Education technology business Kidaptive collects $10.1m venture-backed Series B


playing-leos-padFormation 8 has led a $10.1m Series B financing round for education technology company Kidaptive.

Menlo Ventures and the Stanford-StartX Fund also backed the round according to Kidaptive, which said NewSchools Ventures and Prana Studios had also reinvested in the business.

The team plans to develop a total of 25 animated appisodes for its award-winning Leo’s Pad: Preschool Kids Learning Series for iPad, and fuel the growth of its curriculum-based learning programme.

Kidaptive co-founder and CEO PJ Gunsagar said, “Kids are increasingly spending more minutes on screen time each day, but parents don’t yet have a great readout on what they’re learning from these activities or even what’s capturing their imagination.

“We can do so much more with tablet time for our kids than use it as a digital babysitter.

“We’re excited about the value we can create for parents by helping them to become informed participants during a critical time in their children’s early education.”

Copyright © 2013 AltAssets