Press Release: Explain Everything secures $2M Series A Financing led by Credo Ventures for expansion in K-12
Please read the press release below about some big news for our company!
New York: May 06, 2015. Explain Everything, Inc., has secured $2 million in a Series A funding round led by Credo Ventures, a Prague-based venture capital firm, to meet demands in K-12 education for its interactive screencasting and whiteboard mobile platform in North America and international markets. New York-based New Europe Ventures, Warsaw-based RTAventures, and several private investors also joined the round.
Explain Everything™ enables users — teachers, students, and professionals — to interact in dynamic and media-rich ways through powerful features like screen recording, animation, and annotation. As more K-12 schools and higher education institutions turn to 1:1 device deployment, Explain Everything continues to be a leading provider for rich learning experiences, teacher and student collaboration, and multimedia content creation. Over 2 million people have used Explain Everything to create instructional videos, present content in live settings, and produce multimedia assessment artifacts, among many other uses. Annual download numbers for this $2.99 app increased by over 500% from 2012 to 2014, a growth trend that continues in 2015.
“Mobile devices and tablets are transforming global education and Explain Everything is at the forefront. The strong traction that the company has generated along with the reception from students and teachers is a testament to the speed and scale of this transformation. We believe that Explain Everything holds great potential as it expands in the K-12 education system, especially across North America, Europe, and Australia” said Jan Habermann, Partner at Credo Ventures.
Explain Everything™ is based on the intersection of a powerful animation engine, educational research and the enthusiasm of its content-creating user base. Explain Everything™ is installed on about 10% of all tablet devices used in K-12 schools in the U.S. and has been used as an exemplar in educational marketing and outreach initiatives by both Apple and Google.
“We’re seeing a significant demand for our interactive screencasting whiteboard app for use in classrooms, schools, and beyond,” says Bartosz Gonczarek, CEO of Explain Everything, INC. “We’re excited about the investment as it helps us meet the growing needs of new 1:1 deployment schools and their users and helps us satisfy the perspectives and opportunities shared with us by OEMs and other business development partners. A majority of the features introduced since the first version have come from user requests, we look forward to continuing to help people bring their creative ideas to life and share them.”
David W. Malone, Deployment Architect for San Francisco Unified School District says, “Explain Everything is essential for student-driven, formative assessment. Most apps are highly specialized and only support a few, limited outcomes. Explain Everything adapts to a user’s needs and becomes a natural extension of his or her knowledge. There is almost no limitation to how students can demonstrate understanding with Explain Everything.”
Co-founded by Bartosz Gonczarek, Piotr Sliwinski, and Reshan Richards, the company consists of 35 talented people based in New York, NY and Wroclaw, Poland. For more information and employment opportunities, please visit explaineverything.com.
About Credo Ventures
Based in Prague, Czech Republic Credo Ventures is a venture capital firm established in 2009 with the goal to become a premier venture capital firm investing in early stage companies in the fields of Internet, IT and Health in Central Europe. Credo Ventures believes in entrepreneurship and the ability to take Central European projects and companies from zero to success on a global scale. Credo Ventures builds upon strong international relationships; its Advisory Board is headed by technology visionary and investor Esther Dyson and its Investment Committee Chairman is Eduard Mika, one of the most prominent technology entrepreneurs in Central Europe.
For more information, please visit www.credoventures.com.
About RTAventures
RTAventures is a venture capital firm that was established in 2011 and is headquartered in Warsaw, Poland. The firm focuses on investments in early stage internet and health tech projects, with special focus on SaaS and marketplaces. RTAventures looks to support aspiring entrepreneurs across Europe who seek experienced partners for growth financing.
For more information, please visit www.rtaventures.com
About New Europe Ventures
New York-based New Europe Ventures was established in 2007 by a group of Polish-American investors and technology entrepreneurs. The firm’s mission is to fund, grow and globalize the development of Central Europe’s extraordinary high-technology ventures. NEV portfolio companies leverage our relationships and experiences from the US to rapidly scale their business beyond local markets.
For more information, please visit www.neweuropevc.com
For press inquiries please contact
Bartosz Gonczarek, CEO & Co-Founder, Explain Everything
+48 664 976 284, bartosz.gonczarek@explaineverything.com
