Woozworld, Inc., a Montreal, Canada-based operator of a Web site where children and teenagers (aged from 9 to 14) can creatively engage with their peers, design their own spaces and set up their activities, completed a $3m Series A financing round.
The round was led by iNovia Capital and ID Capital, a division of Telesystem Group.
The company will use the new funds to spin off from virtual world developer Tribal Nova, Inc., which incubated and launched Woozworld in December, 2009, to become a new entity.
Woozworld intends to continue developing and promoting its service.
In conjunction with the funding, Chris Arsenault of iNovia Capital and Daniel Cyr of ID Capital will be joining the company’s board of directors.