We are delighted to have the UCLA Venture Capital Fund as a strategic investor. The Fund members have been great mentors that we will continue to leverage as we accelerate into the commercialization and growth phase.
Los Angeles, CA (PRWEB) November 20, 2013
SmartestK12, an educational startup focused on transforming K12 classroom interactions by utilizing technology to improve student achievements, announced today that the UCLA Venture Capital Fund has made an initial investment in the company and has also named SmartestK12 as the "Most Promising UCLA Startup Company". The investment and award were revealed at the UCLA Venture Capital Fund’s Annual Dinner.
"We are delighted to have the UCLA Venture Capital Fund as a strategic investor," said Craig Jones, CEO of SmartestK12. "The Fund members have been great mentors that we will continue to leverage as we accelerate into the commercialization and growth phase of our business. As a UCLA Anderson MBA candidate myself, I know the value of being able to tap into the vast UCLA network and look forward to the leg up it will give SmartestK12 – while also giving us the opportunity to give back to further UCLA entrepreneurship."
The UCLA Venture Capital Fund hosted two events over the summer for the 2013 Startup UCLA accelerator class, in Los Angeles and the Bay Area, for teams to meet with local investors and entrepreneurs. In addition to giving the entire accelerator class invaluable experience honing their business plans, pitching potential investors and making critical connections in the Silicon Valley and Southern California investment communities, the Fund was able to evaluate startups for potential investment. SmartestK12 stood out as the best of the startups for the Fund’s goal of furthering UCLA entrepreneurship.
With SmartestK12, teachers can interact with students and parents seamlessly. All classroom materials are assigned through SmartestK12’s toolset. Students can answer assignments on any device including iPads, computers or mobile devices and once assignments are completed the toolset automatically analyzes the results and reports back to teachers, parents and students. Parents are then provided free online resources such as the Khan Academy for students to utilize to work on their individual needs. Teachers can track students’ growth across standards using the SmartestK12 toolset.
"We selected SmartestK12 for an investment because they created an elegant solution to enhance student tracking and engagement in the classroom," said Michael Silton, the UCLA Venture Fund Executive Director. "The co-founders showed clear dedication in executing their business plan and have made significant progress in building impressive customer and industry relationships.
About The UCLA Venture Capital Fund
The UCLA Venture Capital Fund is a community of UCLA alumni and friends whose core purpose is to support and promote entrepreneurship at UCLA. The VC Fund mentors faculty and students, fosters the growth of UCLA-related companies, and connects entrepreneurs and investors with an interest in UCLA. Members have the opportunity to advise campus entrepreneurship initiatives, raise funds for UCLA startups, and ultimately to advance UCLA as one of the top entrepreneurial universities in the nation. More information about the VC Fund and how to join is available at http://venturecapital.ucla.edu/.
SmartestK12 aims to help teachers better understand their students. The Los Angeles based company was founded in 2013 by UCLA M.B.A. candidates Craig Jones and Kevin McFarland. SmartestK12 premise is that education is the foundation for human progress, and that each student deserves an education custom built to her or his needs. SmartestK12 transforms all assignments, assessments or classroom interactions into rich student data, allowing teachers, parents and school administrators to track each child’s learning in real-time and take actions to ensure academic growth. For more information, please visit http://smartestk12.com/, email craig(at)smartestk12(dot)com, or call 513-673-8278.