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Print Edition StoriesThursday, February 25, 2010
ConnectEDU collects $3.5M in latest funding
By Mass High Tech staff
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Boston’s ConnectEDU Inc. has taken in $3.5 million of a proposed $4 million of new funding through debt and securities options or warrants, according to federal documents. Also this week, the company named a new chief financial officer in Bryan Gleason.
The latest round, disclosed in a filing with the U.S. Securities and Exchange Commission, comes after the latest venture financing round, which closed in July of 2009. The online college and career planning network at that time won $8.2 million in a Series C funding that surpassed company expectations.
No investors in the latest round were disclosed in the filing, which listed 50 participants.
Founded in 2002, ConnectEDU develops technology designed to provide students, educators and employers with solutions to navigate education and employment transitions. Its service is free for high schools and their students. ConnectEDU generates revenue by charging colleges and employers that use the tool.
Prior to joining ConnectEDU, new CFO Gleason held several senior management roles at Burlington’s Evare LLC, serving as CFO, COO and ultimately CEO. As CEO, he facilitated the acquisition of Evare by SSC Technologies Inc. of Windsor, Conn., in March of last year.
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