April 18, 2022
Skyepack receives growth investment from Purdue Foundry, Elevate Ventures and M25
WEST LAFAYETTE, Ind. – To meet the growing demand for innovative solutions that reduce the barriers to post-secondary education, Skyepack has received a significant growth investment from the Purdue Startup Fund, managed by the Purdue Foundry. Elevate Ventures and M25 also invested in this round of funding.
Skyepack creates custom digital course materials to prepare students for high-demand, high-wage careers. More than 90,000 students at 225 U.S. campuses and communities have taken Skyepack's customized courses and microcredentials on the company's K to Career+ Learning Experience Platform. Skyepack is based in the Purdue Research Park.
Eric Davis, CEO of Skyepack, said the COVID-19 pandemic has spurred education innovation across the country.
"Educators responded to COVID with amazing innovation and resilience, proving that we could disrupt the status quo and be successful," Davis said. "There is now an emerging optimism that we can have an impact on some of the more chronic challenges preventing equitable access to postsecondary education and the improved life outcomes that come with it.
"This funding will enable Skyepack to continue to innovate and advance its efforts to make postsecondary education more affordable, effective and accessible."
Riley Gibb, director of business development at Purdue Foundry, said Skyepack fits into the Purdue Startup Fund's investment portfolio.
"Skyepack is doing innovative work," Gibb said. "We are excited to be able to support a company creating fresh and interactive solutions for students and with strong Purdue ties."
Jacob Schpok, vice president of entrepreneurial services and entrepreneur-in-residence at Elevate Ventures, said, "Skyepack has proven that their digital course material and learning platform is exactly what higher-education institutions and communities have been seeking. Elevate Ventures is thrilled to have the opportunity to reinvest into Skyepack during this exciting growth round."
Victor Gutwein, managing partner at M25, said, "Skyepack has been a leader in the digital education space since before the pandemic began.
"Their growth and success are a credit to their team, and we look forward to their continued success," Gutwein said.
About Purdue Foundry
The Purdue Foundry is an entrepreneurship and commercialization hub whose professionals help Purdue innovators create startups. The Purdue Foundry is managed by the Purdue Research Foundation, which received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. Contact the Purdue Foundry at firstname.lastname@example.org.
About Elevate Ventures
Elevate Ventures is a private venture development organization assisting high-growth startups and early-stage companies expand into high-performing, Indiana-based companies. Elevate has invested over $130 million in more than 460 companies through its various programs. Pitchbook has ranked Elevate as the Most Active VC in the Great Lakes Region since 2017. To learn more about Elevate Ventures, visit elevateventures.com.
M25 is an early-stage venture firm based in Chicago, investing solely in tech startups headquartered in the Midwest. Since launching in 2015, M25 has become the most active investor in the region. Led by Victor Gutwein and Mike Asem, M25 has invested in over 120 companies to date and prides itself in connecting founders to the broader ecosystem through the Club M25 Summit, the largest in-person gathering of VCs in the Midwest.
Headquartered in the Purdue Research Park in West Lafayette, Indiana, Skyepack equips students with the skills, knowledge and competencies to advance their awareness and preparedness for high-demand, high-wage careers within their own communities. Skyepack combines its trademarked Agile Instructional Design Process to build customized courses and microcredentials within its K to Career+ Learning Experience Platform, building knowledge, skills and connections for students, employers and their communities. Skyepack's clients include employers, associations, regional workforce teams, major universities, regional campuses, community colleges and the students, employees and communities they serve.
Writer: Steve Martin, email@example.com
Sources: Eric Davis, firstname.lastname@example.org
Riley Gibb, email@example.com