RevRoad portfolio companies raise and oversubscribe Series A rounds amidst COVID-19
PROVO, Utah — Hallo and Literal, both ed tech companies that have created iOS and Android based apps as their main product offering, have secured additional funding to expand marketing opportunities and fund additional hires to fuel growth.
Hallo raised $1.4M to complete the round late July 2020. Literal set out to raise $600,000 but oversubscribed and raised a total of $1.1M. The round was led significantly by Kickstart Fund—a Utah based venture capital fund, RevRoad—a Utah based venture services firm, and private investors.
“I am so grateful for all the support I’ve received as Literal has taken off,” said Michael Romrell, Literal Founder and CEO. “Statistics show that it’s hard for startup founders to get funding during economic turmoil such as a pandemic, and I am encouraged by the overwhelming interest we’ve received to help bolster reading across the globe.”
As many companies were shutting doors and sending employees home to work, these two startups were meeting with investors.
“Few things are as significant as what the teams at Hallo and Literal are focused on,” said Bart Skalla, cofounder and CFO at RevRoad. “Hallo and Literal are making a difference for families worldwide by harnessing technology to both improve the quality and accessibility of reading and learning English. We have been so impressed with the Literal and Hallo teams, their products, and the tremendous traction they’ve each generated so quickly. They are very talented, working on significant challenges, and we are proud to work with them to raise capital for scaling.”
Jooh Beh, CEO of Hallo added, “We are glad others see the vision in what we are trying to achieve in economies much more depressed than ours. There has never been a time when Hallo services are needed more.”
RevRoad is proud to support and acknowledge the achievements of these fantastic companies.
About
Literal
Literal keeps students fully engaged in reading, even while at home. Literal makes books just as engaging as social media, and is adding new titles to their collection constantly. Easily track student progress remotely and turn reluctant readers into avid book worms.
Literal is a free app available for iOS and Android.
Hallo
Hallo is where you become fluent! Hallo is a live streaming community for English learners and teachers. Students can learn from native speakers through live videos 24/7 and practice speaking in seconds with people all around the world. It’s the world’s largest classroom for English learners right in the palm of your hand.
Hallo is a free app available for iOS and Android.
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For media inquiries, interviews or additional information, please contact Communications Specialist Bri Ray at bri.ray@revroad.com or by calling 888-920-7623
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