The “web-based clicker and online homework tool,” Top Hat Monocle has gained $1.1 million in cash after a recent funding round was concluded. The latest cash investment is not as big compared to the $8 million the Toronto based company managed to pull during last year’s Series A round, but the startup still considered it a significant achievement for Top Hat Monocle. Explaining why the firm though the $1.1 million was so vital, the Canadian company told TechCrunch that Top Hat Monocle “has been generating solid revenue and doesn’t need the money.” However, the chief operating officer of Top Hat Monocle, Andrew D’Souza, was very much interested in working with Felicis Ventures because its backs iconic companies around the globe and the $1.1 million from the VC firm was a vote of confidence.
The founder of Felicis Ventures, Aydin Senkut told TechCrunch that, “We discovered Top Hat around the time they closed their Series A. They liked our expertise and passion but didn’t need the money and we didn’t want to wait until the next round, especially when they were growing so quickly so we figured out a way to make it work.”
Top Hat Monocle basically turns students’ laptops and mobile phones into an in-class learning tool and it has received an excellent response, which can be judged from the fact that they are currently working with roughly 300 schools. It was because of this amazing response Top Hat Monocle had to increase the strength of its employees from 20 to 70 within a year.
Source: TechVibes
Microsoft Considering Buying Into Dell Deal
Wal-Mart will make RIM’s BB10 Devices Available for Sale in Canadian Stores
Lunches So Good Kids Can’t Ignore Them
Invigorating Ginger Smoothie
The U.K.’s Youngest Parents Ever
The new hair Jennifer Lawrence