Quick Key Mobile Raises Additional $200K in Funding
Quick Key Mobile announced that they have raised additional $200K in financing. Below follows the company’s press release provided to EdTech Times:
CAMBRIDGE, MA. Quick Key Mobile, the mobile education upstart hailed as a ‘Cinderella story’ in the media, has added a strategic corporate investor to its list of owners, and closed on $200,000 in new convertible debt. The Educator’s Network, a company providing online education resources for K-12 teachers, invested $150,000 in the company’s convertible debt last week. Later in the same week, the company closed on another $50,000 from angel investor Luke Walling, an independent investor focused on ed-tech and software security. The two investments bring the total amount of convertible debt raised by the company this summer to $250,000.
Quick Key Mobile saves time and promotes personalized instruction, even for teachers and students who learn in paper-based classrooms: the app turns a teacher’s phone or tablet into a mobile paper quiz scanner, and soon teachers will have the option of sending quizzes to students’ personal mobile devices as well.
Hy Schwartz, the Co-President of The Educator’s Network, hinted at the reasons behind his company’s investment: “Quick Key’s mobile quizzing app is the gateway to a platform that will revolutionize personalized instruction in the classroom. And the company’s vision for software that is accessible to the 99% is both a valiant social mission, and good business too.”
According to Walling “Walter knows education, he’s lived it most of his life. This experience has allowed him to build QuickKey to solve a real problem in a way that teachers understand, with best-of-breed technology under the hood that will take the company far beyond mobile assessment.”
In an industry where teachers are generally wary of technological “aids”, Quick Key Mobile has been hailed by educators for the time it saves them hand-grading quizzes and tests. Adam Cohen, a high school civics teacher in Hollywood Florida, says that Quick Key Mobile “will change the way we do business in the classroom.”
According to the education news Website EducationWorld.com, Quick Key Mobile is “spreading like wildfire in classrooms across the country”
The reason for the rare enthusiasm is in the details, according to Walter Duncan, the teacher co-founder of Quick Key Mobile: “In my 15 years as a teacher I was often frustrated by technology that relied on a an Internet connection in order to work. I have spent far too much classroom time waiting for Web pages to load, or for apps that have ‘hung up’. Quick Key’s mobile app and Web app are synced, but the syncing happens only when Internet becomes available, so you don’t need an Internet connection to use it. This makes a huge difference in real-life classrooms.”
The company was founded by Duncan – a veteran K-12 teacher – and Isaac D. Van Wesep (an entrepreneur) 24 months ago. A YouTube video demo of their initial prototype iOS app went viral in February 2013, and then in June 2013 the company completed a successful Kickstarter campaign, raising money from working teachers to finish a beta of the software. To date, Quick Key Mobile has raised $600,000 in equity and convertible debt from angel investors.
Teachers have scanned more than 350,000 quizzes with the app since it was launched to the public in September 2013.
For more information about Quick Key Mobile email Walter@quickkeyapp.com
To read our previous interviews with Quick Key Mobile founders, please read the following:
Latest News from Quick Key – Interview with Walter O. Duncan IV
Q&A with Walter O. Duncan IV of Design by Educators, Inc.
Yevgeny Ioffe, or as people call him, Yev, has been working in both the startup world and established companies. His career spans from joining Xplana Learning as it launched to Cengage Learning to MBS Direct when it acquired Xplana in 2009. Yevgeny brings to EdTech Times his passion for start-ups and technology, along with his interest in the ever evolving world of edtech. Yevgeny obtained his BSc and MA from Brandeis University and MBA from Boston College.