TabTale, an Israel-based creator of interactive books, games, and educational apps for children, has received $12m funding co-led by semiconductor company Qualcomm Incorporated, through its venture capital arm Qualcomm Ventures, and existing investor Magma Venture Partners; the funding round included the participation of investors including Vintage Investment Ventures.
The latest funding round brings TabTale’s total funding to $13.5m.
The funding will go towards acquiring gaming companies and new hires, starting immediately with the hire of Nurit Benjamini, who will serve as the company’s first Chief Financial Officer (CFO). Prior to joining TabTale, Benjamini served as CFO at technology companies including: Aladdin Knowledge Systems, CopperGate Communications and most recently WixPress.
Sagi Schliesser, founder and chief executive officer of TabTale. “In less than three short years we’ve reached profitability, and are consistently one of the top publishers in the App Store, Google Play Android and Amazon marketplace. Qualcomm Ventures and Magma Venture Partners are not simply tremendous investors, they are also true partners in helping us build the business.”
Mony Hassid, senior director for Qualcomm Ventures, 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.”