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Picmonic Raises $2.3M

Picmonic Raises $2.3M

  • Updated

Financing Enables EdTech Firm to Deliver Enhanced Visual Learning

Tools

PHOENIX--(BUSINESS WIRE)--Picmonic,

Inc., the visual learning community, has closed a $2.3 million

funding round. The Tempe, Ariz., EdTech startup will use the financing

to further the mission of helping students succeed. The funds will go

toward enhancing its visual learning platform where users create, share

and explore audiovisual study cards, called picture mnemonics or

“Picmonics.”

“Multimedia learning will fundamentally transform how the modern day

student is able to comprehend, retain and apply knowledge,” said Ron

Robertson, CEO and co-founder of Picmonic. “This raise will allow us to

create an even more simple, efficient and personalized learning

experience for the 100,000 plus medical and nursing student users who

currently rely on our platform.”

The new capital will also propel the development of a user authoring

toolset that will give all student users the ability to create their own

Picmonics. Several mobile enhancements will be rolled out alongside the

added toolsets.

Picmonic plans to increase market penetration beyond their current

student user base that spans 1,000 medical and nursing schools, as well

as expand into new student disciplines. The $2.3 million brings the

total money raised by Picmonic to $5 million since their founding in

2011. Professional investment groups 2M Companies of Texas and Tallwave

Capital of Arizona participated in the raise, as did Arizona Tech

Investors, Desert Angels, and CEO of Parchment and co-founder of

Blackboard, Matt Pittinsky, also of Arizona.

“Picmonic is uniquely positioned to change the way people learn for the

better,” said Ameeth Sankaran, Investment Partner, 2M Companies. “In a

very short time, the company has made a significant impact on education,

and we are excited about their future.”

Picmonic also plans to grow their Tempe-based team. “The additional

financing will allow us to hire new marketing, customer facing, and

technical talent, including additional PHP and iOS developers,” said

Adeel Yang, President and co-founder, Picmonic. The firm currently

employs more than 30 in the Phoenix area.

Supporting Resources:

· Get study tips and tricks on the Picmonic blog

· Friend Picmonic on Facebook

· Follow Picmonic on Twitter

About Picmonic

Picmonic brings the power of social visual platforms to learning. It

helps people create, share and explore highly effective audiovisual

study cards, called “pictorial mnemonics” or Picmonics, which are proven

to increase memorization capacity and improve long-term recall of

information. They incorporate humor and unforgettable graphics to make

learning fun. The Picmonic vision is of a social, educational platform

where anyone can author, share and discover Picmonics to improve

academic, professional and personal learning outcomes.

The Picmonic story began in medical education, where thousands of

learners around the world are utilizing Picmonics to learn high stakes

pre-medical, medical and nursing content and increase their test scores.

Millions of postsecondary and professional education students across the

globe will learn with Picmonic and have fun while mastering information

like never before. Picmonic gives every student the power to create an

engaging and personalized learning experience, while building a

connected and collaborative learning community.

Established in 2011, Picmonic Inc was founded by two medical students

and is backed by Matt Pittinsky and Bobby Babbrah.

Contacts

Kimberly Communications

Kimberly Boeckenstedt, 319-389-6953

kb@kimberlycommunications.com


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