TeachStreet adds a city and a $1.2 Million investment

Seattle’s TeachStreet leveraged a big audience today as a presenter at today’s Fast Pitch Forum and announced that it has expanded to Chicago, its sixth market, bringing combined site selection to more than 140,000 classes and teachers.

Even more interesting to the venture capital heavy audience was their announcement of an additional $1.2 Million round of financing from existing investors and management team. TeachStreet rasied a $2.2 Million Series A round in February 2008 that included Madrona Venture Group, Bezos Expeditions and a group of Seattle Angel Investors.

Founder & CEO Dave Schappell explained that TeachStreet is creating a marketplace for lifelong learning, where teachers can find more students and manage their businesses, and where learners can discover the best teachers and classes in their neighborhoods.

TeachStreet is a user-driven social networking and class review website, designed to help bring students and teachers together. They’ve created a community where anyone who loves to learn can find a class that’s perfect for them, and where teachers of all subjects, from academia to pure silliness, can market themselves to potential clients.

Today’s new city launch adds Chicago to Seattle, Portland, San Francisco, Denver, and New York City and TeachStreet now boasts more than 120,000 class and student listings. Over the past 14 months, TeachStreet has sent over 200,000 leads to their teacher partners.

According to Schappell, TeachStreet includes the best features of Yelp with the monetization tools of Open Table and considers School of Everything his main competition.