Hopster, a preschool education and entertainment digital platform, has announced the completion of a substantial equity investment round, led by Sandbox and Venture Founders. Following the transaction, Sandbox will now hold a majority stake in the business.
Financial details of the funding round were not disclosed.
Hopster said it has plans “to accelerate its strategic partnerships with global distribution companies in both the telco and pay-TV spaces whilst investing in its future acquisitions and original content”. It noted the funding will also go towards “updating its product development to enrich its customer experience whilst supporting its UK operations to support growth in the new year and beyond”.
SHopster joins the growing Sandbox portfolio of digital learning products and services already reaching in excess of 60 million Millennial families and Kids. The Sandbox family of award-winning properties include CoolMathGames, Poptropica, Tinybop, Curious World, Family Education, Teacher Vision, Super Awesome, Fact Monster, InfoPlease, and Funbrain.
Hopster founder, CEO Nick Walters, said: “2019 has been an important year in terms of global growth and with the investment by Sandbox we plan to continue and build on our successes. We have a long and established relationship with Sandbox who understands and supports our vision, our goals, and our values as an educational, ethical and ambitious company. We have a number of exciting deals with high profile partners already in place for 2020 to announce and launch – so we are in a strong position and confident and excited for the future.”
Sandbox founder, CEO Bhav Singh, added: “We’ve watched Hopster grow from an idea to a market-leading service over the last few years and it was only natural that we continue to support the company to expand on this strong base and foundation as the leading digital pre-K service and welcome them to the Sandbox family of properties.”
Singh will take on the role of Hopster chairman following this funding round.