Booktrack announces Series A funding, expansion into education
April 15, 2014 | 2:25 pm
Booktrack, the startup company that adds soundtracks to ebooks, has announced its expansion into educational applications, as well as details of its recently completed Series A funding round. For those unfamiliar with the terminology of venture capital, Series A generally designates the first serious institutional round of VC investment into a startup, following angel investment and seed rounds, hence indicating that the company has now proven its proposition and is ready for expansion. And Booktrack came in right in the usual range for this level of investment, at $3 million in financing led by Sparkbox Ventures.
According to the release, Booktrack will use the funding in part to support expansion of its “dedicated education platform, Booktrack Classroom,” which “gives students free access to soundtracked eBooks, from famous classics to contemporary titles and the ability to easily create their own Booktrack titles by matching their stories to an extensive library of over 20,000 free-to-use high quality music and ambient audio tracks.” The company cites studies showing that its service led to 30 percent more time spent reading and 17 percent higher comprehension among middle school students tested. Booktrack also offers Booktrack Studio, online and in mobile apps, “that provides self-published writers and publishers with the ability to add soundtracks to their eBooks.”
Booktrack CEO Paul Cameron said in the announcement: “With the increasing number of distractions available to kids across video games, television, and apps, teachers and parents often struggle to get students excited by reading and writing. Booktrack not only makes reading and writing much more fun, but as our recent study shows, also improves learning. This is why we are making the Booktrack Classroom system free to all schools.”