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Monday, August 11, 2008

Knowledge Adventure Secures $5 Million In Series B

Educational software developer Knowledge Adventure announced that it received $5 million in a Series B round of funding led by venture capitalist firms Azure Capital and Telesoft partners.

The funding will go towards the company's shift of focus from educational software to adventure-based 3D virtual worlds for kids. Knowledge Adventure intends to create and support a new team to develop and produce its 3D virtual world online environments.

Knowledge Adventure recently released JumpStart Advanced Preschool World, software for teaching 3-to-5 year olds pre-reading, early math, social studies, art, music, computer skills, and critical thinking skills.

The company plans to launch an online component with subscriptions allowing users to interact with one another in JumpStart's 3D virtual world, going on adventures, completing missions, and earning rewards while learning.

Former RazorGator Interactive Group CEO and president David Lord was recently brought in as Knowledge Adventure's president and CEO with the purpose to evolve the company towards a "multi-faceted kids entertainment company with both retail and online virtual world components."

Said Lord: “JumpStart has a rich history as the leading brand in delivering learning games to kids over the last 20 years. By leveraging our trusted brand with parents to deliver a rich, safe and fun virtual world experience for kids 3 to 10, we see countless opportunity for the company to bring our unique adventure-based learning games to the explosive virtual world/online gaming market.”

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Posted by Eric Caoili on August 11, 2008 11:33 AM |

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