BoomWriter Media Closes $4.1 Million Round of Funding
(BOSTON, MA) January 10, 2018 — BoomWriter Media Inc. (BWM) (http://bit.ly/2AL3yMR), a collaboration tool for crowdsourcing writing content in schools and colleges, today announced that it has closed a new round of funding worth $4.1 million. The total includes a $2.6 million mezzanine round from the company’s existing investor base plus a $1.5 million convertible note. According to founder and CEO Chris Twyman, BoomWriter is using the latest investment to make its first acquisition, expand its commercial team, and fuel growth.
The acquisition is a mobile application called LookUp. The app was developed Loli Lopez-Montenegro, a native Spanish speaker who, as an MBA student, faced the challenge of learning a vast amount of new vocabulary terms and testing herself periodically. “This app fills a gap in our product strategy in 2018 and brings us Loli, who will be joining our management team to initially focus on marketing and then strategic operations,” said Twyman.
BWM has also added two new members to it commercial team. Hilary White, formerly of EPS School Specialty, will lead product/market strategy. Joining the team as the BWM Community Manager is Toby Metcalf, who recently served in the same role at PTC, an enterprise application vendor, where he led the technology and management effort to deploy the online PTC community. “Hilary’s background in education, ed tech, and publishing brings fantastic experience to keep the company ahead of the curve, and Toby will keep us there,” Twyman commented.
To keep pace with its user growth and fuel future growth, BWM has doubled its staff in the last six months. “We have significant plans in the next 24 months, not least to be the ‘go-to’ supplier of collaborative writing technology to anyone in education,” said Bendicht Hugli, a board member and investor. “This investment round brings together all the pieces needed for cementing that position that we have already established in more than 40,000 classrooms.”
BoomWriter is an educational technology product of BoomWriter Media, Inc., a leading provider of online collaborative writing solutions and a Google for Education Partner. The collaborative writing site allows students to develop and enhance their writing, reading, vocabulary, and peer-assessment skills on any device. With a presence in more than 45,000 classrooms, BoomWriter’s award-winning tools and writing platform are an ideal fit for a variety of learners in grades 2–12, and can be easily integrated into any curricula. BoomWriter also offers premium features that include standards-aligned rubrics, easy grading, and progress monitoring writing analytics. To learn more, please visit BoomWriter.com (http://bit.ly/2AL3yMR).