$350,000 Seed Round of Funding Enables Market Launch
SAN DIEGO–(BUSINESS WIRE)–November 7, 2013–
Mobile Learning Networks, Inc. – a private tutoring service company revolutionizing the industry by providing a virtual, one-to-one experience between student and tutor via an iPad application – announced it has completed a $350,000 seed round of private funding.
“Private tutoring and test preparation is a large and growing market, with $60 billion spent globally,” said President Andrew Meyer, who has over 20 years of senior management experience growing software and companies, including Websense, Inc., Epicor Software, Worksoft, MSC Software and Sales Technologies.
“The market is driven by parental concerns about their children’s academic success, college admission and job prospects – combined with the lack of resources within the school systems and government-mandated benchmarks created by No Child Left Behind and Common Core,” Meyer continued.
Connected to a powerful cloud service, MLN’s iPad app allows students and tutors to collaborate virtually through tablets, providing an advanced whiteboard experience, with full audio communication, handwriting/touch input and advanced graphics. Sessions are recorded and can be bookmarked, for easy lesson playback.
“Our product’s biggest strength is its convenience factor,” said CTO and Founder Josh Roach, who was previously senior vice president of engineering and product management at Mitek Systems, where he spearheaded the development of mobile products for the banking industry, including the “Mobile Deposit” application for smart phones. “By replicating an in-person lesson with a highly interactive application, our product solves one of the major downsides to tutoring – the time wasted on commuting.”
The company has developed an exclusive, high-quality marketplace of tutors, delivering their lessons via the application. The marketplace provides a single source for parents and students to find tutors whose services are available virtually via the iPad.
MLN is generating revenue from paying customers, and will make the app widely available in December via the App Store. The service is currently available through invitation only beta.
Mobile Learning Networks, Inc.
Founded in 2012, Mobile Learning Networks, Inc. delivers a unique, interactive form of private tutoring – delivered virtually. Combining the best technology and tutoring resources, MLN brings the highest quality tutors from all over the nation virtually into customers’ homes, creating a vast community of parents, teachers and students. For more information, visit www.mobilelearningnetworks.com.
J. Walcher Communications
Jenna Brossman, 619-295-7140