ImpactAlpha, February 17 — Reach Capital has raised $165 million for its latest fund to invest in early stage edtech companies. Reach Capital III is the San Francisco-based firm’s largest fund to date.
“There are still barriers that keep kids – especially Black, Latinx, those from under resourced communities and those with disabilities – away from intriguing, exciting, joyful educational experiences,” writes Reach’s Jennifer Carolan.
Reach has raised $311 million and backed 90 edtech startups. The women-led firm’s third fund is backed by the Ford and Kaiser foundations, Goldman Sachs’ AIMS Imprint, Sesame Workshop, National Geographic Society, Caprock Group and, Hall Capital.
Reach’s portfolio includes Ellevation Education, which offers English-as-a-second-language software for immigrant students; Demos, an app offering math learning for vision-impaired students; and Springboard, which helps low-income students launch tech careers.
Other investments include Epic, ClassDojo, Gradescope, Outschool and Lovevery.