K-12 Dealmaking: Epic! Raises $8 Million; KidPass Raises $5.1 Million
In recent dealmaking news, digital book service Epic! raised $8 million in a funding round led by Reach Capital. Also, a provider of online activities for children and families, KidPass, has raised $5.1 million, and a pair of companies are partnering with each other in using interoperability standards.
Epic! Raises $8 Million: Epic!, a digital brand for kids, has raised $8 million in Series C funding led by Reach Capital with participation from TransLink Capital, Rakuten Ventures, Menlo Ventures, WI Harper, Brighteye Ventures and Innovation Endeavors. The company said it will use the funds to accelerate growth, expand its team and build out its platform in both the home and in schools.
Epic!’s subscription service provides kids access to more than 25,000 curated books and videos. The company partners with 250 publishers and video providers such as HarperCollins, Macmillan, Sesame Workshop, National Geographic Kids and Smithsonian Enterprises.
“We invested in Epic! because of the excitement from teachers and children who were delighted by the platform,” said Jennifer Carolan, general partner at Reach Capital, in a statement.
KidPass Raises $5.1 Million: KidPass, a subscription-based online service that connects parents and kids with activities, took in $5.1 million in Series A funding.
The round was led by Javelin Venture Partners, with participation from new and existing investors, including CoVenture, Y Combinator, TIA Ventures, Bionic Fund, Cocoon Ignite Ventures, and FJ Labs, among others, according to a blog posting on the company’s website.
“With the new funding, we will now be able to significantly accelerate our growth through further investment in our technology platform, as well as reach thousands of new families as we launch additional cities,” the company said in the blog posting, noting that the service is currently live in New York and will soon expand into new cities including Los Angeles, San Francisco, Seattle, Boston, Philadelphia, Washington DC, and Chicago.
KidPass launched in 2016 and closed a $1.2 million seed funding round last September.
Genext Students Raises $580,000: Mumbai-based tutoring platform Genext Students has raised $580K in a pre series A funding round from undisclosed investors, according to press reports.
The funding will be used towards team building, strengthening its technology and expanding its services to new cities in India, according to reports.
The company, launched in 2013, aims to help parents and students find home tutors for various Indian national boards such as CBSE and ICSE.
Cerego Partners with Cengage: Cerego, a personalized learning technology company, has joined IMS Global Learning Consortium and formed a partnership with education and technology company Cengage, an education and technology company, according to a statement.
As a result of the partnership, Cerego and Cengage will collaborate around an implementation of IMS Global’s Learning Tools Interoperability Membership Service 1.0 specification. The specification enables features that make integration of learning tools with learning platforms more seamless, helping instructors save time and improving the learning experience across mobile devices, according to the companies.
“By collaborating with Cengage to implement this vital LTI specification, we are laying the foundation for achieving seamless interoperability in all instructional applications used by instructors and students in education institutions nationwide,” said Andrew Smith Lewis, CEO of Cerego.
IMS Global is a non-profit member collaborative that seeks to enable a “plug & play” architecture and ecosystem, providing a foundation on which products are rapidly deployed and work together, according to to the organization’s website.
Be sure to check back on Marketplace K-12 for updates on mergers, acquisitions, fundraising, and other dealmaking.
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