Edsoma, a startup that developed an AI-powered reading, education and communication platform for children, has raised $2.5 million in a seed round led by NBA legend and philanthropist Shaquille O’Neal. The investment marks O’Neal’s first foray into the EdTech sector, demonstrating his passion for helping children and belief in Edsoma’s potential. The round also saw participation from over a dozen individual investors, including family and friends of Wallgren.
Founded by Kyle Wallgren, Edsoma is available on both the Google Play store and Apple App Store, offering a free version with limited features and a premium version priced at $9.99 per month or $99.99 per year. The premium version provides unlimited books, group video calling, and peer reading sessions and allows for multiple users. The firm has witnessed rapid growth since its inception. Starting with only 300 paid users, the platform swiftly grew to 1,000 users within the first month and 9,000 users by the second month. This quick expansion illustrates the platform’s usefulness and attraction.
With Edsoma, children can explore a vast digital library of age-appropriate content, including books, articles, and interactive exercises. The platform intelligently adapts to each child’s learning pace and preferences, providing tailored recommendations and personalized challenges. Along with its educational features, the startup facilitates communication between children, teachers, and parents, fostering collaboration and engagement.
Speaking on the fundraising, Founder & CEO of Edsoma, Kyle Wallgren, said:
We can surpass our competitors this year and emerge as leaders in the EdTech space by next year. Shaquille O’Neal’s investment further propels Edsoma towards achieving its ambitious goals, demonstrating the trust and support the NBA superstar has placed in the platform’s ability to impact education.
According to a report, O’Neal expressed his desire to help Edsoma raise awareness and reach a bigger audience rather than asking for money. Edsoma’s founder and CEO, Kyle Wallgren, highlighted O’Neal’s influence and commitment to make a positive difference in the lives of children.
With its innovative reading assistant app, Edsoma aims to revolutionize learning and communication for children and individuals of all ages. The startup’s impressive growth and plans for future expansion demonstrate its commitment to becoming a leading player in the EdTech industry. As it continues to evolve and gain traction, the company has the potential to transform the way we approach literacy education and empower learners worldwide.
Edsoma is prepared for significant development and expansion with this finance. The additional capital will allow the company to develop its AI-powered platform further, expanding its content library and enhancing its capabilities. Edsoma plans to invest in cutting-edge AI technologies, ensuring its platform remains at the forefront of educational innovation. It also intends to partner with schools, educators, and parents to achieve widespread adoption of its platform.