$12 million raised for educational app studio TabTale
Qualcomm and Magma lead series B round for Israeli start-up
Israeli app developer TabTale, which in September became the eighth largest app developer by revenue according to App Annie, has raised $12 million in a series B funding round fronted by Qualcomm and Magma Venture Partners. Vintage Investment Ventures and some existing investors also contributed.
By focusing on the children's educational market, TabTale has reaped the rewards of increased youth engagement with mobile an tablet devices whilst avoiding the current travails of free-to-play games aimed at kids. A catalogue of 240 apps has been built by the company in just three years since its founding, culminating in a total of 220 million downloads.
The company recently turned profitable and plans to add to its expansion with more organic growth, hires and acquisitions, complimenting the acquisition of Kids Games Club earlier this year.