With education apps crossing one billion downloads on iTunes earlier this year, the demand for quality learning content, especially content of the kid-friendly variety, is growing fast — and so is the opportunity for app publishers. Since launching in 2010, Israel-based startup, TabTale, has been on a mission to capitalize on this demand and is quietly becoming one of the App Store’s top publishers as a result.
With a suite of over 240 apps that have more than 220 million downloads between them, TabTale wants to strike while the iron is hot. The startup announced this week that it has raised $12 million in Series B financing, led by Qualcomm Ventures and Magma Venture Partners, with contributions from Vintage Investment Ventures and existing investors.
To complement its organic growth, the company revealed in a statement this week that it plans to use its new capital to grow its team and to continue establishing itself as a buyer in the children and family market. The startup acquired mobile-focused educational app publisher and “Paint Sparkles” maker, Kids Games Club, back in March.
In September, TabTale was named the eighth largest publisher by download value by App Annie in September, placing it alongside names like EA, Rovio and Disney, with a significant share of downloads powered by Design It, the company’s fashion makeover app.
Operating in a fast-growing, hyper-competitive space where the forecast is more of both (growth and increase in competition) for the foreseeable future, what TabTale has managed to accomplish in three years is impressive. It’s now raised $13.5 million to date and claims more than 20 million active monthly users and done so behind girly games like “princess party planner” and while largely flying under the radar.
And, clearly not one to miss an opportunity to provide a note of emphasis for its competitors (and startups looking for exit opportunities), TabTale said that it also recently hit profitability.
Not bad.
a milestone TabTale has since underlined by re profitability.
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