Strategic Education, Inc. (NASDAQ: STRA), a Herndon, VA-based company dedicated to enabling economic mobility through education, launched a venture initiative.
Washington, DC-based SEI Ventures is a seed-stage venture fund that will support pioneering education tech startups focused on transformational technologies and student success. In addition to providing capital, the fund will offer portfolio companies the opportunity to pilot technologies across its broad set of existing institutions, including Strayer University, Capella University, and coding boot camps.
Led by Terry McDonough, Managing Director, SEI Ventures plans to issue a formal request for higher education technology companies to apply for funding in 2019. When selecting companies to invest in, SEI Ventures will focus on the following criteria:
– improving teaching and learning through artificial intelligence and machine learning;
– removing friction from non-instructional student experiences;
– encouraging student persistence; and
– designing the future of work.
The fund is to make its first investment in ecree, an automated assessment tool that allows students to improve their writing through real-time feedback on written assignments.