Wednesday, February 9, 2011

Bill & Melinda Gates Foundation Backs Education Software Firm

The Bill & Melinda Gates Foundation has put $2M into a Silicon Valley, social networking and education firm Inigral, the firm said today, as part of a $4M, series B funding round. According to Inigral, the Bill & Melinda Gates Foundation investd $2M as a program-related investment in the firm, the first, direct equity investment by the Gates Foundation for a for-profit company. Inigral develops software which works as a Facebook application, allowing first year students in colleges to connect better with others in the admissions and orientation process. The Gates Foundation said that Inigral's software is "a promising approach toward improving college completion rates in the United States". More information »