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The Venture Codex

NewSchools Venture Fund

1616 Franklin Street, Second Floor, Oakland, CA, 94612, United States

Overview

NewSchools Venture Fund is a not-for-profit organization working to close the achievement gap by funding and supporting entrepreneurs who are creating innovative solutions to the problems in public education so that all children have the opportunity to succeed in college and beyond. Since our founding in 1998, NewSchools has invested $180 million in more than 70 nonprofit and for-profit educational organizations working to promote student achievement. Recognizing that neither private charity nor capital markets alone are enough to solve the problem of education inequality, we blend the best of both approaches to ensure an excellent education is available to every child. We actively share what we’ve learned through our investments, bring together educational leaders from across the country, and advocate for smart policies at the federal level.

Total investments
38
Lead investments
7
Investments · 12mo
1
Active investors
7

Sector focus

  • Venture Capital
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Investment portfolio

  • Donna

    Participated · Seed · Dec 2025

    Donna is a Ghent-based startup that builds a multimodal AI assistant specifically for sales representatives who spend most of their time on the road. The platform integrates with Salesforce, SAP, Microsoft Dynamics 365, HubSpot, Outlook, and Google Calendar, offering personalized pre-meeting briefings, automatic in-meeting note capture, and AI-generated follow-up emails in more than 40 languages. Customers report up to 75 % less administrative work, a 10× boost in CRM adoption, cleaner data, and conversion rates that are up to 20 % higher. Founded by Nicolas Christiaen, Jonas Deprez, and Xander Berkein, the company differentiates itself from generic sales-enablement tools by focusing on mobile workflows and real-time context delivery. Diversity is a stated priority, with over 40 % of its engineering and product team identifying as women or minorities. With fresh seed capital, Donna plans to accelerate adoption, deepen enterprise integrations, and expand into North America over the next year. The $4.8 million seed round also strengthens its financial position to solidify market leadership as the AI assistant of choice for field sales.

  • Tutored by Teachers

    Participated · Series A · Feb 2022

    Tutored by Teachers is an NYC-based EdTech startup that partners directly with schools to provide evidence-based small-group virtual instruction delivered by highly qualified, certified teachers. It focuses on matching high-need, under-served K-12 students with supplemental tutoring while offering teachers competitive compensation and pathways into education management roles within the company. Led by Shaan Akbar and Rahul Kalita, the program is already operating in Philadelphia, New York, Los Angeles, Indianapolis and Charlotte. The company raised over $10M in a Series A and intends to use the funds to expand its teacher community and increase capacity to serve more than 10,000 K-12 students this year. The core product is school-partnership-based virtual small-group instruction with an emphasis on evidence-based practice and scaling teacher-led delivery. The Series A proceeds are intended to support teacher recruitment, community expansion, and operational scaling to meet the stated student-service target. Tutored By Teachers (TbT) operates a national online tutoring program that pairs certified, teacher-led virtual support with students in school-based small groups. The platform offers a structured user experience—two hours of tutoring up to five days a week—without disrupting the school day and pays teachers $36 an hour for secondary employment. TbT reports nearly 4,000 student hours logged to date, is on track to serve 1,000 students through its Summer Academy, and has secured district-level customers for the 2021–2022 school year. Early metrics show impact on socio-emotional learning (SEL) and academic gains. The company has school partners in New York, New Jersey, Mississippi, Alabama, and California and plans to launch in two additional states this summer. DEI is core to its model: 80% of students identify as BIPOC, the teacher base largely identifies as people of color, over three-fourths hold graduate degrees in education, and 40% are certified in special education.

  • Mursion

    Participated · Series A · Mar 2019

    Mursion provides immersive VR training that blends AI with live human-guided avatars to help employees practice emotional intelligence and other critical workplace skills. The platform offers customizable, scalable virtual simulations for leadership development, conflict resolution, clinical reasoning and sales. The company emphasizes training for Diversity, Equity, and Inclusion (DEI) to build trust and support courageous conversation between managers and teams. Mursion is led by CEO Mark Atkinson and Chief Technology Officer Arjun Nagendran. The company has established partnerships with T-Mobile, Coca-Cola and LinkedIn and has signed new deals with H&R Block, Indeed, Blue Cross Blue Shield and Johnson & Johnson. Mursion closed a $20m Series B financing, reflecting recent investor interest in its immersive training approach. Mursion builds VR simulations that combine artificial intelligence and live human interaction to train essential workplace interpersonal skills. Its platform stages realistic interactions between learners and avatars to drive measurable outcomes in areas such as leadership development, sales enablement, customer service, and diversity and inclusion. The technology is hardware-agnostic, available in VR and a lightweight 2D format, and is designed for use across industries including retail, hospitality, and professional services. Mursion is used by more than 150 employers, including Comerica, LinkedIn, eBay, Coca-Cola, and Nationwide. The company announced an $8M Series A funding round, supporting its commercial growth and product deployment.

  • ClassWallet

    Participated · Seed · Jul 2015

    ClassWallet’s patented digital wallet technology enables state agencies and school districts to disburse public funds quickly and compliantly while automating the purchasing and reimbursement lifecycle. The platform is used across 32 states and helps clients realize the full potential of over $2.7 billion in public funds. ClassWallet operates an integrated marketplace of retailers and service providers, including Amazon, Best Buy, Home Depot, Michaels, Office Depot, Scholastic, Staples and Varsity Tutors. Founded in 2014 and headquartered in Hollywood, Florida, the company says it reduces the time and cost of existing solutions while ensuring compliance and mitigating potential fraud. ClassWallet has been recognized on the Inc. 5000 and Deloitte Technology Fast 500 lists for its rapid growth. The recent $95 million institutional growth capital investment is intended to support continued expansion and efforts to reshape how state and local government agencies do business. ClassWallet is a Hollywood, Fla.-based fintech led by founder and CEO Jamie Rosenberg that provides school districts with a spend management platform that reconciles and pays for transactions in a cashless, paperless and automated manner. Its software streamlines manual tasks such as collecting receipts, reconciling invoices and statements, making vendor and reimbursement payments, and performing data entry required to meet annual audit requirements. The company is used in over 2,000 schools across 15 states. ClassWallet raised $2.3M in the reported round and has raised over $7M to date. It intends to use the new funds to expand product offerings and add to its business development and support staff. ClassWallet provides an end-to-end digital solution to disburse, track and manage school system funds, combining funds disbursement, e-commerce, a reloadable debit card and tracking in an integrated platform. The company is used in over 850 schools and is working with large districts including Los Angeles Unified and Polk County; it is also gaining traction with university athletic departments and states for education savings account management. ClassWallet says it reduces transaction costs that historically reached about 40% to less than 5% and shortens the fund-spend-track lifecycle from weeks to same day. The company planned a platform release in January 2017 that includes a solution to allow schools to accept cash payments from parents without bringing cash into school buildings or classrooms, and several districts are already working to implement that solution. In partnership with Brentwood Associates, ClassWallet will accelerate its product roadmap and invest in sales and marketing to expand distribution. ClassWallet operates a platform that enables school systems and related organizations to disburse and track funds. The platform is used by groups and districts including Harrington Park School District, Albuquerque Public Schools Education Foundation, Reading is Fundamental and Broward Education Foundation. More than 40 retailers, including Amazon, Office Depot, Best Buy, School Specialty and Scholastic, accept ClassWallet as a form of payment. The company plans to release a new version of its platform this summer that will add a reloadable debit card and an API for vendor integration. ClassWallet has raised a total of $2.53M and intends to use new proceeds to accelerate sales and advance its product roadmap. The company is led by founder and CEO Jamie Rosenberg and is based in Miami.

  • Zaption

    Participated · Seed · May 2015

    Zaption provides instructors and trainers a platform to engage learners by adding text, images and questions to existing videos from YouTube, Vimeo and private video libraries. An analytics tool gives instructors feedback on how students interact with content and understand key concepts. Led by CEO Chris Walsh, the company has provided its learning platform to more than 200,000 users across K–12 classrooms, higher education, adult training settings and fully online courses. Zaption raised $1.5m in seed funding and intends to use the funds to expand its video learning platform and increase U.S. sales and marketing operations. In addition to the seed round, the company received two SBIR grants from the U.S. Department of Education’s Institute of Education Sciences totaling $1m. The second-phase SBIR grant will enable development of new video learning tools and content in collaboration with education partners including Discovery Education, Canvas, Gooru Learning and San Francisco Unified School District.

Team

  • Frances Messano

    Chief Executive Officer

    LinkedIn
  • John Doerr

    Co-Founder

    LinkedIn
  • Eva Gonda Green

    Director of Portfolio Development

    LinkedIn
  • Danielle Kristine Toussaint

    Chief External Affairs Officer

    LinkedIn