Kidtech startup SuperAwesome has raised an extra $17 million in funding, which features a new strategic investment from Microsoft’s venture fund, M12. Others taking part within the spherical embrace present traders, Mayfair Equity, Hoxton Ventures, and Ibis, alongside with different angels.
To date, SuperAwesome has raised $37 million in outdoors investment.
SuperAwesome has been tapping into the necessity for extra kid-friendly know-how on the internet that’s now used simply as a lot by youthful kids as it’s by adults.
“Historically the internet was designed to be used by adults but now over 40% of new users are kids,” mentioned SuperAwesome CEO Dylan Collins. “We’re in the middle of a structural shift in the composition of the internet that requires investment in privacy and kidtech to support children. This is as big a transition as mobile was for the desktop internet,” he famous.
The firm’s platform consists of merchandise for kid-safe promoting, social engagement instruments, authentication, and parental controls. The breadth of this lineup has attracted big-name children’ manufacturers as clients, together with Activision, Hasbro, Mattel, LEGO, Cartoon Network, Spin Master, Nintendo, Bandai, WB, Shopkins maker Moose Toys, WPP, Omnicom, Dentsu, Niantic, Wildworks, amongst others.
Today, the corporate has over 300 clients in whole.
SuperAwesome’s know-how has arrived at a essential time for a lot of working within the children’ app house, as governments are newly enacting and implementing a variety of children’ privateness legal guidelines like COPPA (the U.S. Children’s Online Privacy Protection Rule) and GDPR-K within the E.U., in addition to different legal guidelines in main markets like China, Brazil, and India. In the U.S., for instance, the FTC has slapped apps like Musical.ly (now TikTookay) and YouTube with file fines for violations of youngsters’s privateness rules.
These modifications have been a boon to SuperAwesome, which is now totally worthwhile and powering over 12 billion children digital transactions per 30 days. Last 12 months, the corporate pulled in $55 million in income and is on observe for $80 to $90 million in income in 2020, Collins instructed TechCrunch.
SuperAwesome and Microsoft aren’t but speaking intimately about how the 2 corporations will likely be teaming up, following the strategic investment. One factor being mentioned by the 2, nevertheless, are the alternatives round household id, we’re instructed. In addition, Microsoft as we speak is targeted on each privateness and youngsters throughout its merchandise — for instance, with its net browser in addition to with its academic efforts involving Minecraft, amongst different issues.
“After we spent time with the M12 team and folks in Microsoft, it was clear we shared the same vision of where the internet is going: more kids and more privacy,” Collins mentioned.
“We are proud to welcome the SuperAwesome team to the M12 portfolio. Dylan has cultivated a mission-driven team dedicated to keeping the internet safer for kids—a critical priority for digital-first generations,” mentioned Nagraj Kashyap, Microsoft Corporate Vice President and Global Head of M12, in a press release concerning the funding. “Given Microsoft’s footprint in the identity management space, we’re excited to explore opportunities for partnership with SuperAwesome as well,” Kashyap added.