MassVentures announced it participated in a $1.7 million seed round in BoardOnTrack. The finance round included MassVentures, Launch Capital, Hub NY and Cherrystone Angel group. BoardOnTrack, founded by a strong management team with significant start-up and consulting expertise, has developed a web-based, cost-effective and convenient way to build and optimize charter school boards using a data-driven approach.
BoardOnTrack is from the inaugural class of Constant Contact’s new small business InnoLoft, an accelerator focused on small business innovations. It was here that BoardOnTrack refined its business and prepared itself for scalable growth. “It’s a great time to be part of the Boston tech ecosystem. We started in Constant Contact’s InnoLoft where we positioned ourselves for growth and have since formed a strong partnership with MassVentures,” said Marci Cornell-Feist, Chief Executive Officer at BoardOnTrack. “With both the financial and knowledge support we have received to date, we can now focus on growing our product offerings and broadening our position in the market. We’re thankful for the funding and expertise that the MassVentures’ team has provided.”
BoardOnTrack enables volunteers to work strategically and efficiently to transform charter schools and non-profit organizations across the country. Utilizing BoardOnTrack’s web-based tools, boards are able to develop goals and track accountability, optimize board performance, monitor progress and assess accomplishments at year end.
“After a thorough market analysis, it was quite clear that BoardOnTrack’s comprehensive, data-driven solution was filling a real need in the market, and is a key component in optimizing board performance,” said Nick Pappas, Vice President at MassVentures. “Marci and her team have demonstrated domain knowledge that is unparalleled in the industry and are poised to scale BoardOnTrack. We look forward to supporting their continued success.”