About Summer
Summer is a company based in New York (United States) founded in 2018 by Paul Joo and Will Sealy. It operates as a Subscription Services, and Managed Services. Summer has raised $34.51 million across 3 funding rounds from investors including Avidbank, Partnership for New York City and Rebalance Capital. Summer offers products and services including Student Loan Relief, Education Assistance, and Employer Student Loan Benefits. Summer operates in a competitive market with competitors including Tuition.io, ScholarPro, Sproutly, Versura and MereExams, among others.
- Headquarter New York, United States
- Founders Paul Joo, Will Sealy
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Sectors
EducationFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Summer, Pbc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$34.51 M (USD)
in 3 rounds
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Latest Funding Round
$18.51 M (USD), Series B
Apr 08, 2024
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Investors
Avidbank
& 12 more
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Employee Count
Employee Count
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Products & Services of Summer
Summer offers a comprehensive portfolio of products and services, including Student Loan Relief, Education Assistance, and Employer Student Loan Benefits. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Student loan relief solutions are provided for individuals.
Education cost planning support is offered to employees.
Student loan benefits are facilitated for employer programs.
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Funding Insights of Summer
Summer has successfully raised a total of $34.51M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $18.51 million completed in April 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $18.5M
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First Round
First Round
(01 Oct 2019)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2024 | Amount | Series B - Summer | Valuation | Rebalance , Sempervirens Fund | |
| Apr, 2023 | Amount | Series A - Summer | Valuation |
investors |
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| Oct, 2019 | Amount | Series A - Summer | Valuation | QED Investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Summer
Summer has secured backing from 13 investors, including institutional and venture fund investors. Prominent investors backing the company include Avidbank, Partnership for New York City and Rebalance Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investment and transformation services for entrepreneurs in technology and finance sectors.
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Founded Year | Domain | Location | |
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Venture capital fund investing in early-stage start-ups
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Founded Year | Domain | Location | |
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Flourish Ventures is focused on investing in mission-driven fintech entrepreneurs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Summer
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Summer
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Summer Comparisons
Competitors of Summer
Summer operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tuition.io, ScholarPro, Sproutly, Versura and MereExams, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Student loan repayment and tuition assistance benefits are provided.
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| domain | founded_year | HQ Location |
Provides premium domain sales and discounted registration with free support features.
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| domain | founded_year | HQ Location |
Financial services are offered to schools and families in Africa.
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| domain | founded_year | HQ Location |
Functions as an online exchange platform for education loans, connecting borrowers and lenders.
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| domain | founded_year | HQ Location |
Discovery portal for colleges, coaching institutes and tutors
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Summer
Frequently Asked Questions about Summer
When was Summer founded?
Summer was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is Summer located?
Summer is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Summer?
Will Sealy is the current CEO of Summer. They have also founded this company.
Is Summer a funded company?
Summer is a funded company, having raised a total of $34.51M across 3 funding rounds to date. The company's 1st funding round was a Series A of $10M, raised on Oct 01, 2019.
What does Summer do?
Student loan relief and education cost planning are facilitated by Summer for individuals, employers, and government entities. Services are offered across financial wellness sectors, targeting student debt reduction and college savings. Solutions include optimizing debt repayment, advancing education through savings plans, reducing payments via contributions, and fostering growth with tuition support. Operations span partnerships with leading employers and government officials to deliver over 1.8 billion in savings.
Who are the top competitors of Summer?
Summer's top competitors include Tuition.io, Sproutly and Hawkes Learning.
What products or services does Summer offer?
Summer offers Student Loan Relief, Education Assistance, and Employer Student Loan Benefits.
Who are Summer's investors?
Summer has 13 investors. Key investors include Avidbank, Partnership for New York City, Rebalance Capital, Sempervirens Fund, and General Catalyst.
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