Parsec Education announced an $8 million Series A funding round led by Cultivation Capital and Blueprint Equity. Cliff Holekamp (MBA ‘01), Co-founder and Managing Director of Cultivation Capital, was previously the Academic Director for Entrepreneurship at the Olin Business School. He currently serves on the Skandalaris Center’s National Council, where he continues to support and shape innovation and entrepreneurship at WashU.
Holekamp played a pivotal role in supporting Parsec’s mission. His connection to Parsec CEO Babatunde Ilori (MBA ‘10), a former WashU student, underscores the strength of the university’s entrepreneurial ecosystem in fostering transformative ventures like Parsec. This funding will accelerate the company’s mission to empower schools with innovative data solutions to improve student outcomes. Check out the press release below for more details!
Fresno, CA — December 9, 2024 — Parsec Education, a leader in K-12 data analytics
solutions, announced the successful close of its $8 million Series A funding round, co-led by
Cultivation Capital and Blueprint Equity. The company achieved an impressive 256%
year-over-year revenue growth. The funding will support product innovation, expand customer
success teams, and scale the company’s reach, helping schools transform data into actionable
insights that improve student outcomes.
“This investment is a pivotal moment for Parsec Education,” said Babatunde Ilori, CEO of
Parsec Education. “It reflects the hard work of our team and our deep commitment to
empowering schools with better tools to improve student outcomes. Partnering with Cultivation
Capital and Blueprint Equity gives us the resources to scale faster, strengthen our products, and
deliver even greater value to our school partners.”
The idea behind Parsec Education was born from firsthand experience with the challenges
schools face when managing disconnected data systems. Eugene Park, Founder and Chief
Innovation Officer of Parsec Education saw schools struggling to unlock the full potential of their
data while working as a data analyst at Madera Unified. Determined to create better tools, he
and his wife, Victoria, made the bold decision to sell their home and invest everything into
launching Parsec Education.
“We built Parsec Education because we knew schools needed better ways to understand and
act on their data,” Park explained. “This funding allows us to expand that vision, scale our
solutions, and continue making a meaningful difference for students.”
The company’s platform and services bridge the gap between quantitative and qualitative data,
empowering schools to interpret both what is happening and why.
Investors recognized Parsec Education’s unique position in the market, driven by its leaders’
deep understanding of educational data challenges and a clear vision for innovation.
“I first met Babatunde when he was my student at Washington University in St. Louis,” said Cliff
Holekamp, Co-Founder and Managing Director of Cultivation Capital. “His experience leading
data systems in school districts gives him a direct understanding of the challenges school
leaders face—especially with siloed data and the difficulty of capturing high-quality qualitative
insights at scale. Parsec Education is uniquely positioned to solve these problems, and we’re
excited to help them grow.”
Bobby Ocampo, Co-Founder and Managing Partner of Blueprint Equity, echoed this sentiment,
emphasizing the strength of Parsec Education’s leadership team:
“Our investment strategy is centered on backing leaders who deeply understand the problems
they are solving. Babatunde, Eugene, and the entire Parsec team bring that level of expertise,
paired with impressive technical and operational skills. Their approach to turning complex data
into clear, actionable insights for school leaders is exactly the type of innovation we want to
support.”
With this investment, Parsec Education plans to grow its engineering, customer success, and
data analytics teams while advancing its AI-powered analytics capabilities to drive more
meaningful educational outcomes.
About Parsec Education
Parsec Education is an educational technology company dedicated to modernizing K-12
education by transforming how schools interpret and utilize data. Founded in 2018, Parsec
partners with educational institutions to improve student outcomes through innovative data
visualization and analysis tools. For more information, visit parseceducation.com.
About Cultivation Capital
Cultivation Capital is an early-stage venture capital firm investing in software technology, life
sciences, agriculture technology, and geospatial technology companies. Since its founding in
2012, the firm has invested in over 150 companies and is recognized as one of the most active
early-stage investors in the United States. For more information, visit
https://cultivationcapital.com
About Blueprint
Blueprint Equity is a technology-focused growth equity firm providing expansion capital to
high-growth, capital-efficient enterprise software and technology-enabled services businesses
globally. With expertise in enterprise software, financial technology, and technology-enabled
services, Blueprint collaborates with management teams to accelerate growth and maximize
potential. Managing $275 million in assets, Blueprint Equity is headquartered in La Jolla,
California. For more information, visit onblueprint.com