Jaramba launches new service targeting the global preschool market and raises new capital
Streamience - developer of Jaramba, the best grossing Swedish EdTech app for children, launches ”Jaramba Preschool”, a new digital learning tool for the preschool market, and raises funding to finance growth and further development of new services.
Since the launch of Jaramba last year, the app-enabled service has topped the App Store charts for children under 5. Jaramba offers parents and their toddlers a safe digital environment on mobiles and tablets where their children enjoy a curated mix of books, movies, games and interactive learning materials. The rapid growth confirms a strong demand from parents. Jaramba has also been used by many Swedish Preschools where tablets are more prevalent than ever before and where digital learning tools are gaining ground. This led to the development of Jaramba Preschool - designed for use by preschool teachers in preschool environments. It also puts Jaramba in a position to become an important player in the EdTech market, expected to be worth $250bn globally by 2020.
Jaramba Preschool, launched this October, has since enjoyed strong growth, contributing both to our children’s education and to the advancement in the EdTech sector. “We believe in a service with a lot of educational content, a never-ending stream of new content and easy to use functions that facilitates for preschool teachers to focus on and introduce digital learning in pre-schools. We also want the educators to take part in developing the app together with us and so far, with more than 1,000 pre-schools joining in October, it indicates that the interest is mutual,” says Michael Hallgren project manager. “Having already reached more than 1,000 out of the 10,000 preschools in Sweden, we are excited to focus on fast paced growth and to establish Jaramba Preschool as the best digital learning tool in the market.”
Streamience is currently finalizing capital raising primarily directed to existing shareholders to fund accelerated growth for Jaramba and Jaramba Preschool, as well as looking at new markets and products. Streamience is planning to address a broader investor universe in 2018. “We have received interest from a wide spectrum of investors and will therefor definitely follow up on this going forward,” says Streamience co-founder and CEO Peter Sjöström.
For more information please contact:
Peter Sjöström, co-founder and CEO Streamience
onsdag 1 Nov 2017 kl 13:47