Speakaboos, a NYC-based mobile education platform for literacy and language learning, raised an additional $6.5m in Series B funding.
The round was led by Rick Segal, Managing Partner of ReThink Education and The Al Sayegh Group (strategic operating partners for Berlitz and LG), alongside new participation from an education industry syndicate that includes Deborah Quazzo, Co-Founder of GSV Advisors; Helena Wong, former President of International for Rosetta Stone; and Scott Booth, Founder and Special Advisor, Lead Edge Capital. Existing investors include venture funds such as Advancit Capital, strategic education investors such as the Kyowon Group (the largest education company in Korea), strategic international investors such as Ninestars and industry executives such as Gerald Hughes, former President & COO of Houghton Mifflin Harcourt. In conjunction with the funding, Rick Segal, Managing Partner of ReThink Education, joined as the Chairman of the Board.
The company, which has raised $12.7m in total, intends to use the funds for product development and engineering, content development and licensing, expanding distribution, as well as marketing and customer acquisition.
Led by Neal Shenoy, CEO, and Noelle Millholt, Speakaboos is a mobile education platform for early childhood literacy and language learning. It features a large catalog of interactive stories and songs developed by experts and delivered to children across all digital platforms in strategic partnership with education, media and technology companies.
FinSMEs
13/11/2014