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Spend management platform Teampay expands partnership with Mastercard, raises $47M

TechCrunch

Today, Teampay has hundreds of customers and significant venture capital financing behind it. million in debt) Series B led by Fin Venture Capital with participation from Mastercard, Proof Ventures, Trestle and Espresso Capital, bringing Teampay’s total raised to $65 million. . million in equity, $11.75

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7 investors discuss why edtech startups must go back to basics to survive

TechCrunch

The companies that took their first venture capital during the craze decided to join forces with other well-capitalized competitors. Here’s who we surveyed: Ashley Bittner and Kate Ballinger , Firework Ventures. Jan Lynn-Matern , founder and partner, Emerge Education. But the sector is now facing a downturn.

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The end of a second straight month of layoffs in tech

TechCrunch

Edtech business Byju rose to prominence over the pandemic as it both helped answer the demand for remote education and boasted the highest known valuation of any startup in India. The layoff comes nearly three months after Backstage Capital narrowed its investment strategy to only participate in follow-on rounds of existing portfolios.