#WCW Shauntel Garvey — Tech Can Solve America’s Education Gap
Welcome to All Raise’s Women Crush Weekly (#WCW), a series where we highlight genius women who are funding or founding tech companies. Please come back to the All Raise Medium blog every week to find a new profile of an awe-inspiring female VC or founder. July is education month and kicking off our first #WCW is Shauntel Garvey from Reach Capital.
Why did you start Reach Capital?
My mother is an educator who instilled in me the importance of education as it was her path to upward mobility. She made sure I had access to the best educational opportunities growing up, which shaped the trajectory of my life. Through Reach, I have the opportunity to support visionary founders that are building solutions to enable more people to personally experience the transformative power of education.
What is the mission of Reach? What is your differentiated investment thesis?
Our mission is to unleash human potential. We believe massive global businesses can be built at the intersection of technology and education and we back founders building products that inspire and empower learners at every life stage.
We are investing in the future of learning which we believe is learner-centric, social and community-based, and happens anytime, anywhere. Our current focus areas include 1) career pathways- solutions that help learners develop in-demand hard and soft skills and 2) learning enablers- supports and interventions that improve students’ ability to learn. You can read more about our latest investment thesis here.
How do you think technology will change the future of society and education?
I think technological advances like automation and artificial intelligence will fundamentally change the nature of work and thus require a shift in what we learn and how we learn.
As the pace of change continues to accelerate, everyone will need to be a “lifelong learner.” We now have a wealth of knowledge and resources at our fingertips thanks to the internet and smartphones. However, knowledge acquisition will be insufficient in a world of automation. Therefore we need solutions that equip individuals and communities with “future ready skills” such as complex problem solving, critical thinking, creativity, collaboration, and adaptability.
Many of these skills are best acquired through relationships and human interaction, which technology can both hinder and enable. We are seeking solutions that not only combat social isolation, but enable deeper connections both locally and globally.
We invested in Holberton School, for example, because their project-based, peer-to-peer learning model trains software engineers to not only code but also collaborate and learn how to learn. Although the program is primarily in person, technology enables connections among students, mentors, and communities across their campuses globally.
Do you think technology can help solve the education gap in America?
Absolutely! One of the reasons for the education gap is an access gap. Technology can help to broaden access to information, resources, interventions, communities, and experiences that facilitate learning and development.
Our portfolio companies are using technology to expand access to education in a variety of ways across age ranges: connect families to local outdoor learning experiences for preschoolers, execute virtual field trips for students who have never left their neighborhoods, provide 24/7on-demand tutoring for those traditionally unable to afford it, answer questions via chatbot to help first-generation college students navigate to and through college, and facilitate live interactions among students and educators and employees and executive coaches.
Was being a VC always your dream job? If not, what was?
Not at all, I didn’t even know what a VC was until I became one. My dream was to work in education technology, but I thought I would be on the other side of the table as an operator.
What is your favorite part of your job?
I enjoy company pitches because I get inspired by a founder’s unique story, and their ideas often give me a glimpse into the future. My favorite part of the job, however, is working with founders to help their visions become a reality. I like investing at the seed stage because I have had the pleasure of seeing ideas on paper become companies with hundreds of employees serving millions of people.
What makes a company investment-worthy?
I see a lot of companies that are great businesses, but not venture backable because their total addressable market (TAM) is too small. In addition to a large TAM, an investment worthy company will be solving a pain point, have early signs of product-market fit such as a loyal user/customer base, and have a clear plan on how to use the funds to accelerate growth.
What do you look for in an entrepreneurial team?
First and foremost, a team that is mission-driven and motivated to build a large, impactful business. I also look for a team that is scrappy, hungry, lean, customer-centric, coachable and has high integrity. In edtech specifically, I look for complementary skill sets and expertise in business, education, and technology. I also like founders that have personal experience with the pain point they are addressing, such as former educators.
What advice do you have for aspiring female VCs?
Be an operator first so you can better empathize with founders. Continually build your network, making the most of every interaction because VC is a relationship business. Develop a point of view in an area of interest and become a thought leader in that area.
If you could have a conversation with your 18-year-old self, what advice would you give to her?
Don’t let others define success for you. Chart your own path and don’t ignore that inner voice telling you to follow your dreams, even if it means taking a risk or disappointing someone.
Outside of VC, how do you like to spend your time?
I like to stay active, and I enjoy hiking all over the Bay area, running around Lake Merritt in Oakland, and hip-hop dancing.
