Sumdog, an EdTech firm based in Edinburgh, has secured £1.4m in funding from Nesta Impact Investments and the Scottish Investment Bank.
According to a company-issued statement, Sumdog is looking to expand its Scotland-based team and bolster its New York presence with senior team appointments.
The startup, which seeks to encourage students to practice their maths, reading and writing skills on its platform, says it would like to help 15 million children across the UK and the US in the next five years.
Andrew Hall, Sumdog‘s CEO, said: “This is a really exciting time for Sumdog as we seek to expand our team to include the specialist skills we will need to achieve our future ambitions. As a high-impact company, our core mission is to close the educational attainment gap by helping all children reach their full potential.”
“By capturing children’s imagination, Sumdog wants to become a world leader in online learning, starting with maths and English but ultimately covering a much broader range of subjects,” he added.
The firm says it saw a 50% increase in terms of turnover during 2016 and claims to be in use across a “large number” of primary schools in the UK and the US. Sumdog is also looking to create an immersive 3D learning environment to enhance users’ experience.
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Ishaan Chilkoti, a member of the Nesta Impact Investments team, said: “This investment in Sumdog aligns with Nesta Impact Investments’ strategy to invest in innovative approaches and technologies to improve access to high quality education and employment for all. We believe Sumdog has developed a proven platform for online learning. They have shown a clear commitment to achieving social impact and are already reaching large numbers of children from disadvantaged backgrounds, both here in the UK and in the US. We are excited to support them as they embark on ambitious plans for future growth.”
Kerry Sharp, director of the Scottish Investment Bank, said the decision to back Sumdog was based on its “innovative approach, commitment to inclusion, international outlook and economic added value”.
“Sumdog is another example of a strong, successful Scottish company to come out of Edinburgh’s tech business hub and is a huge endorsement for Scotland’s position as one of the leading tech hubs in the world. In addition to investment, Scottish Enterprise has been supporting the company through our account management team in areas such as innovation, R&D and international market development,” Sharp concluded.
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