Evidently rumors of the venture economy’s demise have been greatly exaggerated. At the beginning of the month New York-based serious game entrepreneur Nt Etuk announced he had raised a Series B round of $6M for Tabula Digita, the educational game company he founded four years ago. Here’s the lead of the press release:
New York, Aug. 1, 2008 – Tabula Digita,Inc., an educational gaming company delivering pre-algebra and algebra software programs to K-12 schools and consumers, announced that it recently closed its Series B funding led by Ascend Venture Group, LLC.
“Tabula Digita’s educational video games have been embraced by some of the most respected thought-leaders in K-12 education,” said Ntiedo Etuk, chief executive officer of Tabula Digita. “This tremendous acceptance, coupled with positive reviews from all corners of the market, has been both flattering and suggests that we will be successful in transforming the way children learn and their level of engagement.”
Nt and his founding partner Rob Clegg were early entrants, making serious games for K-12 against skepticism and long odds to pioneer the market. With that back story in mind, this new round of funding is even sweeter and comes with our wishes for continued success.