Pathbrite Secures $4 Million in Series A2 Financing Round

AUSTIN, Texas, March 4, 2013-- Pathbrite, a next-generation education portfolio platform company that enables educators and students to improve the way they teach and learn, announced today that it has completed a $4 Million Series A2 financing round that extends the $2.5 Million Series A financing round announced in June 2012. ACT, the U.S. leader in college and career readiness assessment, is leading the round of financing with participation by ReThink Education, Josh Mailman and existing angel investors. The round brings the total outside investment raised to $8 Million. The funding will be used to continue development of the Pathbrite platform, and to reach more higher education and K-12 schools.

Pathbrite made the announcement at the 2013 SXSWedu conference in Austin, TX where they are a sponsor of the annual gathering of innovators in education technology and reform. Pathbrite founder and CEO Heather Hiles will be participating at this year's SXSWedu in several ways:

• Moderator for SXSWedu Panel Session

• Sponsoring the ePortfolio Meet Up

• Judge for the LAUNCHedu Pitch Competition

• Panelist for the Ideas Are Worthless Conference during SXSW Interactive

•Recipient of the Innovators Award Hosted by Blacks in Technology

"In the year since our launch at the 2012 SXSWedu conference, the Pathbrite team has made me so proud of all that we've accomplished," said Hiles. "We've grown our user base to include nearly 100 colleges and universities, signed distribution deals with both Pearson and McGraw-Hill Education, introduced accessibility features, and completed implementations at a range of public, charter and private schools in districts across the country. The momentum is truly exciting and we're grateful to our investors for their continuing faith in our work."

"At ACT, we believe that assessing and celebrating achievement should always go hand in hand, and that is why we're proud to support Pathbrite as it rapidly builds the industry standard for next-generation education portfolios," said David Cumberbatch, chief strategy and marketing officer of ACT. "Pathbrite is more than a portfolio platform, it's an innovative company that shares our passion for helping millions of people unlock their potential."

Educators and students at innovative schools, colleges and universities across the U.S. use Pathbrite to enhance metacognition and critical thinking skills, improve course-passing rates, and enable project-based learning and peer collaboration.

About Pathbrite

Pathbrite, headquartered in San Francisco, is a next-generation education portfolio platform company that is changing the way people teach, learn and grow at schools, colleges and universities across the U.S. For more information, visit the Pathbrite Press Room, like us on Facebook, follow us on Twitter, or visit our blog.

Contact:
Erin Freeley
646-246-1962
efreeley@prowesspr.com

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