INSUBCONTINENT EXCLUSIVE:
Chegg, a public edtech company, took part in
According to Frank founder and CEO Charlie Javice, previous investors Aleph and Marc Rowan took part in the round alongside new investor
GingerBread Capital.The education funding-focused startup last raised known capital in December of 2017, when it closed a $10 million Series
Frank raised a seed round earlier that same year worth $5.5 million.According to Javice, her firm closed its round in early March, before
the recent market carnage
Bearing in mind that there is always lag between when a funding round is closed and when it is announced, the new Frank round is on the
money, as A Technology News Room wrote when covering its Series A, helping students get through a thicket of forms and aid to collect as
much aid as possible while avoiding borrowing.American higher education is too expensive, and applying for financial help is irksome and
I can safely report that sans quoting an expert, as I had to go through it as a student and only finished paying my student loans last
students avoid taking on so much red ink in the first place.According to Javice, lots of students fail to finish signing up for federal aid
programs, and some students wind up dropping out of programs before finishing them, leaving them saddled with debt but no degree
to Javice, Frank was a little early to rethinking its own growth/profit trade-off than the rest of the startup world, which woke up when
WeWork filed to go public and was quickly booed off Wall Street
In mid-2019, Frank slowed growth to get closer to the margins it wanted
CEO, it was in a comfortable cash position before this round, which she described as more a vote of confidence than a round of
necessity.Which brings us to today, and the new, COVID-19 world
accrue help; Slack and Zoom and other remote work-friendly companies have also seen their fortunes turn for the better in recent weeks
And now with $5 million more on hand, it can certainly meet new demand.Update: An earlier version of this article listed Chegg as the
The post has been amended.
