Venture Capital News: Querium Closes Additional Investments
AUSTIN, TX, Developer of the artificial intelligence-based StepWise Virtual Tutor software, announced today that it has secured funding from new investors.
Querium Corporation, developer of the artificial intelligence-based StepWise Virtual Tutor software, announced today that it has secured funding from new investors SustainVC, a venture capital fund that invests in early-stage companies that provide social and environmental benefits, and Austin-based Wild Basin Investments. Current investors also participated. The company will use the funds to significantly expand its A.I. capabilities and to bolster its business development activities.
'Querium's focus on enabling all students to be successful in math and science aligns with our mission as a triple bottom line company supporting people, planet and profits'
'Querium's focus on enabling all students to be successful in math and science aligns with our mission as a triple bottom line company supporting people, planet and profits,' said Sky Lance, Managing Principal of SustainVC. 'Their intention to broadly license their groundbreaking technology means they will be able to reach far more learners, across all socio-economic levels, rapidly, and in a capital-efficient way.'
Rosa McCormick, Wild Basin Investments Managing Director, agreed. 'Querium's experienced management team clearly understands the education market and has developed an exciting new technology that can make a real difference in how people learn math and science.'
Beginning fall 2015, thousands of Texas high school students will use Querium's MathBooster for STAAR Algebra 1 EOC featuring StepWise Virtual Tutor. The StepWise technology acts as either a tutor or a grading assistant for solving problems. In tutoring mode, the personalized and adaptive engine allows students to show their work, intervening immediately when they make mistakes and generating hints when they get stuck. In grading assistant mode, the engine provides partial credit and fine-grained data analysis of students' problem-solving ability. Texas school districts can purchase MathBooster for STAAR Algebra 1 EOC featuring StepWise Virtual Tutor through Austin-based Sapling Learning, a division of Macmillan Publishers, with whom Querium has a distribution partnership.
About Querium Corp
Querium was founded in January 2013 to help 60 million students master critical math and science skills, enabling them to achieve their career goals. Designed for digital natives, the company's mobile learning software delivers smart diagnostics and personalized, bite-sized lessons. Querium licenses its cloud-hosted, artificial-intelligence (A.I.) software products to online learning solution providers. www.querium.com.
About SustainVC, LLC
SustainVC, LLC (www.SustainVC.com) are general partners of the Patient Capital Collaborative (PCC) series of funds that invest for-profit dollars into early-stage companies that are providing meaningful social and/or environmental benefit to the world. PCC sources its investment opportunities though Investors' Circle (IC), the oldest, largest and most successful early-stage impact investing network (www.investorscircle.net). Together with hundreds of angels, venture capitalists, foundations and family offices, IC has propelled $200 million plus $4 billion in follow-on investment into 300 enterprises dedicated to improving the environment, education, health and community.
About Wild Basin Investments, LLC
Wild Basin Investments, LLC (www.wildbasininv.com) is a closely held investment firm located in Austin, Texas with a strong portfolio emphasis in early stage equity.
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