CHICAGO, July 14, 2020 /PRNewswire/ -- TeleTeachers, Inc., a leading provider of engaging and effective technology-enabled learning and therapy solutions is pleased to announce that it has completed a $2,785,000 Series A equity private placement, with lead investors Seyen Capital's Senior Managing Director George Spencer and Jerry Putnam (founder of Archipelago Holdings, and former Chairman of OptionsHouse and President of the NYSE). Mr. Putnam and Mr. Spencer bring long and successful track records in venture investing and will serve on the TeleTeachers Board of Directors, representing the investor group, along with TeleTeachers Founder and CEO Emily Smith, a certified speech-language pathologist who has devoted her career to building effective technologies and service programs that enable equitable access to education for students requiring special education.
TeleTeachers will use the investment to expand its provider base and satisfy a surge in demand, hastened by a nationwide focus among public K-12 school districts on distance learning and educational equity.
"Now is an incredible opportunity to innovate in education and bring unparalleled value to schools and students in this critical time of online learning adoption," said Smith. "As a company, we are ready and excited to continue partnering with school districts nationwide to ensure that every student has access to the services they need to succeed and to support special education teams in delivering and implementing distance learning and therapy for students with disabilities at scale. We will be successful when every student requiring special education has an exceptional experience and outcome with online learning. This funding round provides the resources to make tremendous progress toward that vision."
That vision includes a technology platform designed to help school leaders more effectively manage, deliver, and document online special education services. The platform allows schools districts to transition special education instruction and related therapy services to remote as needed, recover funding for eligible services from complex systems like Medicaid, and have access to a growing roster of certified and experienced teletherapy providers, who work as an extension of school district partner teams to deliver hard-to-find services.
"I am highly confident this round will position TeleTeachers and Emily to rapidly capitalize on the current market demand for efficacious online tech-enabled therapy services for schools and their students," said Spencer. "TeleTeachers' platform is the best I've seen and I'm looking forward to an exciting future."
Added Nick Hurtgen, managing director at City Capital Advisors, and exclusive financial advisor to TeleTeachers, "We are confident that this raise will prove to be a pivotal step in the company's long-term success. We are confident that Emily and TeleTeachers can effectively address the increasing demand for edtech business services, especially in terms of tele-education and teletherapy. We are enthusiastic about and eager to follow TeleTeachers' growth into an industry leader in the coming years."
Founded in 2019 and based in Chicago, TeleTeachers is a leading provider of engaging and effective technology-enabled learning solutions for students with disabilities. The TeleTeachers platform provides high-quality, federally-mandated special education and related therapy services through video conference via fully certified, online providers, to students from anywhere. TeleTeachers also enables schools to internally deliver and document online sessions and seamlessly recover Medicaid funding for eligible services. Building upon the momentum of virtual learning in the current education environment, TeleTeachers powers dynamic solutions for schools requiring education technology and support to meet federal IEP requirements, support special education teams and effectively engage students and families. For more information, please visit https://teleteachers.com.
About Seyen Capital
Seyen Capital is a Chicago-based venture capital firm that invests in information technology and software companies at the venture/growth stage of their development cycle. Seyen's typical target company has developed its initial product and secured its first customers. Geographically Seyen focus on areas away from the traditional hotbeds of Venture Capital, as they have found that towns such as Chicago, Nashville, Minneapolis, Atlanta, Dallas, Austin, Denver, Tampa, Philadelphia and New York provide adequate infrastructure to build quality businesses and benefit from being outside the limelight of Route 128 and Silicon Valley. For more information, please visit http://www.seyencapital.com.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-driven investment banking advisory firm. Each of City Capital's Managing Directors has more than 25 years of investment banking experience, offering clients judgment and transaction management expertise honed from successfully executing more than 500 merger & acquisition and capital raising transactions, collectively, over their professional careers. Our client engagements are managed exclusively by experienced senior investment bankers, allowing our business owner clients to realize maximum value for their companies, often exceeding their original objectives. For more information, please visit https://www.city-cap.com.
Press Contact: Emily Smith CEO