Chicago, Illinois – June 25, 2020; City Capital Advisors (“City Capital”), a Chicago-based middle market investment bank, is pleased to announce that it acted as exclusive financial advisor to TeleTeachers, Inc. (“the Company”) in a $2,785,000 Series A equity private placement. City Capital is pleased to announce that George Spencer (Senior Managing Partner of Chicago-based Seyen Capital) and Jerry Putnam (founder of Archipelago Holdings, and former Chairman of OptionsHouse and President of the NYSE) were the lead investors for the round. Mr. Putnam and Mr. Spencer bring long and successful track records in venture investing to the Company and will serve on the Board of the Company, representing the investor group along with Founder and CEO, Emily Smith, who has devoted her career to building effective technologies and service programs that enable equity in education access for students across the nation requiring special education.
The Company intends to use the funds to expand its base of providers and the school districts they serve, increase its sales and marketing efforts to accelerate growth, and continue building out its superior technology platform.
Emily Smith, Founder and CEO of TeleTeachers, said “Now is an incredible opportunity to innovate in education and bring unparalleled value to schools and students in this critical time of online learning adoption. As a company, we are ready and excited to continue partnering with schools nationwide to ensure every student has access to the services they need to succeed and to support district-employed teams in delivering and implementing online learning effectively at scale. We will be successful when every student requiring special education has an exceptional experience and outcome with online learning, and this funding round allows us to make tremendous progress toward that vision.”
Nick Hurtgen, Managing Director at City Capital added, “We are confident that this raise will prove to be a pivotal step in the Company’s long-term success. Emily and TeleTeachers can effectively address the increasing demand for Ed Tech business services — especially in terms of tele-education/therapy. We are enthusiastic about and eager to follow TeleTeachers’ growth into an industry leader in the coming years.”
Founded in 2019 and based in Chicago, Illinois, TeleTeachers is a leading provider of engaging and effective technology-enabled learning environments in which students with disabilities receive high quality, federally-mandated special education and related therapy services through video conference from a fully certified, online provider — no matter where they live. TeleTeachers also enables schools to internally deliver and document online sessions and seamlessly recover Medicaid funding for eligible services through its platform. Using the momentum of online learning in the current education environment, TeleTeachers powers dynamic solutions for schools requiring education technology and support to reach students wherever they may be served. For more information, please visit https://teleteachers.com/.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-driven investment banking advisory firm. Each of City Capital’s Managing Directors has more than 25 years of investment banking experience, offering clients judgment and transaction management expertise honed from successfully executing more than 500 merger & acquisition and capital raising transactions, collectively, over their professional careers. Our client engagements are managed exclusively by experienced senior investment bankers, allowing our business owner clients to realize maximum value for their companies, often exceeding their original objectives.