Interactive books, games and educational app-maker TabTale has raised $12m in a new round of funding with corporate venture capital firm Qualcomm Ventures and Magma Venture Partners co-leading the round.
Additional investors include Vintage Investment Ventures and undisclosed private investors.
The capital, which brings TabTale’s total funding to $13.5m, will be used to acquire gaming companies and hire talent, the firm said. The firm is already bringing on board its first CFO, Nurit Benjamini who previously held CFO posts with tech companies Aladdin Knowledge Systems, CopperGate Communications and most recently WixPress.
The company is considering further acquisitions to complement its organic growth, it said.
“Gaming and education is at the heart of the mobile evolution. Kids are using mobile devices and apps at increasing rates. As technology evolves, rich and engaging experiences are being delivered to children in a safe manner. TabTale is at the forefront of media adoption by children,”said senior director of Qualcomm Ventures Mony Hassid.
“We Invested in TabTale from its early days as we realized the potential of the market and qualities of its management team and we are very happy with its fast growth and expansion,’ added manging director of Magna Ventures Modi Rosen.
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