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Education upstart SynapticMash gets $3 million

SynapticMash is less than 10 months old. But the Seattle education startup is growing fast, approaching 30 employees and already securing contracts with about half a dozen school districts.

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And now the startup has reeled in $3 million, money it will use to keep up with demand from states that are asking the company to help with various online education projects.

"We are sprinting," said SynapticMash Chief Executive Ramona Pierson, who is best known for creating The Source for the Seattle Public Schools. The online resource, launched in 2005, allows parents and students to view classroom assignments, grades, attendance, school news and other items.

SynapticMash is taking that concept to the next level, creating a number of online tools for educators, parents and students.

One of its contracts is with the city of Seattle, which is using the SynapticMash platform to collect data related to early learning programs. That information can then be used by Seattle Public Schools to better address needs of students entering the school system. The company also is working on a program with the University of Chicago that would allow students to upload information about themselves in an effort to promote their achievements to various colleges.

The platform is flexible enough to address a number of needs within the education field, with Pierson saying it allows educators to do predictive analysis to understand what is working and not working in a school system.

"We are really using data to transform education," she says. "Basically, we are pushing into the Web 3.0 world, where we use data to drive content. ... A lot of teachers look at data and they go, 'So what does this mean and how do I help these kids?' But now they can look over data and pass over suggestions and curriculum ... to transform their classrooms."

Investors include Raycliff and Vantage Partners, both out of New York. Microsoft Corporate Vice President Debra Chrapaty and Intuit director Chris Brody are board members.

In addition to the $3 million capital infusion, SynapticMash is fueling growth the old-fashioned way: through sales.

"We have been making money, so we have been able to close contracts as we move forward because the tools are so interesting to people," said Pierson.

Posted by at July 1, 2008 7:15 a.m.
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