VT KnowledgeWorks Alumni Koofers Receives $5 Million Investment

From Michael Rihani, Chief Strategy Officer at Koofers, a VT KnowledgeWorks alumni member company:

What started out as a simple "level the playing field" idea out of my Virginia Tech dorm room (specifically, 313 Vawter Hall), Koofers – a Blacksburg-created term and tradition – has seen incredible nationwide growth (300,000+ students use the service).

A few days ago we closed a $5 million investment round.

Steve Case tweeted to his 362,000+ followers about us.

We will be announcing some exciting news next week in Blacksburg, Virginia.


P.S. - All 3 co-founders attended Virginia Tech: Glynn LoPresti (ISE '95), Patrick Gartlan (CS '07), and Michael Rihani (BIT '08).


Congratulations, Michael!

Investors in Koofers include include Revolution, New Atlantic Ventures, Altos Ventures, and QED Investors.  You can read more about the Koofers investment story on TechCrunch and TechJournal South.

VT KnowledgeWorks is a unique growth enhancement program open to entrepreneurs in the New River Valley and beyond.  Acceleration center and incubation facilities are located in the Virginia Tech Corporate Research Center in Blacksburg, Virginia.  Programs for Members are divided into two categories according to the evolutionary status of the member company.  Pre-Launch program components are carefully constructed to help market-worthy ventures organize, formulate strategy, obtain outside investment, and launch in an efficient manner.  Enterprise class members benefit from emphasis on strategic support for ongoing growth, continuing intra-preneurship, and professional development for the corporate leader.

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Hutchison Law GroupLeClairRyan, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

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