Baton-Rouge based MasteryPrep is one of the fastest growing edtech startups in the country and they have just announced a $500,000 equity investment round led by The Catalyst Fund.
The Catalyst Fund, which is an evergreen fund also based in Baton Rouge, is investing $250,000 in the company.
Jeanne Bayless, CEO of The Catalyst Fund, calls MasteryPrep an entrepreneurial gem in Baton Rouge.
MasteryPrep is a uniquely effective test prep program that combines the moving parts that schools need to increase scores for ACT, SAT, WorkKeys, Aspire and other high stakes tests. Their programs help schools provide best-in-class test preparation to students of all ability levels.
Charlie Davis, MasteryPrep’s co-founder and Chief Strategic Officer said the initial target round was $500,000 but that may increase as interest for the startup has been high.
The funding will help expand the MasteryPrep footprint in addition to their product development, partnership and marketing efforts.
Craig Gehring, the company’s founder and President, said, “I started MasteryPrep with the vision of making education an amazing experience for everyone… Our new investors will be increasing their bottom-line as well as making a direct and measurable impact in the lives of students across Louisiana and beyond.”
MasteryPrep currently has a customer base of over 500 schools in more than a dozen states.