New EdTech Company in Canada: Crowdmark
As PEHub Canada reports, there is a new EdTech entrant, this time hailing from Canada: Crowdmark. The company offers to cut the time educators spend on grading the students’ exams and grades.
Founded in 2012 by James Colliander, a math professor at the University of Toronto, and CTO Martin Muñoz, Crowdmark was launched through an accelerator program organized by University of Toronto Early Stage Technology (UTEST). The co-founders then tested their prototype at 2012 Canadian Open Mathematics Challenge, where as many as 70,000 pages of handwritten math papers are usually submitted. Mr. Colliander and Mr. Muñoz report that the grading time was halved compared to 2011.
The company received $600K from UTEST, Connaught Fund, MaRS Innovation and RIC Centre Venture Start. Mr. Colliander says that Crowdmark represents part of the rising tide of EdTech companies in North America, citing Coursera as an example. Mr. Colliander also said that Crowdmark “will one day be a billion-dollar concern.”
What do you think?
For more, please read the article in full here: http://www.pehub.com/2013/08/19/ed-tech-startup-crowdmark-gets-top-grades-first-adopters-will-vcs-follow-suit/
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.