Orlando edtech startup lands funding round for its training platform

An Orlando edtech startup closed a $2 million seed funding round to bolster it’s AI-based course development technology.

PETE Learning will use the money to build more awareness of its learning platform. PETE Learning was cofounded by Stax Payments cofounder Jacques Fu.

Fu told OTN that he wanted PETE to serve as an example to others who build in Central Florida.

“It’s humbling. I am happy that I’m able to strengthen my ties to the Orlando community,” he said in an interview. “I’m thrilled to be an example. When you build a great company here, you can exit, invest locally and keep seeing the community grow.”

PETE enables organizations to provide personalized learning to a workforce using artificial intelligence. The range of courses vary by need, covering anything from onboarding to compliance, technical skills and more.

The platform also tracks a user’s progress.

What the investor is saying

“We’ve been thoroughly impressed with the sophistication of the PETE technical solution and the track record of this management team,” said Cofounders Capital Founding Partner David Gardner, in a press release. “The potential for AI to dramatically disrupt the corporate education space is something we have been following closely, and we have found the right tech and team to back in this space.”

Cofounders Capital, which is based in Cary, N.C., led the round, with angel investors from around Orlando also contributing.

A successful tech community often includes exited entrepreneurs spinning off and building new companies.

PETE becomes the latest example of that in Orlando.

Fu had been on the founding team that launched Fattmerchant, which became Stax.

Luis Garcia, former VP of Emerging Technologies at Full Sail University and founding executive of its online degree programs, said the investment from Cofounders Capital is more than just a financial play.

“Their extensive knowledge and experience in the (business-to-business, software-as-a-service) sector will drive us forward, refining our strategies and accelerating our growth trajectory,” he said in the release, calling the news “pivotal” for the company.

PETE launched in June. It has since been adopted as a training platform by Crummer Graduate School of Business at Rollins College, among others.