IDEA FUND PARTNERS ANNOUNCES INVESTMENT IN GRADSAVE
Company Dedicated to Helping Bring College Savings Information, Resources and Tools to Everyone
DURHAM, NC − January 8, 2013 − IDEA Fund Partners, a venture capital firm providing seed and early stage financing to technology companies throughout the Southeast and Mid-Atlantic regions, is pleased to announce its recent investment in GradSave, an innovative online college savings registry. GradSave makes it easy for friends and family to give the gift of education. Investing alongside angel investors, the funds will enable the company to accelerate product development and expand marketing efforts. In conjunction with the investment, the Company will also acquire SavingforCollege.com, the leading online resource for individuals and advisors to better understand how to meet the challenge of paying higher education costs. SavingforCollege.com will continue to provide consumers with useful, independent and objective information about 529 plans and other ways to save and pay for college as an affiliate of GradSave. Together the companies will be able to leverage the rapid growth of GradSave with SavingforCollege.com’s wealth of resources, helping families make informed decisions to begin and grow their higher education savings.
Based in Miami, Florida, GradSave is a safe, secure and easy to use college savings registry that has been featured in The New York Times, The Washington Post, U.S. News & World Report, Inc., Fox Business and others. The Company helps parents, family and friends save for a child’s future education by providing a platform to track and receive contributions that can be linked to any 529 college savings account. Born from the idea that saving for college was a better gift than receiving more “stuff,” GradSave is working to reduce the burden of rising college costs by allowing students to graduate with little or no debt. Over 4,000 families have already signed up for GradSave to help them save for their children’s future education.
“We fundamentally believe that it takes a village to raise a child, even from a financial perspective,” said GradSave CEO, Marcos Cordero. “GradSave makes it easy for parents, family and friends to give the lasting gift of an education in lieu of traditional gifts at events such as birthdays, Christmas or other holidays. No more trinkets please!”
GradSave makes saving for college easy. In minutes, parents can sign up for a GradSave account and create their child’s profile. The Company makes it easy to share your profile by connecting seamlessly with Facebook and Twitter, in addition to spreading the word via email and page links. Parents can set goals and track progress as friends and family easily contribute via the profile page. At any time you can link your GradSave account to a 529 college savings plan to redeem your funds. Before you transfer these funds, the money is safely stored in a FDIC insured bank account.
“We are delighted to welcome GradSave to the IDEA Fund Partners family as our first Florida-based investment and are eager to work closely with their team to help build a great company,” said Lister Delgado, Managing Partner at IDEA Fund Partners. “GradSave’s platform for saving for college is very impactful and easy to use. They are tackling the serious issue of rising higher education costs. Marcos is an impressive and driven CEO who is deeply committed to his vision and business and an entrepreneur we are excited to support. GradSave is a great example of the talent and innovation that has attracted us to Florida.”
IDEA Fund Partners believes that Florida is an environment that aligns well with its investment strategy. The availability of ideas, innovation and talent for new company formation in Florida exceeds the availability of early stage capital, presenting a unique opportunity for investment. The Fund is active in the state, most notably with the Florida IDEA grants program, and maintains an office in Orlando with one Venture Partner and two Operating Partners based in central Florida.
About IDEA Fund Partners
Headquartered in Durham, NC, IDEA Fund Partners provides seed and early stage equity funding along with company building expertise to IT, software, materials technologies and medical device companies in the Southeast and Mid-Atlantic regions. Currently investing out of its first fund, IDEA Fund Partners has invested in thirteen companies since 2007. Learn more at www.ideafundpartners.com.
GradSave is an online college savings registry that helps parents, family and friends save for a child’s future education. GradSave makes it easy for parents, family and friends to give the lasting gift of an education in lieu of traditional gifts at events such as birthdays, holidays and special occasions. With college costs on the rise and many graduates burdened with enormous debt after graduation, GradSave offers a new way to help students graduate with little or no debt. For more information, visit www.gradsave.com.