Boston-based Flashnotes had received USD 1.5 million in the seed round extension from new investor Nicole Stata of Boston Seed Capital and returning investors Ryan Moore of Atlas Venture and Jordan Levy of Softbank Capital. Angel investors Deborah Quazzon, Jere Doyle, and Bob Mason also provided financing. Flashnotes is an online marketplace where students can buy and sell notes, flashcards, and video tutorials.  They are allowed to set their price for their own content and can earn up to 70% for each sale.

Founder and managing director of Boston Seed Nicole Stata only has high praises for the start-up. "Flashnotes has built, and is quickly expanding, a marketplace that delivers high-quality and high-value material. Importantly, they are trusted by both buyers and sellers. We are impressed with the team and their approach to this market opportunity," she said.

In a related development, Flashnotes has also bought NoteUtopia, an online community that is also engaged in the same business of buying and selling class notes, for an undisclosed amount.