SAN FRANCISCO, May 19, 2016 /CNW/ -- On Monday Veditz made history by becoming the first education company to use Title III of the American JOBS Act. The JOBS Act was passed by Congress to increase start-ups' access to capital, by allowing all people, no matter how wealthy, to invest as little as $100 in start-ups they love. Veditz serves the world's 70 million Deaf population and is working to improve education attainment & employability of the Deaf worldwide and will use proceeds to expand operations.
"Only 2% of Deaf people having access to education in their chosen sign language. That leads to tragic outcomes. In the USA alone, Deaf student high school dropout rate is 314% higher, college dropout rate is 71% higher, and under-unemployment rate is 265% higher, than hearing peers," said Arlene Garcia-Gunderson, President and Co-Founder of Veditz.
Garcia-Gunderson, the first Deaf female Latina co-founder of a Silicon Valley start-up, and also President of the American Sign Language Teachers Association added, "While the company has already raised capital from traditional investors we think a diverse ownership that includes the people who most care about Veditz' mission, makes us a stronger company and so we chose to launch a public offering on WeFunder."
Veditz was founded to connect, educate and empower the world's Deaf community via the first mobile, on-demand and live education marketplace for the Deaf. The company connects Deaf people to education and tutoring on K-12 and college courses of all subjects, with instruction delivered in the world's major sign languages right on a desktop or mobile device. Its innovative technology was named by EDUCAUSE, the association of university CIOs/CTOs, as one of the top 10 EdTech startups this past year.
"I really love how Veditz is progressing; such an important key missing piece for mentorship and quality ASL education," said Thomas Horejas, Executive Director DEAF Inc., who joined Veditz' Advisory board which also includes David Simmons 2016 University of Texas at Austin's Foreign Language Teacher of the Year.
Veditz began Beta in April 2016. "I think Veditz is amazing. It couldn't have come along in a more perfect time in my life!" said Anna Nichols a student at Columbus State Community College. The company's world-class teachers include educators from Gallaudet, RIT, Princeton, Penn, UT-Austin, University of California, plus K-12 teachers across the USA and Canada.
For further information: Tim O'Connor, 415-964-0112, [email protected], https://veditz.org