LTG Exam Platform, a Boston, MA-based developer of mobile apps for standardized test preparation, closed a $5.325M Series A round of venture capital funding.
The round was led by Square Peg Capital, with participation from Atlas Venture, and individual investors Jamie McCourt, Edward and Mitch Roberts, Margot Lebenberg Carter of Living Mountain Capital, Brian Shin, and Eric Dobkin, among others.
The company intends to use the funds to build out its senior management team and strategy in key areas such as product, engineering, user experience, branding, demand generation and distribution, increase its portfolio of free consumer apps and to develop revenue streams through new products and services that enable universities, business schools and other institutions to meet their marketing and enrollment objectives.
Led by Elad Shoushan, founder and CEO, LTG provides free test prep apps (including Prep4SAT, Prep4GMAT, and the recently launched Prep4GRE for iOS and Android) that leverage a proprietary algorithm that detects student’s individual learning patterns and dynamically optimizes the study process for that student.
The apps have been downloaded by a half-million students across the world to date.