Edtech software engine developer Intersective has been backed by Main Sequence Ventures, allocating the funding for further R&D and overseas expansion.
Australia-based edtech software developer Intersective has secured A$3.5m ($2.7m) from Main Sequence Ventures, which manages the $150m Innovation Fund for Commonwealth Scientific and Industrial Research Organisation (Csiro), StartupSmart reported on Thursday.
Main Sequence Ventures originally named Intersective in October 2017 as one of the vehicle’s four inaugural investments, however this is the first time further details have emerged. Intersective has not disclosed equity funding previously.
Founded in 2010, Intersective has created a software development engine called Practera that deploys machine learning to help create products for experiential training, the development of a student’s skillset through reflections on their prior work.
Intersective’s clients include the universities of Sydney and New South Wales.
Intersective will put the capital towards further research and development as it targets expansion into overseas markets. Bill Bartee, general partner at Main Sequence Ventures, will join Intersective’s board of directors.
The company was co-founded by Wes Sonnenreich, a Massachusetts Institute of Technology graduate in computer science and jazz composition, along with Beau Leese, previously Csiro’s head of strategy, innovation and international.
Sonnenreich and Leese act as co-chief executives, joining fellow co-founder Suzy Watson, a former business analysis strategist at financial services firm Aussie, who is now Intersective’s chief operating and financial officer.
Watson said: “The 21st century skills that most people are going to need for their jobs in the knowledge economy are not easily learnt by current teaching methods.
“Students need to be learning those skills experientially now and applying them … and they need to learn those skills before they leave university.”
