CED Member and Mentor Partner IDEA Fund Partners, a venture capital firm providing seed and early stage financing to technology companies throughout the Southeast and Mid-Atlantic regions, today announced an investment in GradSave, an innovative online college savings registry.
Investing alongside angel investors, the funds will enable the company to accelerate product development and expand marketing efforts.
Based in Miami, Florida, GradSave is a safe, secure and easy to use college savings registry that has been featured in The New York Times, The Washington Post, U.S. News & World Report, Inc., Fox Business and others. GradSave helps parents, family and friends save for a child’s future education by providing a platform to track and receive contributions that can be linked to any 529 college savings account. More than 4,000 families have already signed up for GradSave to help them save for their children’s future education, according to a statement released by the company.
“We fundamentally believe that it takes a village to raise a child, even from a financial perspective,” said GradSave CEO, Marcos Cordero, in a statement. “GradSave makes it easy for parents, family and friends to give the lasting gift of an education in lieu of traditional gifts at events such as birthdays, Christmas or other holidays. No more trinkets please!”
“We are delighted to welcome GradSave to the IDEA Fund Partners family as our first Florida-based investment and are eager to work closely with their team to help build a great company,” said Lister Delgado, Managing Partner at IDEA Fund Partners, in a statement. “GradSave’s platform for saving for college is very impactful and easy to use. They are tackling the serious issue of rising higher education costs. Marcos is an impressive and driven CEO who is deeply committed to his vision and business and an entrepreneur we are excited to support. GradSave is a great example of the talent and innovation that has attracted us to Florida.”
IDEA Fund Partners is based in Durham, NC.