Ed tech startup rSmart took $10.75 million for its software designed for to help colleges and universities run more effectively.

RSmart offers two solutions built on open-sourced, community developed software, Sakai and Kuali.

Sakai software is a learning management system that fosters academic collaboration. Teachers and students can use the product to keep track of announcements, schedules, and assignments; collaborate with class members and share files; access supplementary resources; and manage grades and tests.

Kuali software is an enterprise resources planning system. It includes eight tools that colleges and universities can use for financial management, research administration, application development, course planning, library organization, business plan development, HR and Payroll, and mobile connectivity.

Educational enterprises are notorious for relying on outdated systems and amassing paperwork. RSmart has taken these two projects and created a platform that institutions can use to streamline their teaching, learning, research, and administrative initiatives.

By drawing from a open-sourced software, universities can benefit from the collective wisdom of an international community. However, by using rSmart’s products, they also receive the benefits of enterprise-level customer support.

RSmart has over 250 customers, including large state universities like the University of California, smaller private schools such as Brown, community colleges, and trade schools.

This funding will go toward expanding rSmart’s cloud infrastructure, accelerating platform development, and adding more professional services. The money came from ASAHI Net and GSV Advisors, as well as private investors.

RSmart is based in Scottsdale, Arizona and has 79 employees.

 Read the full press release.