Classroom photo by Kenny Eliason on unsplash.com

Parsec Education, a Fresno-based K-12 data analytics company, announced Wednesday it has secured $8 million in venture capital funding.

The Series A funding round was co-led by Saint Louis, Missouri-based Cultivation Capital and La Jolla-based Blueprint Equity with the goal to expand the company’s ability to transform collected data into outcomes for students in K-12 schools.

“This investment is a pivotal moment for Parsec Education,” said Babatunde Ilori, CEO of Parsec Education. “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.”

 

Parsec has achieved a 256% year-over-year revenue growth since its founding in 2018 by former Madera Unified School District data analyst Eugene Park. After seeing the struggles of students in his district, Park and his wife Victoria sold their home to invest in Parsec’s launch.

“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 aims to bridge the gap between quantitative and qualitative data, empowering schools to interpret the “what” and “why” of what is happening inside the classroom. Investors in Parsec Education say the company’s understanding of educational data challenges and a clear vision for innovation lead to direct results in understanding the challenges facing school leaders.

“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. “Parsec Education is uniquely positioned to solve these problems, and we’re excited to help them grow.”

With the investment from Cultivation Capital, Parsec hopes to continue growing its engineering, customer success and data analytics teams. It also aims to advance its AI-powered capabilities to drive more meaningful outcomes.