StudyBlue, a startup that helps high school and college students study online, announced today it has raised $3.65 million.
The service allows students across the world to make and share lecture notes and flashcards around their courses. Students can even team up with classmates, share material, and have the service transcribe their handwritten class notes. A useful feature on the site helps students assess their readiness for exams by generating quizzes based on their notes.
The service operates on a “freemium” payment model. Most features are free to use, but members can elect to upgrade to StudyBlue+, its premium version, for a day ($4.99), month ($9.99), or year ($59.99), to access features such as comparing and combining notes with other users on the site.
Launched in 2008, StudyBlue has expanded from 25 campuses to more than 500 and has over hundreds of thousands students enlisted on its platform. With its newly raised capital, the company plans to expand to more campuses and extend its accessibility across mobile devices.
StudyBlue is based in Madison, Wisconsin, and has raised $2.85 million over the past two years, bringing its total funding to $6.5 million.