Speakaboos, a NYC-based educational technology company that promotes learning through interactive media for children, raised$12.5m in Series B-1 financing.
The round was led by Wellington Management Company, with participation from Advancit Capital, Kyowon Group, Rick Segal, Managing Partner of ReThink Education, Deborah Quazzo, Founding Partner of GSV Advisors, Betty Cohen, Founding President of Cartoon Network, Gerald Hughes, Operating Partner at Castanea Partners and former President & COO of Houghton Mifflin Harcourt, Helena Wong, former President of International for Rosetta Stone, and Dave Pottruck, Chairman of HighTower Advisors and former CEO of Charles Schwab. In conjunction with the funding, Rami Rahal, Founding Partner at Blue Cloud Ventures, joined the company’s Board.
The company, which has raised $25m to date, will use the funds for global marketing and customer acquisition initiatives.
Led by Neal Shenoy, CEO and co-founder, and Dr. Alice Wilder, Chief Learning Officer, Speakaboos has just launched its reading app for early childhood literacy. It features a catalog of over 200 interactive stories categorized by children’s interests from dinosaurs, princesses and animals to space, robots, music and more – with illustrations, animated characters and story-driven touch-screen interactions that keep children engaged through active learning and motivated to read anytime.
Speakaboos are available on computers, tablets or mobile devices and distributed to thousands of children in homes, schools and libraries globally in strategic partnership with the education, media and technology companies.