Milwaukee edtech startup Fiveable, which develops an interactive, live-streaming student tutoring platform, took home $25,000 after pitching at the SoGal Summit & Global Pitch Competition Finals in San Francisco last weekend.
The competition, viewed as the largest startup competition for women and diverse entrepreneurs, is sourced from over 1,700 startup applications from across the world. Amanda DoAmaral, founder and CEO of Fiveable, advanced through the regional rounds, which took place on five continents, and was one of roughly 60 startups to compete for a portion of $600,000 in investment capital.
Fiveable placed in the top 11, DoArmaral shared on her LinkedIn page.
Earlier this year, Fiveable closed on $673,658 from eight investors. The round of funding was led by Northwestern Mutual’s Cream City Venture Capital, the $5 million venture fund of the Milwaukee-based financial management company. Fiveable received the investment from Cream City Venture Capital for being the co-winner of Fall X Pitch, a pitch competition for technology startups during Fall Experiment this past October.
As part of winning the competition, Fiveable is also receiving free co-working space in Northwestern Mutual's Cream City Labs in downtown Milwaukee.
In early 2019, Fiveable, a graduate from gener8tor's 12-week accelerator, took home $15,000 at the 5 Lakes Pitch Competition at Summerfest Tech. Selection into gener8tor includes receiving a $100,000 investment. DoAmaral was also a Wisconsin Inno 50 on Fire winner, and Fiveable was one of our 20 Startups to Watch in 2020.
Fiveable's platform was built for students who are often timid about asking questions in a class setting, and to also help teachers grow their teaching skills by watching tutorials from other educators. The live-streams are free, but archived videos are where the company will make its revenue, DoArmaral previously said. Through a revenue-sharing agreement with Fiveable, a percentage of the fees go back to the educator who led the video stream.
