done. You’re always going back for continuing education, refinement, and enhancement.”
The new, teacher-focused tools leverage the company’s existing platform for students, which Mortimore says costs about $20 per pupil annually and has been used by more than 30,000 students across 200 schools in 25 states. (Total number of educational projects created: nearly 500,000.) Camille Mortimore, Project Foundry’s chief learning officer (and Bill’s wife), says the company may bundle the professional development software together with its core products for new or existing clients, or sell it as a standalone offering.
Bill Mortimore says Project Foundry’s revenues for 2015 were more than $300,000, and that he anticipates sales will be higher this year. Up to this point, most of the money that has come into the company has been in the form of revenue, not outside investment, he says.
That’s likely to change soon, though: Mortimore says that Project Foundry is expecting to close on a $1.25 million seed funding round by the end of the month. Among the participants are the BrightStar Wisconsin Foundation, Wisconsin startup accelerator Gener8tor, Angels on the Water, and individual angel investors, he says.
The new financing would be used to add staff—Mortimore says he expects the eight-employee startup to double its headcount by December—and continue marketing its software to schools and school districts.
