Blog, NewsBy Tribeca Venture Partners
We’ve been talking about education and edtech recently given the Back to School buzz in Tribeca. New York is the nation’s second-largest ecosystem for edtech and has been growing over the past few years. With parents, educators, employers, and entrepreneurs looking to solve major problems around the $1.3 trillion U.S. education industry, there remains ample opportunity for disruption in the space.
Going forward, the entrepreneurs we think will produce the biggest wins are building companies focused on accessibility, novel uses of artificial intelligence, AR/VR (particularly corporate learning, professional trades, and higher education), and personalization.
While TVP looks across the entire edtech spectrum (K-12, higher education, and continuing education), we lean heavily towards edtech companies that exhibit the following traits:
Demonstrable ROI: The future of education is one where return on investment and/or time will be a requirement for adoption and success.
Short Sales Cycles: This helps to drive prospecting and market expansion. Long sales cycles have been the Achilles heel of many promising edtech startups.
Direct Customer Value: Paying customer and product end-user receiving value are ideally one and the same (student, parent, teacher).
Multiple Revenue Streams: While we back monoline businesses, the initial product should be naturally extensible to adjacent products and services to maximize LTV per customer over time.
CommonBond Fintech and edtech company on a mission to give students and graduates more affordable, transparent, and simple ways to pay for higher education. By designing a better student loan experience that combines advanced technology with competitive rates and award-winning customer service, CommonBond has funded over $2.5 billion in loans, partnered with over 300 corporate clients, and currently serves over 100,000 members.
Ozobot Award-winning, personal, pocket-friendly robots that teach kids the building blocks of coding.
Thinkful Career accelerator and online coding boot camp. The local mentorship model enables students to gain the technical skills necessary to switch careers or advance in their current profession.
Vivvi Early learning and employer-sponsored childcare for kids and modern parents. Vivvi is solving a massive problem for parents and employers: logistics and high costs of childcare.
If you’re an entrepreneur (particularly in the NYC area) and believe your vision of the future aligns with our thoughts above, please reach out to us! We’d love to have a conversation.