(Corrected, 11 a.m.)
CRANSTON – DormNoise LLC, an interactive calendar system for college students developed by a Cranston native, said last week it has raised $500,000 in a Series A funding round.
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
Learn More
DormNoise’s CEO and founder is Jay Rodrigues, 21, a junior at the University of Pennsylvania’s Wharton School of Business who is from Cranston. He founded the company in June 2007, just before leaving for his freshman year, as a way to help college students manage their busy schedules.
“Unlike other simple online calendar offerings, DormNoise sends e-mail notifications as well as syncs and integrates with numerous online and mobile calendars,” including Microsoft Outlook, Google Calendar and iPhone’s calendar app, Rodrigues said in a news release.
The new $500,000 investment is from DN Ventures, a group of angel investors, and Present e-Learning Systems Inc., a Boca Raton, Fla.-based educational software company.
DormNoise said the money will be used to accelerate the company’s sales, marketing and product development efforts. The company has previously raised $450,000 from its founder’s friends and family in three financing rounds.
The company has a number of revenue streams. Clients pay a per-student “seat” fee, and corporations can sponsor the program, with DormNoise and the school sharing the money.
DormNoise’s current customers include Bryant & Stratton College, Newbury College, and Clemson University’s College of Health, Education, and Human Development’s Living and Learning Community.
“DormNoise’s momentum and visionary roadmap impressed us to pursue our investment,” said Alan Jacober, a managing partner of DN Ventures who is joining the company’s board.
“We see DormNoise as the only real player in the collegiate calendaring and communications market, offering a unique value proposition that solves a pervasive and long-standing problem within higher education,” he said.
Additional information is available at dormnoise.com.
An earlier version of this story referred to DN Ventures as a British firm; DormNoise’s investment came from an American group with the same name.
