Baltimore ed-tech firm Concentric raises $5 million round

A call that Concentric Educational Solutions CEO David Heiber first mistook for a prank led to the Federal Hill company raising a $5 million series A round from New Markets Venture Partners.

Heiber plans to use the capital to add new C-suite executives to the rapidly expanding company along with new features to the company’s mobile application to make it easier for parents and school districts to communicate. The company announced the closure of the round on Oct. 5, making Heiber one of the few Black Marylanders to raise a substantial amount of venture capital funding.

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