Montreal-based edtech company GradeSlam has rebranded as Paper and raised US$7.5 million in financing. Reach Capital led the round with participation from Bullpen Capital, Birchmere Ventures, BDC Capital, Real Ventures, Google, Red House Education, Edovate Capital, and Anges Quebec.
MONTREAL, March 11, 2020 /PRNewswire/ — GradeSlam, the education company founded by McGill University graduates Philip Cutler and Roberto Cipriani, announced today that it has raised 7.5 million USD in funding. Along with the funding announcement, the team has unveiled the rebrand to Paper.
The funding, led by Reach Capital and supported by Bullpen Capital, is intended to accelerate the rapid growth of the business. Also participating were existing investors Birchmere Ventures, BDC Capital, Real Ventures, Google, Red House Education, Edovate Capital, and Anges Quebec. GradeSlam’s rebrand to Paper emphasizes the importance that the Educational Support System places on supporting students, teachers, and administrators.
“Since inception, our mission has always been to provide true educational equity,” Cutler said. “Paper solves a compelling problem facing our public school districts – how do you guarantee every student has an equal opportunity to succeed? We support every student in their individual learning style while giving teachers the resources they need to be effective educators.”
The first in its category, Cutler is confident that Educational Support Systems (ESS) will be a transformative part of our K-12 education system, improving student achievement and increasing teacher effectiveness.
“When a school district implements Paper, they are taking real action. They are sending a message to their teachers, students, parents, and administrators that their community is going to be supported,” Cutler said when asked why districts partner with Paper. “We are simply enabling the incredible district administrators to fulfill their vision of what education looks like.”
Paper’s investors share the founders’ confidence. “Not all students are receiving the same opportunities and resources they need to excel,” said General Partner of Reach Capital Wayee Chu. “Studies continue to show that individualized learning and intervention can positively impact confidence, problem-solving skills, and intellectual independence, which is why we’re proud to support the vision Paper is putting forward.”
“Having had a front seat for the growth GradeSlam has had over the last few years, we recognize the momentum they’ve developed as a result of their team’s passion and dedication,” said Ned Renzi, Partner at Birchmere Ventures. “The 2020-21 school year will be another inflection point for how we can apply innovation in education to create meaningful, lasting and positive change.”
Cutler concluded the announcement by saying, “We are incredibly proud of what we have accomplished, but this is only the start. We are tackling one of the most important and impactful challenges facing society. Education is equity, and goes far beyond the classroom. This is what motivates us every day.”
The team also stressed that the experience of current students and teachers will remain unchanged until the end of the school year. Major enhancements will be revealed at the start of the 2020-2021 school year.
Headquartered in Montreal, Quebec, Paper is the leading Educational Support System. Driven by a mission to deliver true educational equity, Paper’s ESS increases student achievement and teacher effectiveness. Paper has partnered with some of the most influential districts including Irvine Unified School District, Springfield Public Schools, Sequoia Union High School District, Denver Public Schools, Tustin Unified School District and will always be driven to seek out new means of making learning more accessible, convenient and equitable.