Koofers, a site that helps students swap old tests, share notes, view grades, and post opinions of teachers, just received an infusion of $500,000 of a $2 million dollar round of financing. They were also recently named one of the top 25 finalists (out of 600) of Facebook's fbFund developers competition, which already received $25,000 from and in the running to receive the grand pot of $225,000. They'll be using the money to expand to more campuses past the 25 that they're already at.
Their name refers to an old term coined "coofers" in the early 1940's, which refers to old tests or homework that are available to students to study with for new tests. The term is actually specific to Virginia Tech where the startup was founded. LaunchBox Digital, an incubator similar to Obsidian Launch and Y Combinator, helped with the initial seed financing that got followed up by New Atlantic Ventures and Altos Ventures in the recent round.
The investment round follows a trend of similar investments that are geared towards educational sectors and startups that aim to help students and those interested in continuing education. Here are some examples:Continue Reading...
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