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Classified in: Business
Subjects: VEN, CXP

Lovevery Expands Early Learning Platform Beyond the Toddler Years, Raises $20 Million


BOISE, Idaho, Oct. 15, 2019 /PRNewswire-PRWeb/ -- Award-winning early learning company Lovevery announced the expansion of its science-backed product offerings with the launch today of The Block Set, and shared the corporate update that it had closed a $20M Series B round to fund both continued expansion of Lovevery's product line and the development of new digital capabilities to support parents.

THE BLOCK SET BY LOVEVERY
Building on parent and educator accolades for Lovevery's staged-based playtime products, The Play Gym and The Play Kits, the company launched The Block Set today via lovevery.com and selected retail channels at a price of $90.

"Blocks are universally recognized by educators as offering crucial lessons in physics, engineering, science, math, and open-ended imaginative play. Yet we discovered after going into families' homes that many kids aren't playing with blocks anymore! Bricks and magnetic tiles that click together have widely replaced blocks. These building toys are great for open ended play, but kids don't learn about balance and support in the same way that they can with a classic set of blocks. Blocks are the original STEM toy," said Lovevery cofounder and CEO, Jessica Rolph. "We set out to give families a more inventive, more adaptable block set because blocks have so much meaning for early childhood development. We tested this set with more than one hundred families and saw first-hand that kids of all ages love it."

Possibly the most comprehensive block set ever designed, this engaging, practical system of solid wood blocks and more than 20 stage-based activities offers years of learning through play. The ways in which these versatile pieces work with each other adapts as a child develops--building foundational skills, and helping playtime evolve with their imagination, natural interests, and emerging capabilities. There's always something fresh, fun, and new to explore for children of any age.

CORPORATE UPDATE: LOVEVERY CLOSES SERIES B FUNDING ROUND
The company recently closed $20 million of new capital in its Series B funding round to support continued playtime product R&D alongside the creation of new digital capabilities to support parents.

"We have been impressed by how Lovevery combines product obsession with its vision to improve families' lives through more meaningful play," said Jason Stoffer of Maveron, who led the Series B round. "At a time when parents and children face more distractions that keep them from connecting and learning together, families look to Lovevery for help. The result is fast growth and major customer love."

Investors in this round include Maveron, GV, Reach Capital, the Chan Zuckerberg Initiative, and Collaborative Fund. Jason Stoffer and Cat Lee of Maveron join Lovevery's board in director and observer roles, respectively. Laura Melahn of GV also joins as board observer.

"Our subscriber base has grown more than 10X in the past year, and as we have reached critical mass, the parents we serve have been asking for new ways to connect with Lovevery and with each other," said Lovevery cofounder and President Roderick Morris. "The unique blend of consumer and technology expertise our investors bring to Lovevery is well aligned with our vision of a holistic support system for parents that spans products, information, and community in a transformative way."

ABOUT LOVEVERY
Founded by Jessica Rolph and Roderick Morris, Lovevery's early learning platform for stage-based play helps parents everywhere feel confident they are giving their children the best resources they can. Lovevery's stage-based information and play products are designed by child development experts, and have won awards from TIME Magazine, Fast Company, Red Dot, and Parents' Choice. For more information, visit lovevery.com and follow on instagram.com/lovevery.

 

SOURCE Lovevery


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