Some big names are contributing to a $1.25 million round of funding for a young Indianapolis technology startup. ClearScholar, which was launched last year, received the support from a group that includes Indianapolis-based High Alpha, Elevate Ventures, Butler University and Cindy and Paul Skjodt. The mobile student engagement platform currently has 10 employees and plans to double its work force by the end of the year.
Simon Equity Partners co-founder Stephen Simon is also an investor. The Skjodts’ investment is through Bulle Investments. The company says the infusion will boost growth in sales, marketing and product development.
Chief Executive Officer Jason Konesco says "I am thrilled with the progress we have made over the past six months and the team we have put together. We are actively in conversations with a diverse group of universities and are seeing that our approach and product is a differentiated market leader."
ClearScholar says its recently-launched Early Adapter Program is slated to be added by nine more institutions this year. The company was the second startup to sprout from High Alpha. High Alpha Partner Mike Fitzgerald says "there is a huge opportunity for educational institutions to embrace emerging technology to drive improved student outcomes and leave tangible impacts on the lives of students. We are thrilled to see ClearScholar’s early traction and believe they have assembled an outstanding team to build a market-leading and industry-defining company."
ClearScholar’s platform includes a mobile student ID and information about events, news and activities tailored to specific interests and needs.