KENDALL PARK, N.J. and BANGALORE, India, June 12, 2013 /PRNewswire/ -- Tabtor today announced that it has closed $1M in Seed round funding led by New Jersey based, SoundBoard Angel Fund, as well as marquee and strategic investors like Aarin Capital Partners, Sand Hill Angels, BITS Spark Angels, alongside other individual investors on an oversubscribed Series Seed round. With this round of financing, the New Jersey based startup has raised over $1M.
"We are pleased to have successfully closed this round," said Raj Valli, Tabtor CEO. "This capital provides Tabtor with the resources that will drive our expansion and place us solidly in the educational technology market – a market that is just beginning to take off."
Tabtor's solution is unique because it tracks the path students take to solve problems, which allows the teacher to understand how a student arrived at the answer versus only seeing end results through test scores. Parameters, such as learning velocity, confidence metric and data driven exception analysis are tracked in the program, providing an in-depth analysis of what a student does at the point of learning, similar to what a GPS like device does for tracking driving behaviors. Raj Valli, Tabtor CEO believes education is stuck in the 19th century without existing technology tools that help teachers do their jobs more efficiently and effectively with data driven insights into student performance. Tabtor is starting their journey with the subject of mathematics and is seeing tremendous usage across many areas of education. Tabtor is gaining customers in private schools in the United States and India, as well as creating a version available for tablets (currently on iPads), offering students and families tutoring opportunities from home.
"We are really looking forward to working with Valli to bring his vision to fruition - especially as it's a local company with significant global transformative potential. Few entrepreneurial leaders have his experience, foresight, and can put together such an all-star team," said Richard Magid, General Partner, SoundBoard Angel Fund.
Jim Connor, Sand Hills Angels investor added, "The education space is growing and it's starting to get serious attention! We are excited to be investors in the Tabtor platform, which delivers complete curriculums to students."
Dr. Ranjan Pai, Managing Partner of Aarin Capital Partners said, "Tabtor uses a unique tablet based delivery platform that is revolutionizing the way in which students approach and solve problems. We believe that this will be one of the prevailing learning solutions in the future".
The round raise enables Tabtor to accelerate their market entry into the consumer space and support further product development. Greater emphasis will be made on making the platform scalable and accessible to multiple partners and across multiple devices.
See Tabtor Video How Do You Typically Learn
"Tabtor supplements the bricks and mortar education system by allowing parents and part-time tutor-coaches to accelerate student learning, a great need that is unaddressed in the market," said Satish Gupta, BITS Spark Angels, an angel network of BITS Pilani Alumni that mentors and fosters entrepreneurship among BITS graduates.
The company has reached significant milestones over the past few months, including a partnership with Kadokawa Shoten, a Japanese publishing company based in Tokyo that develops manga novels, magazines, video games and movies. As part of the partnership, the team will bring gamification to tablet-based learning, offering a combined learning and gaming experience to K-12 students in India. Tabtor is built for tablet computers and is currently available on iPads, but will soon be offered on Windows 8 and Android tablets.
"Tabtor has demonstrated positive learning outcomes with several hundred students globally on the platform making learning fun and engaging," said Sundi Natarajan, Managing Director, Tabtor India. "We are looking forward to enhancing the learning experience, while reaching out to thousands of students globally with the new investment."
Tabtor, currently on iPads, is a flagship educational technology platform for all tablet computers from PrazAs Learning Inc. Designed to completely transform the way the world looks at learning, the patent pending platform provides teachers and students with a highly personalized learning experience, which focuses on the Point of Learning for each student. Currently available on iPads, and scalable to other tablet devices in the short term, It is an innovative digital offering that combines best of personalized teaching with a fun and engaging learning program that supports multiple subjects. It is tailored to every student using a combination of patent-pending Real-Paper technology that allows sharing and review of handwritten work, automatic grading, video tutorials and adaptive analytics. For additional information, visit: http://tabtor.com/