San Francisco-based venture capital firm Reach Capital closed its fourth fund with $215M in capital commitments.
The firm aims to invest in AI-driven education, K-12 education support,
higher education, and career upskilling startups in the U.S. and
abroad.
- Fund IV, the firm's largest yet to date, will back startups in seed to Series B stages.
- The current fund's predecessor closed at $165M in February 2021.
- Per Crunchbase, the firm has raised $570M in funds to date.
- Reach Capital's fund is the largest edtech-focused fund, behind Own Ventures' $1B fund, which closed in early 2022.
- The firm has several unicorn startups in its portfolio, including Outschool, ClassDojo, and Handshake.
- Edtech startups secured $16.8B in venture funding in 2021, which nearly halved to $8.89B in 2022.
