CEO Kyle Wallgren is already planning to scale the company, raise a Series A round, and potentially expand into other languages. He aims to kick off a Series A round in a few months, targeting between $10 million and $15 million. Wallgren has ambitions for Edsoma to become the leading literacy resource in the United States and believes the company can outpace its competitors within the year.
Key takeaways:
- Edsoma, an AI-powered reading and education platform for children, raised $2.5 million in a seed round led by Shaquille O’Neal.
- The startup has grown from 300 to 9,000 users within two months and is planning to raise a Series A round in a couple of months, aiming for between $10 million and $15 million.
- Edsoma's app is available on Google Play and Apple App store, with a free version and two paid versions, a monthly $9.99 version and a $99.99 yearly membership.
- CEO Kyle Wallgren has plans to expand the platform to teach reading in other languages and aims to make Edsoma the No. 1 literacy resource in the United States.