Dive Brief:
- Cengage Learning, which provides educational software, services, and content, is increasing its stake in Boston's ed tech scene, investing in the LearnLaunch startup fund.
- The amount of the Cengage investment in LearnLaunch Accelerator was not disclosed.
- LearnLaunch has invested in 13 startup companies so far, providing each of them with $18,000 in seed funding, desk space, services, and advice in exchange for 6% equity stakes.
Dive Insight:
Cengage is also partnering with the nonprofit Student Voice and hosting three "Student Voice Live!" events to foster conversations involving college-aged students discussing education challenges. Besides financing the LearnLaunch initiative, Cengage's partnership will also involve taking on a mentorship role with the entrepreneurs, BostInno reported. The company will host special events and help ed tech companies in the Boston area collaborate with each other.
Cengage partnered with an ed tech startup in September called Flashnotes, which it ultimately connected to its MindTap platform. MindTap users were able to tap into Flashnotes' study guides, notes, flashcards, video teaching materials, and live video teaching. Cengage was also one of the investors in a multi-million-dollar venture capital investment round in Flashnotes that was announced in September.