• Venture Beat, Monday, October 17, 2011 12 AM

Online study companion Grockit just closed another $7 million round of financing led by existing backer Atlas Ventures. Applying social networking and gaming mechanics to studying, Grockit lets students work on sample test problems together, and rewards them with points and badges. Also, the start-up “has been on a bit of tear recently,” writes VentureBeat.

Since the beginning of September, the company integrated with Facebook’s Open Graph API “to give students access from within Facebook, introduced a one-for-one program called ‘Grockit for Good’ that matches each account purchased with one-year of free access for under-served students, added a VP of engineering, and teamed up with the Gates Foundation and the Kauffman foundation to launch Startup Weekend EDU series,” VentureBeat notes.

Additional investors included NewSchools Venture Fund, Michael Moe from GSV Capital, Benchmark Capital and Integral Capital. To date, the company has raised a total of $24.7 million in angel and VC investment, while early angel investors included Mark Pincus, CEO of Zynga and Reid Hoffman.

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