Dulles-based Verite Group Inc. spins out educational technology company

Dulle-based Verite Group Inc. has spun out Verite Educational Systems Inc., a company that designs and markets technology tools for teachers and families.

Verite Educational Systems will compete in the educational technology market, which saw total investment of $500 million in the first quarter of this year.

The company’s first product,  NetRef, will be rolled out to schools this fall and to families next spring.

The tool helps educators and parents to set the boundaries for children in using the Internet and manage their time online more productively.

Verite Group has provided Subject Matter Expert services and tailored technology solutions to large corporations and government clients for more than 10 years.

“Ten years ago, it was easy to manage my older children’s time online. It's much different now with my middle-schooler,” George Dotterer, CEO and co-founder of Verite Educational Systems, said in a statement. “When shopping for Internet security software for my home, I was dismayed to discover that schools and parents did not have access to a solution anywhere near the quality of those designed for my clients.”

The spin-out is being launched with $1.3 million in seed funding and is beginning Round A financing.