The ed-tech startup Pearl Richmond has successfully secured over $4 million in seed funding, bringing the total equity funding to $4.75 million according to SEC filings. Originally launched as Trilogy Mentors in 2016, the company has evolved from an in-person tutoring program to a technology company providing an all-in-one hybrid tutoring platform for educational entities, allowing them to establish and scale their online learning programs. The startup Pearl Richmond seed funding will be used to further develop their proprietary software and establish more partnerships in the future, as revealed by CEO John Failla.
Introduction
From RichmondInno By Drew Hansen
Pearl Secures Seed Funding
John Failia is the founder and CEO of Pearl
Pearl, a Richmond ed-tech startup that offers a tutor management software platform, has closed a seed round of more than $4 million.
In total, the company has raised $4.75 million in equity funding from 54 investors, according to Securities and Exchange Commission filings.
Pearl’s Evolution
Founder and CEO John Failla declined to comment further on the funding, but said the company has a number of partnerships it plans to unveil over the next few weeks.
The company changed its name from Trilogy Mentors about a year ago, a move Failla said at the time reflected the startup’s evolution since its 2016 founding. It originally launched as an in-person tutoring program and went through Richmond’s Lighthouse Labs accelerator before transitioning to a technology company. Pearl provides a proprietary software-as-a-service platform for educators to launch and scale a branded, relationship-based online learning program.
“We licensed out our all-in-one hybrid tutoring platform to companies, institutions and freelancers so they can launch programs overnight,” Failla said last year.
Founder-in-Residence
Failla is also the inaugural founder-in-residence at the University of Richmond Robins School of Business.
Question & Answer
1. What is the total equity funding secured by Pearl Richmond?
Pearl Richmond has secured over $4 million in seed funding, bringing the total equity funding to $4.75 million according to SEC filings.
2. When was Pearl Richmond originally launched and what was its initial focus?
Pearl Richmond, originally launched as Trilogy Mentors in 2016, started as an in-person tutoring program before transitioning into a technology company providing an all-in-one hybrid tutoring platform for educational entities.
3. How will Pearl Richmond utilize the seed funding it has secured?
The startup Pearl Richmond seed funding will be used to further develop their proprietary software and establish more partnerships in the future, as revealed by CEO John Failla.
