The chief executive officer of Indianapolis-based Codelicious says a nearly $4 million seed round of funding is validation for the mission of the education tech company. Codelicious specializes in customizable curriculum for K-12 schools. The seed round is backed by Allos Ventures, an Indianapolis venture capital firm and Boston-based EduLab Capital Partners, a VC firm that focuses on learning and workforce technologies.
In an interview on Inside INdiana Business with Gerry Dick, CEO Christine McDonnell said with the adoption of remote learning during the pandemic, Codelicious has found its footing for growth.
“The ability to deliver a curriculum in a way that empowers educators to engage all of the students in their classroom has been both a great product and wonderful timing for the market,” said McDonnell.
McDonnell says the company’s platform allows individual schools or districts to adapt the technology to meet state mandates. She says schools often lack enough trained staff and resources to address the growing need for computer science education.
The growth is reflected in the company’s bottom line.
“We are accelerating our growth across the United States at over 300% per year. We’re on pace to triple the revenues that we generated last year and are forecasting it again for next year,” shared McDonnell.
The Codelicious platform is being used by more than 100 schools and districts in 23 states, but it also finding interest overseas. The company received signed a contract with a consortium of schools in Egypt.
“It’s really exciting to look at the growth in the fully digital curriculum market,” said McDonnell. “The door is wide open. It’s a $13 billion industry and we’re only seeing a fraction of it looking for accelerated growth in the future.”
The company, which launched in 2018, employs nearly 40 and McDonnell says they’re not finished hiring.
“We are so excited to be on this side of scaling companies. [We’re] really looking for putting the right people in the right positions and finding the majority of them right here in Indiana,” said McDonnell.
McDonnell says the state has an amazing infrastructure for startup businesses, including the investment community and public-private partnerships.
“And I would put the ability to grow a startup community here in Indiana up against any other community in the United States and say, ‘Come watch us,’” said McDonnell.