What is BenchPrep?
Founded in 2009 and headquartered in Chicago, Illinois, BenchPrep operates a robust software-as-a-service (SaaS) platform designed to serve the education industry. The company's offerings are geared towards enhancing learning experiences and administrative efficiency within educational institutions and professional development organizations. BenchPrep's strategic capital raises suggest a focus on scaling its technology and expanding its market reach within the competitive EdTech landscape.
How much funding has BenchPrep raised?
BenchPrep has raised a total of $32.4M across 5 funding rounds:
Series A
$2.2M
Angel/Seed
$2.2M
Series B
$6M
Series C
$20M
Debt
$2M
Series A (2010): $2.2M with participation from Lightbank
Angel/Seed (2011): $2.2M led by Lightbank
Series B (2012): $6M supported by New Enterprise Associates and Lightbank
Series C (2019): $20M, investors not publicly disclosed
Debt (2020): $2M backed by PPP
Key Investors in BenchPrep
New Enterprise Associates
New Enterprise Associates (NEA) is a prominent venture capital firm established in 1977, known for its focus on helping entrepreneurs build successful businesses across various sectors.
Lightbank
Lightbank is an investment firm based in Chicago, IL, focusing on funding innovative startups. The company aims to support entrepreneurs by providing capital and strategic guidance.
What's next for BenchPrep?
With significant enterprise-level backing and a recent strategic investment, BenchPrep is poised for accelerated growth. The company is likely to leverage this capital to enhance its platform capabilities, expand its customer base, and potentially explore new market segments within the education and professional training sectors. Continued investment in product development and strategic partnerships will be crucial for maintaining its competitive edge and achieving long-term objectives in the dynamic EdTech market.
See full BenchPrep company page
