Cincinnati-based EdTech platform Abre has raised $24 million in a Series A round to help K-12 schools centralize and make sense of siloed data.
The round was led by PeakSpan Capital, with follow-on participation from JumpStart Ventures, JobsOhio Growth Capital Fund, and Golden Angels Investors. CincyTech is an existing investor.
Abre says the funding will allow it to continue innovating its data solution, expand its market reach, strengthen its team, and capitalize on emerging opportunities across the EdTech landscape.
Abre's software serves as a one-stop-shop for data around social-emotional well-being, enrollment, attendance, intervention, academic performance, and more.
What it Means to Ohio
Abre CEO James Stoffer touts the company as a true “Cincinnati story.”
It was founded in 2017 by a pair of teachers in southwest Ohio, Chris Rose and Zach Vander Veen, who secured seed investment from CincyTech and early support from Connetic Ventures and Allos Ventures.
Abre announced a new governing board with representation from CincyTech.
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James Stoffer – CEO/President/Chair, Abre
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Chris Rose – Co-Founder/SVP of Product, Abre
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Sanket Merchant – Partner, PeakSpan Capital
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Ashley Keating – Partner, CincyTech
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Paula Reed – Chief Strategy Officer, Teachstone
Abre operates in 13 states and works with nearly 100 school districts in Ohio alone.
The $24 million raise is the second-largest of the year in Cincinnati, according to Cincy Inno.
What They’re Saying
"We are thrilled to have the confidence of such a distinguished group of investors at PeakSpan Capital and the ongoing support from many of our early investors. This investment not only validates our vision and strategy but also provides us with the resources needed to accelerate our growth and continue to deliver impactful solutions to our school and district clients as well as their administrators and staff, community partners, families, and students."
- Abre CEO James Stoffer
"We partnered with Abre to compile all of our information in one place to create in-depth student profiles that provide information about the whole child, enabling us to view data by teacher, intervention, grade level, school, and district to make more informed decisions. This allowed us to individualize their education and provide a variety of tailored, relevant enrichment opportunities to strengthen these interests and help prepare our students for a well-suited career path, ultimately leading to a fulfilling life doing what they love."
- Dr. Karen Cheser, Superintendent at Durango School District 9-R
"Abre sits squarely in a thesis we've been developing for years and highlights the importance (and opportunity) behind data intelligence. Districts across the nation are struggling to operationalize student data and effectively provide students with academic, emotional, and community support. The data is alarming, and we must do much more to transform student outcomes fundamentally. We could not be more thrilled to partner with the Abre team to capitalize on the forward opportunity—democratizing data intelligence, transforming student outcomes, and creating what we believe will be the central hub for the modern U.S. K-12 district."
- Sanket Merchant, Partner at PeakSpan Capital and Head of the firm's EdTech practice
This article originally appeared on OhioTechNews.com
