KIDO'Z, which develops kids’ operating systems for mobile devices and PCs, announced today the closing of a $1.2 million financing round.
The investment was led by lool ventures, which is backed by media giants Burda and Bertelsmann. Other investors participating in this round are Dov Moran, Aryeh Mergi, and others.
Since the launch of its mobile platform nearly a year ago, the KIDO’Z app has been installed on over 1.5 million devices, both as a full operating system on kids’ devices as well as a “kid mode” on standard devices. KIDO’Z has shown extraordinary levels of engagement and usage, with kids spending hundreds of minutes a month using KIDO’Z to play games and watch videos, the company says.
KIDO'Z ensures the content is guaranteed fun, safe, entertaining and appropriate.
In the past year, KIDO’Z has partnered with over 25 tablet manufacturers, enabling them to provide a family-friendly line of products powered with the KIDO’Z platform and parental controls. Company revenue has grown by 700% as a result.
The money raised from this financing round will be used to accelerate content partnerships and development for the new premium services to be launched later this year, as well as to expand the company’s team both on the product and business sides.
Based in Tel Aviv, the company was founded in 2009 by CEO Gai Havkin. He said, “With kids’ tablets becoming the hottest trend in consumer electronics, KIDO’Z is gearing up to provide the platform of choice for families."
Havkin added, “We are living at a time when smart devices have become our kids’ main toys. This has affected their entire playing, learning and entertainments habits. KIDO’Z is rapidly becoming the recognized platform for this new reality, both for kids and parents. lool ventures not only brings us the resources but also validates our vision that KIDO’Z should be on each and every device.”
Published by Globes [online], Israel business news - www.globes-online.com - on October 9, 2013
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