Explain Everything secures $3.7 million in a Series A2 funding
Explain Everything, Inc., has secured $3.7 million in a Series A2 funding round led by the London-based EBRD Venture Capital Investment Programme to meet demands in K-20 education and in enterprise training and sales for its interactive screencasting and collaborative whiteboard mobile platform. Previous investors Credo Ventures (Prague), New Europe Ventures (NY), and RTAventures (Warsaw) also participated in the round.
Explain Everything™ enables users — teachers, students, corporate trainers and sales professionals — to make the most out of their mobile devices while augmenting and supporting traditional interactions through whiteboarding, screencasting, real-time collaboration, template design and sharing, and much more. Already a leading provider in the K-12 education market, in the 1.5 years since the previous funding round the company has seen tremendous demand and growth in higher education, corporate universities, and mobile-device enabled field sales forces.
“There hasn’t been a really good software solution that combines, and sits between, well-rounded presentations and back-of-the-napkin brainstorm sessions,” says Bartosz Gonczarek, Explain Everything CEO. “There has been a shift towards using tablets in enterprise, allowing its leaders and workforce to reimagine communication processes in more visual ways. Explain Everything continues to support teachers and learners in education and with already-established credibility there, it is a perfect candidate to contribute to communication, collaboration, and learning in business. This new round of financing is led by investors who share our vision.”
The EBRD Venture Capital Investment Programme is a dedicated €100 million capital pool and team investing early and growth stage venture capital in innovative, high-growth technology companies from Central Europe to Central Asia. It focuses on providing active leadership in the development of technology and venture financing ecosystems in the countries of operation.
About Explain Everything
Co-founded by Bartosz Gonczarek, Piotr Sliwinski, and Reshan Richards, Explain Everything company consists of 50 talented people based in New York, NY and Wroclaw, Poland. Explain Everything™ combines a powerful animation engine, robust design tools, and state-of-the-art real-time collaborative whiteboarding on operating system-specific native applications.
Source: Explain Everything Press Release