Yesterday the team of Imagine K12 announced that the edtech accelerator would merge with Y Combinator to form a dedicated edtech vertical. The merger has been in the works for about a year and with Imagine K12’s first fund ending, Geoff Ralston and Tim Brady made the decision to join Y Combinator.
“Our first fund just ended, so the timing of the move worked well. We had interest from investors for a second fund, but we decided not to raise it and work with YC instead.”, Brady told EDUKWEST in an email.
Why Y Combinator? According to Brady, there has always been a strong overlap between the two accelerator programs. Before launching Imagine K12 he and his co-founder Geoff Ralston sought advice from Y Combinator co-founder Paul Graham which eventually lead to a fairly similar approach in how the Imagine K12 program would be handled. Such closeness also had another effect: Imagine K12 startups sometimes joined Y Combinator at a later stage or were even accepted in both programs simultaneously.