PRnewswire | April 03, 2023
NOLEJ, the generative AI edtech start-up has announced a strategic collaboration with OpenAI, the AI research and deployment company behind GPT-4, GPT-3.5, ChatGPT, DALL•E, Codex and more.
Following a successful Beta test with over 2500 educators, NOLEJ will launch the commercial version of NOLEJ AI, its generative AI for educators, powered by GPT-3.5, in mid-April at ASU GSV Cup, where they've been selected as a finalist in the GSV cup, the largest edtech competition.
NOLEJ AI is empowering educators to generate interactive microlearning packages 50X quicker. Educators can upload any type of static content (Video, Audio, Text), NOLEJ AI then automatically generates ready to use interactive videos, flashcards, and quizzes that cater to individual learning styles. Hundreds of independent studies have proven that such interactive micro-learnings outperform traditional static formats, improving the completion rate by 85% and the retention rate by 75%.
NOLEJ plans to further revolutionize AI-powered education by leveraging their expertise in generative learning built on OpenAI's technologies and advanced AI system. This collaboration aims to create new tools that will enhance the learning experience even further and open up new possibilities for educators.
"We are thrilled to be collaborating with OpenAI to continue our mission of powering the future of learning." said Bodo Hoenen, CEO US and co-founder of NOLEJ.
With this strategic collaboration, NOLEJ joins companies such as Shutterstock, Duolingo and Khan Academy among OpenAI collaborators.
NOLEJ AI is a tool that turns static learning material (video, audio and text content) into micro-learning interactives (interactive videos, quizzes, games, flashcards, etc.) in minutes (50X+ faster). This interactive content outperforms static learning material, providing 75% more retention, and 85% more completions.
OpenAI is an AI research and deployment company dedicated to ensuring that general-purpose artificial intelligence benefits all of humanity. AI is an extremely powerful tool that must be created with safety and human needs at its core. OpenAI is dedicated to putting that alignment of interests first — ahead of profit.To achieve our mission, we must encompass and value the many different perspectives, voices, and experiences that form the full spectrum of humanity. Our investment in diversity, equity, and inclusion is ongoing, executed through a wide range of initiatives, and championed and supported by leadership.
Businesswire | April 27, 2023
Summer, the certified B Corp committed to addressing the national student debt crisis, announced that it has raised $6M in new capital, with $18M raised in funding to date. General Catalyst, QED Investors, Flourish Ventures, Greycroft, Story Ventures, Gaingels, Calm VC, Partnership Fund for NYC, Fenway Summer, BDMI, and Avidbank participated in the financing.
The company also announced it has surpassed $1 billion in total projected savings for borrowers, and it has hired Leigh Gross as Chief Revenue Officer to lead partnerships with recordkeepers and other financial institutions interested in Summer Secure, the company’s automated solution for SECURE 2.0 retirement matching.
Student loan debt in the United States now stands at $1.75 trillion, according to the Federal Reserve, exceeding credit card and auto debt. It is often the first meaningful debt that young people incur, and can lead to a domino effect on their financial life–making it harder to save for retirement or buy a home years after graduating. Summer works with leading financial institutions, employers, and unions to provide a high impact, comprehensive digital solution that helps individuals plan for college costs, reduce the burden of student loan debt, and optimize retirement savings. To date, the company has delivered more than $1 billion in total projected savings for borrowers across the United States, offering assistance on every leg of the personal finance journey.
“We’re thrilled to announce this new funding, especially at a time when the need for better college planning and student loan solutions has never been more acute,” said CEO and co-founder Will Sealy. “As student loan forgiveness hangs in the balance and payments are set to resume for the first time in years, we’re excited to share our solution with more people to enable them to unlock financial freedom.”
Summer’s funding comes at an exciting time for the business as it continues to expand partnerships with retirement recordkeepers and payroll providers on the heels of its partnership with Fidelity Investments in 2022. Due to the recent passage of the SECURE 2.0 Act, many institutions are turning to Summer to support their employer clients with student loan retirement matching, leveraging Summer’s digital API suite and its expertise with operationalizing complex student loan policies into high-adoption solutions.
In a recent survey, 91% of employees with student debt said they would save more money for retirement if their employer offered a student loan repayment program. By ensuring that an employee’s student loan payments count toward the retirement match provided by their employer, Summer’s workplace solution can relieve student loan borrowers from having to make an impossible decision between paying down their debt or saving for retirement.
Summer was founded in 2017 by Sealy, a former Policy Analyst and Assistant to Sen. Elizabeth Warren and a veteran of the Consumer Financial Protection Bureau, Chief Product Officer Paul Joo, with previous experience at the U.S. Attorney’s Office and the Boston Consulting Group, and Chief Product Officer Vincent Tran, who previously led product at Pave and Orchard and was an investor at the Partnership Fund for NYC.
Summer’s recent partnership milestones include a student loan benefit launched with Intuit’s personal finance subsidiary, Credit Karma, and an expanded partnership with the American Federation of Teachers to support their 1.7 million teachers, government employees, and healthcare workers. Summer will use the new funding to expand the platform to help even more borrowers with a holistic approach to financial well-being.
Summer partners with financial institutions and employers to empower their populations to reduce education costs and student debt through proven technologies, policy expertise and human support. Founded in 2017 by industry experts, Summer’s mission is to alleviate student loan debt for 46 million borrowers by providing leading solutions for college cost planning, automated enrollment for loan assistance plans, tuition assistance, student loan contributions and retirement matching, and emergency savings. Summer is a certified B Corporation.
Melmark | March 10, 2023
On March 09, 2023, Melmark, a non-profit human service organization, started a new school facility for special education and recreational environment in Stoughton, Massachusetts. It selected Maggiore Construction Corporation with Roth and Seelen, Inc. to design and build this facility.
It conducted the groundbreaking ceremony on January 24, 2023. This facility will offer a state-of-the-art and accessible special education learning and recreational surrounding, opening in May. Its New England division presently enrolled about 132 students at its Andover school, and this new facility will educate up to 84 students. It will provide new opportunities for school districts, students, and families deprived of clinically sophisticated educational services. In addition, it would also offer job opportunities with skilled special education leaders.
This facility has a license from DESE and helps students aged 3 to 22 with an intensive individualized education approach. This approach and a behavioral framework create the learning environment needed for education. Its students are diagnosed with autism spectrum disorder and intellectual and developmental disabilities, having secondary to complex behavioral profiles. Melmark New England is also the Massachusetts Association of 766 Approved Private Schools (MAAPS) member.
President and CEO of Melmark, Rita M. Gardner said, "This is a poignant time in the history of Melmark, this is a project that was slated to start during the COVID-19 pandemic. We are thrilled to stay focused on the needs of families in our communities. We are collaborating with school professionals, families, and other stakeholders to share information about the opportunities our new school will make available, as we are keenly aware of the critical, growing need for the evidence-based services we offer. The new school building will support spacious, intentionally designed classroom environments with innovative tools for learning and skills building. This growth in MA reflects our mission and strategic goal to serve children in diverse and inclusive communities who need and deserve Melmark's specialized special education services to reach their best outcomes."
(Source – Cision PR Newswire)
Headquartered in Berwyn, Pennsylvania, Melmark, an individual and family services provider, specializes in applied behavior analysis, special needs, intellectual disabilities, developmental disabilities, autism, education, healthcare, approved private school autism and intellectual disabilities, charity and non-profit, and volunteers. It is a multi-state human service provider with special education schools, training, research centers and professional development. It has transformed the lives of individuals with autism, intellectual and developmental disabilities and supporting their families since 1966. It provides evidence-based and behavior-analytic services to them daily.