The service delivers SAT test preparation plus personal online coaching from blue-chip grad students. Combined, the service helps students hit big score increases – 168 points on average. A cover-story on Fortune Small Business provided the necessary sales traction.
Karan had a previous venture with a College Admissions database, myTrak, as well as internships at BCG and the Pritzker Organization. Joe was a Rhodes Scholar. The idea came out of seeing friends spend tons of money on mediocre SAT test prep. Between four people the company maintains offices in Chicago and Mountain View.
Dimensions: 4 people x 1 year x $ NDA
Funding: founder's scholarship money and small loan
Customers: High School students and parents looking at top-tier colleges
Location: Chicago [Hyde Park] + www.prepme.com
What's Next: Raising angel round to support marketing, hiring +1 engineer
