Flashnotes, a Boston, MA-based online marketplace that allows students to buy and sell class material, has closed a $1.8m seed funding.
The round was led by Ryan Moore of Atlas Venture and Jordan Levy of Softbank Capital, with participation from angel investors Michael Lazerow (Founder, Buddy Media), Paul Sethi (Founder, RedBooks), Paul Tedeschi (Founder, Mr. Youth), Sachin Jade (Klifer Capital) and Abigail Coxsen.
The company intends to use the capital to enter new markets and roll out innovative offerings.
Co-founded by CEO Michael Matousek, and CTO Steven Maggs, Flashnotes enables students to set their own price for the notes they upload and the flashcards they create and earn up to 80% on each sale. It also features a crowd-sourced rating system that prioritize content incentivizing the best note takers. The platform offers a money back guarantee.
Flashnotes is currently available in 75 schools.
FinSMEs
26/10/2012