US-based mobile education platform Speakaboos has secured $6.5m in a series B round led by diversified conglomerate Al Sayegh Group and Rick Segal, managing partner of venture capital fund ReThink Education.
The round also featured angel investors Deborah Quazzo, Helena Wong and Scott Booth. Speakaboos previously raised $6.2m in an August 2013 series A round featuring Segal, educational content provider Kyowon, 212Media, Advancit Capital and Gerald Hughes.
The company, which offers a subscription-based service to teach children literacy skills, will use the series B funding to support product development and engineering. It will also develop and license more content, increase distribution and increase its marketing efforts.
Neal Shenoy, chief executive of Speakaboos, said: “As a result of our growing distribution footprint, our subscriptions are growing exponentially, and we have been able to secure strategic support from leading industry investors in the edtech space globally.”