Azoomee wins investors’ confidence amongst pandemic woes
Azoomee, an established and award-winning online fun and learning platform for children 4+, has received follow-on funding from Wealth Club investors. It raised over £700k in less than two weeks, at a time of historic low investor confidence.
The Company first raised capital through Wealth Club in February 2019, and has since raised £5.4 million under EIS across three funding rounds.
Azoomee (meaning “safe haven” in Japanese) was set up by husband and wife team Douglas and Estelle Lloyd in 2014, who were concerned with the content their daughters were able to access online. The Company now offers over 300 age-appropriate games and 1,500 hours of safe video content, and has grown its subscriber base to over 45 million across 190 countries.
The Company recently completed the acquisition of Berlin-based competitor Da Vinci Media GmbH on 30 December 2019, with the new combined group profitable, well-capitalised, and offering a range of award-winning multi-platform products for children aged 4-12.
In March 2019, in response to a huge uptick in global demand for its services during the current COVID-19 crisis and resulting lockdown, Azoomee sought to raise an additional £750,000+ under EIS to help fulfil higher customer demand and follow up identified business and marketing opportunities.
The Company has been able to address some of the new challenges parents are facing – having to balance working from home with teaching and keeping their children entertained.
“The current situation is putting parents under huge strain, not only to ensure their children are still learning, but also to keep them entertained and engaged, often while working a fulltime job,” commented Douglas Lloyd, CEO of Azoomee. “We’re delighted to be able to help families during this global crisis – as well as leverage numerous long-term business opportunities – with the support of Wealth Club’s outstanding community of investors.”
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