eSpark has succeed in receiving Series round of funding from a number of investors including MK Capital, Learn Capital and New Schools Venture Funds. Based in Chicago, the company is involved in developing educational software for students with the use of iPads. The deal was finalized for more than $5.7 million in equity financing. eSpark helps students learn the fundamentals with a joy of games and learning also.
The funds will be used for increasing its staff, which stands currently at 12 and as well as improving its user interface. Furthur, eSpark has announced Luke Shepard, a veteran from Facebook as their new CTO. With his expertise in technology, eSpark too wants to capture the market using mobiles. As of now, the web content is mostly used in iPad, as it is suitable for it. Later it wants to expand to podcasts and mobiles or anything that works out well for students in the classroom.
In a recent interview David Vinca quotes, “eSpark enables innovative schools to use iPads to raise student achievement by providing individualized instruction to every student. Our results to date have been highly rewarding and our customers are our greatest advocates.” eSpark helps students with their learning using the iPad apps and using the data- driven assessments for their personal curriculum
MK Capital has created its peak a VC firm offering investments to educational, digital media companies at different stages. After financing is done the MK Capital plays a pivotal role in the process of growth of companies, right from the planning and operations till there is a significant leverage seen in the company being funded by them.