How Much Did Scholly Raise? Funding & Key Investors

Scholly has successfully raised funding over four rounds, with the latest being a Seed round. The platform is backed by six investors, including Revolution’s Rise of the Rest Seed Fund and Revolution.

Scholly offers a user-friendly interface to help students find and apply for thousands of college scholarships. Keep reading to explore the intricacies of Scholly's fundraising journey and the investors backing this innovative platform.

What Is Scholly?

Scholly is a private company based in Philadelphia, Pennsylvania, operating in the Education, Finance, and Mobile Apps industries. The platform is designed to help students find and apply for scholarships, making the process more accessible and efficient.

Founded with a small team of 1-10 employees, Scholly has successfully raised funding through seed rounds. The company offers a user-friendly interface that matches students with scholarships, supporting them in securing the best financial aid opportunities available.

How Much Funding Has Scholly Raised?

1. Seed Round
   • Amount Raised: USD 20,000
   • Date: May 2014
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the initial development and launch of the Scholly platform.
2. Seed Round
   • Amount Raised: USD 40,000
   • Date: February 2015
   • Lead Investors: Daymond John, Lori Greiner
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the platform's capabilities and reach more students.
3. Non-Equity Assistance
   • Amount Raised: Not publicly disclosed
   • Date: June 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To gain strategic support and resources without diluting equity.
4. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: December 2017
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further scale the platform and enhance user experience.

Total Amount Raised: USD 60,000

Current Valuation: Not publicly disclosed

Key Investors

• Revolution’s Rise of the Rest Seed Fund
  • Details: Revolution’s Rise of the Rest Seed Fund is a venture capital fund that invests in startups outside of major tech hubs. It aims to support entrepreneurs in emerging startup ecosystems across the United States.
  • Investment Focus Areas: Technology, consumer products, healthcare.
  • Notable Investments: Not publicly disclosed.
• Revolution
  • Details: Revolution is a venture capital firm founded by Steve Case, co-founder of AOL. The firm focuses on investing in innovative companies that are transforming traditional industries.
  • Investment Focus Areas: Technology, healthcare, consumer products.
  • Notable Investments: Not publicly disclosed.
• Daymond John
  • Details: Daymond John is a successful entrepreneur and investor, best known for his role on the television show "Shark Tank." He is the founder of the clothing brand FUBU.
  • Investment Focus Areas: Consumer products, fashion, technology startups.
  • Notable Investments: Bombas, Bubba's-Q Boneless Ribs, Sun-Staches.
• Lori Greiner
  • Details: Lori Greiner is a prominent entrepreneur and investor, famous for her appearances on "Shark Tank." She is known for her successful inventions and products marketed on QVC.
  • Investment Focus Areas: Consumer products, retail, home goods.
  • Notable Investments: Scrub Daddy, Squatty Potty, Simply Fit Board.

What's Next for Scholly?

Scholly's recent $40,000 private equity funding from Daymond John and Lori Greiner opens up significant opportunities for the platform. This investment can be leveraged to enhance the app's features, making it more adaptive and user-friendly, thereby attracting a larger user base. The educational technology sector is booming, and Scholly is well-positioned to capitalize on this trend.

Future fundraising opportunities seem promising, especially with the backing of high-profile investors. As Scholly continues to grow, it may attract more venture capital, enabling further expansion and development. However, the company might face challenges such as intense competition from other scholarship apps and the need to maintain user engagement. Effective utilization of the secured funds will be crucial for overcoming these hurdles and achieving sustained growth.

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