partner of QB1 Ventures, “We are always striving to identify companies and management teams that are positioned to capture future market trends. As a recent graduate from the University of Michigan, I would have loved to use Yellowdig’s platform to engage in course material during class lectures as well as more seamlessly collaborate with my peers.”

With this investment, Yellowdig will add a New York City office and has added Akiba Covitz to its senior management team, as Head of Business Development. Akiba previously served as associate dean and a member of the faculty at Harvard Law School, as vice president for university partnerships at edX, the online learning company, and as senior vice president at Academic Partnerships, a leading online program management provider.

Alex and Michael will join Yellowdig’s Board of Observers with this investment. Previous Yellowdig investors include SRI Capital and 500 Startups.

Shaunak founded Yellowdig in 2014 to follow his passion for education technologies, after almost a decade of progressive senior level roles in management consulting and corporate America. Shaunak holds a B.Tech from the Indian Institute of Technology (Bombay) and two graduate degrees from the Massachusetts Institute of Technology.

PRESS CONTACT
Shaunak Roy| pressyellowdig.com
www.yellowdig.com
Alex Swieca| infoqb1ventures.com
www.qb1ventures.com
Michael Murphy| mmurphyrosecliffvc.com
www.rosecliffvc.com

About Yellowdig

Yellowdig has completed pilots across many of America’s best universities. Yellowdig is a carefully designed hybrid between a university social network and a course management tool. The Yellowdig platform helps establish knowledge communities, increase students’ knowledge of current affairs related to coursework, and dramatically increase course participation and engagement. Learn more at www.yellowdig.com.

About QB1 Ventures

Alex Swieca is the founder and managing partner of QB1 Ventures, a NY-based venture capital firm focusing primarily on US and Israeli companies. Some of the firm’s investments include: Replay Technologies (acquired by Intel), WSC Sports Technologies, and GameCo.

About Rosecliff Ventures


Rosecliff Ventures is a venture capital firm based in New York City. They invest in startup enterprises and innovative ideas that have substantial growth potential. The mission is to partner with dynamic founders and assist them in building exceptional, valuable companies. Rosecliff seeks to invest predominately in early stage companies.

 
Contact Info
Scott Barnette
230 South Broad St
Philadelphia PA
19103

Phone: 919-539=9206

Website: http://yellowdig.com