WEEHAWKEN, N.J., Aug. 1, 2005 (PRIMEZONE) -- ClassLink, Inc., the leading instructional platform provider for kindergarten through grade 12 classrooms, announced the closing of a $3 million funding round led by Ascend Venture Group, LLC. Serving the educational market since 1998, ClassLink has a reputation of providing software tools that address the unique demands of the K-12 market.
"ClassLink has had tremendous success helping school districts improve the quality and effectiveness of classroom technology," said Roszell Mack, a partner of Ascend Venture Group. "We are excited to join them and support their expansion to serve schools across the country."
"We are extremely pleased that Ascend Venture Group supports ClassLink's mission to deliver a customized, robust instructional platform to every teacher and student across the United States, " said Berj Akian, ClassLink President and CEO. "ClassLink has a proven record of delivering high quality technology solutions designed to meet the unique needs of the K-12 instructional setting. This financing is a testament of market adoption of our product and ClassLink's growth potential."
The modular learning platform, the ClassLink System 2000(tm), transforms how schools use and manage computers in the classroom. With ClassLink, teachers, students and administrators enjoy seamless access to individualized learning environments from any computer in the school, community or home. The funding will be used to expand business and market share.
ClassLink was named one of the fastest growing technology companies in New Jersey by Deloitte & Touche's prestigious Technology Fast 50 Program for three consecutive years. ClassLink was also recognized as a finalist in the prestigious CODIE Award competition. Sponsored by the Software & Information Industry Association, the CODIE awards recognize the best and brightest of the software industry.
About Ascend
Ascend Venture Group, LLC is a private investment management firm headquartered in New York City. Ascend combines highly sophisticated financial expertise with unique access to investment opportunities to create attractive risk/reward portfolios and partnerships for its investors. The Firm targets investment opportunities in the applied technology and for-profit education industries. Ascend currently manages more than $130 million and has made/sponsored investments in more than 30 companies. For more information, please visit www.ascendventures.com.
About ClassLink
ClassLink is the leading instructional platform provider for K-12 classrooms. ClassLink's award-winning learning platform, ClassLink System 2000(tm), empowers schools with tools that offer individualized learning environments from any computer in the classroom or at home. ClassLink software facilitates real time communication and collaboration between teachers and students. For administrators and technologists, ClassLink's software streamlines day-to-day operations and provides in-depth analysis on the correlation between application usage and learning outcomes. The ClassLink System 2000(tm) is a suite of software products, including: ClassLink LaunchPad(tm), an electronic gateway for students and teachers; ClassLink Portfolio System(tm) , an electronic collection of student work tied to rubrics and standards; and ClassLink Information Console(tm) (CLiC(tm)), designed for school technologists to manage their instructional technology infrastructure. To learn more about ClassLink, visit www.classlink2000.com or call 888-963-7550.