The size of the deal was not disclosed. Other participants in the round were individual and corporate angel investors.
Future Now Ventures founder and CEO John Orrock told DEALSTREETASIA that Ritmo has a meaningful impact on education and childhood development across many segments.
“[Ritmo] is an innovative learning platform that has substantial market potential,” Orrock said. “It has the potential to expand on its offerings local and global, creating a standard in digital visual learning.”
The startup was founded in 2013 under the Launch Garage program with Kickstart Ventures Inc as its first investor.
Ritmo is the creator of Joomajam, a social enterprise focused on Early Child Development. The Joomajam app serves as a teaching tool that provides culturally-relevant and bilingual content for pre-school to Grade 3 kids. It uses a collection of songs, sing-along videos, lesson guides and a library of activities that parents, teachers and kids can altogether create and play.
Ritmo co-founder and CEO Vin Dancel said they will use the funds to grow the team, increase user engagement, and create new content.
“It’s an exciting time for Joomajam to be part of the Future Now Ventures stable of startups. We look forward to building solutions that would help connect parents and kids through technology, music, creativity and play, make learning more fun and engaging across social classes, and to help raise lifelong learners,” Dancel said.
Dancel said the company has gained some significant number of users and is now working with the BPI Foundation for a Financial Literacy campaign.
“On the social mission side, for our CSR, we’re excited to work with the Department of Education and other education partners like The Ronald McDonald House Charities, the Vice Mayor’s Office of Quezon City, Nest School For Wholechild Development and the Learning Library in helping train day care specialists and teachers in raising lifelong learners in public schools,” Dancel said, noting more local government units or LGU partnerships will soon follow.
He said they are working on a parent dashboard and a reading app that will make bonding more fun and engaging for kids and parents.
“Every opportunity to bond is an opportunity to learn,” Dancel said. “We’re about to embark on expanding Joomajam. We are building a parent platform where parents can keep track of the knowledge and skills that the kids are acquiring as they play with the Joomajam apps. It’s Joomajam Time!”