Neverware, a NYC-based startup that provides schools with a solution to improve performance of old computers, raised $1m in funding.
Backers included Thrive Capital, Khosla Ventures, General Catalyst, Collaborative Fund, and Nihal Mehta.
The company intends to use the funds to hire new engineers.
Led by Founder Jonathan Hefter, Neverware installs a server that connects to a school’s existing computers to update them with new tools they need to run like new.
When a school signs up, the company’s professional installation team works with the school administration to get the system up and running. Installation and maintenance costs are covered by Neverware for as long as the subscription continues.
The service is based on a subscription model.
FinSMEs
22/05/2013