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
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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