The spring semester has wrapped up and it’s been an exciting year for Packback. We started the year as a team of 22 working to find our place in education. Since then, we’ve secured $4.2 million Series A funding, added 20 new team members and reached students at more than 100 universities! We’re proud of what we’ve achieved so far and we’re excited to take our next steps in pioneering the future of curiosity and critical thinking. What does that look like? This year we are excited to continue growing our team, improving our product and expanding our footprint to awaken and fuel the lifelong learning in every student!
Packback adds $1.5 million of new capital with participation from industry strategic investors as the Chicago-based education technology company doubles its user-base since the last semester and anticipates over 70,000 new students at 50+ universities using the service throughout the academic year.
The investments from University Ventures, the premier investor in education technology focused on higher education, as well as ICG Ventures LLC, the corporate venture capital arm of Ingram Content Group, will help Packback continue to scale nationally not only through capital, but strategic expertise as well. Packback intends to raise additional funding through an upcoming Series A investment.
Follow along with the update on the newly launched Packback Engineering Blog!
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Some of you may be wondering what Packback has been up to lately. About a year ago, we claimed space in our own office in Chicago’s South Loop and introduced our 1.0 platform, Packback Answers. Shortly after, in the Summer of 2016, we launched our 2.0 platform, Packback Questions. We shared about this update back in August, including the feature tab, how the clusters feature makes every class size feel intimate, information about our community management and a tutorial for new users to Packback Questions.
So what have we been up to since August? We’re glad you asked!
The Packback Product Team has integrated Rich Text Editing into the Packback Questions platform to allow every student to fully express their ideas through videos, images, formatted text, formulas and more. Communities on Packback span a huge range of majors, and the introduction of Rich Text Editing provides all of our communities with the tools to fully and clearly explore any subject matter.