A leading innovator in educational technology, Mrs Wordsmith, has recently secured $11 million to fuel its global expansion efforts. This funding signifies a new chapter of growth and innovation as the company targets international markets.
With strong backing from key investors and a strategic plan, the company is set to break new ground in the U.S. and China, aiming to redefine educational content with creativity and research at its core.
EdTech Brand’s Remarkable Fundraising Success
London-based EdTech company, Mrs Wordsmith, has successfully raised $11 million in a Series A funding round, aimed at supporting its ambitious expansion goals in the U.S. and Chinese markets. This remarkable achievement reflects the company’s ongoing commitment to revolutionising the education industry with its innovative products. The funding round was spearheaded by Trustbridge Partners with continued support from returning investors Reach Capital and Kindred Venture Capital.
Since its inception, Mrs Wordsmith has demonstrated exponential growth, boasting triple-digit gains year-over-year and shipping over 200,000 units. Notably, the launch of its U.S. store in June 2018 now contributes to 85 per cent of the company’s revenue, highlighting the brand’s quick adaptability and consumer appeal in a competitive market.
Transforming Education with Creativity and Data
Mrs Wordsmith stands out in the educational landscape by providing products that are data-backed and creatively engaging. “The world of content is upside down,” said founder and CEO, Sofia Fenichell, highlighting the discrepancy in spending on educational versus entertainment content. The company aims to shift this paradigm by offering products that are supported by extensive research and wrapped in captivating illustrations to engage young learners.
The company’s investment in research and creative talent is evident in their expansion efforts to produce illustrated word products. Collaborating with Hollywood art director Craig Kellman, Mrs Wordsmith utilises the talents of story artists to create a vast inventory of educational content. This creative approach is coupled with substantial investment in machine learning technologies, boasting over 5,000 hours of development, guided by experts like Rob Koeling from Benevolent AI and Cambridge University’s Professor Ted Briscoe.
Impact and Recognition in the Educational Sector
Mrs Wordsmith’s innovative approach is receiving positive recognition and impact in the educational sector. A recent study by the National Literacy Trust involving 122 children in six schools revealed a notable 50 per cent improvement in word learning, illustrating the effectiveness of the company’s educational materials.
Further validation comes from the strategic government school improvement fund (SSIF), which awarded Cambridgeshire local authority a grant of £47,000 to integrate Mrs Wordsmith’s resources and training in 88 classrooms, underscoring the brand’s growing influence and recognition within educational circles.
This recent funding is not just about expansion but also about enhancing the product offerings in 2019. Plans include a new animated vocabulary game and video, alongside the launch of the Illustrated Storyteller’s Dictionary, described as the world’s largest animated dictionary.
Driving Growth with Expert Talent
To fuel its growth and international reach, Mrs Wordsmith has enhanced its team by attracting industry experts. Most notably, the company appointed former Pixar Animation Studios senior executive Will Csaklos as head of development, bringing valuable experience and insight to the team.
This strategic hire is aimed at ensuring the quality and creativity of the company’s offerings meet the highest standards, further solidifying its position in the global EdTech market. The infusion of new talent is a testament to Mrs Wordsmith’s commitment to deliver exceptional and engaging educational solutions.
Looking Forward: Expanding Horizons
With the infusion of $11 million in new funding, Mrs Wordsmith is poised to broaden its global footprint and influence in the EdTech industry. The funds will be used to deepen market penetration and product development, strengthening the company’s competitive edge.
As Mrs Wordsmith continues to innovate and expand, the emphasis remains on delivering top-tier educational products that combine creative engagement with cutting-edge research, thereby setting new standards within the industry.
The upcoming release of new products, such as an animated vocabulary game, illustrates the brand’s forward-thinking approach and commitment to enhancing language learning through effective and entertaining methods.
Strategic Partnerships and Continued Growth
The collaboration with Trustbridge Partners and returning investors solidifies Mrs Wordsmith’s reputation as a formidable player in the EdTech space. These strategic partnerships are crucial for the brand’s continued success and expansion globally.
Such alliances enable the company to leverage diverse expertise and resources, supporting the development of innovative products that address the educational needs of children across different regions. Trustbridge’s involvement also brings additional credibility and insights to the company’s growing portfolio.
Looking ahead, these partnerships will play an integral role in navigating the challenges and opportunities that come with scaling globally, ensuring that Mrs Wordsmith’s mission to transform education remains steadfast and achievable.
Mrs Wordsmith’s $11 million funding milestone marks a pivotal moment in its journey towards transforming education globally. The company’s strategic partnerships and innovative products position it for sustained success and impact.
With a clear vision and expert team, Mrs Wordsmith is well-equipped to lead the EdTech sector into a new era of engaging and effective learning solutions.