New York City and Poland-based education tech startup Explain Everything has raised $2 million in Series A funding. Credo Ventures led the round with participation from other investors that included New Europe Ventures and RTAventures.
NEW YORK, May 13, 2015 /PRNewswire/ — 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 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 and higher education institutions turn to 1:1 deployments, Explain Everything continues to be a leading provider for rich learning experiences, collaboration, and content creation. Over 2 million people have used Explain Everything to create instructional videos, present content in live settings, and support assessment, among many other uses. Annual download numbers for this $2.99 app increased by over 500% from 2012 to 2014, growth 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.
“We’re seeing significant demand for our interactive screencasting whiteboard app in classrooms, schools, and beyond,” says Explain Everything CEO Bartosz Gonczarek. “We’re excited about the investment as it helps us meet the growing needs of new 1:1 schools and their users, and helps us satisfy perspectives and opportunities shared with us by OEMs and other business partners. Most of the features introduced since the first version have come from users. We look forward to continue helping people bring to life and share their creative ideas.”
David Malone, Deployment Architect for San Francisco Unified School District says, “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 in New York, NY and Wroclaw, Poland. For more information please visit www.explaineverything.com.