Digital kids platform SuperAwesome plans to launch a dedicated kids AVOD service and raises $13M in growth financing
NEW YORK (13/2/2019) SuperAwesome, whose technology powers much of the digital content children interact with on tablets and other devices has closed a financing round of $13M led by Harbert European Growth Capital.
SuperAwesome’s ‘kidtech’ infrastructure is used by top kids companies such as Mattel, Disney, Hasbro and LEGO to enable kid-safe content, advertising and other digital services. Synonymous with safety and privacy, the company has defined the digital standards which now keep over half a billion children anonymous when they engage with online games and videos. The company is backed by leading technology investors including Mayfair Equity Partners and Hoxton Ventures.
Ranked as one of the fastest growing technology companies in Europe, SuperAwesome increased revenue by over 75% in 2018, reaching a revenue run-rate of almost $60M. The company’s growth has been driven by several factors;
- SuperAwesome’s Popjam platform has become the community management tool of choice for young influencers and brands interacting with their under-13 audience on YouTube
- The rapid decline of kids TV is shifting vast amounts of digital dollars into the kids audience which now requires specific privacy-based technology (compliant with COPPA and GDPR-K) to deliver
- Growing focus on children’s digital privacy: new laws are mandating specific zero-data ‘kidtech’ to ensure children are kept anonymous with all digital interactions. AOL/Oath was recently fined $5M for illegally capturing personal data on an under-13 audience
SuperAwesome also disclosed growing levels of profitability, significantly beating their targets.
Dylan Collins, SuperAwesome CEO stated: “The company’s debt offering was significantly oversubscribed, which is a testament to our growth and robust unit economics. We’re delighted to welcome Harbert European Growth Capital as a partner”. He continued, “in the light of the continuing controversies around Big Tech capturing personal data on children, it’s never been more important to have infrastructure which can enable safe, anonymous digital engagement for children online. We are seeing an overwhelming response by responsible companies everywhere for this”
“We are thrilled to be able to support SuperAwesome’s growth plans as part of this capital raise,” said, Johan Kampe, Senior Managing Director at Harbert European Growth Capital.
SuperAwesome also revealed plans to launch a dedicated kids AVOD service, offering completely free streaming content to children. Collins commented “as the infrastructure behind the kids digital media ecosystem, including the largest kid-safe ad delivery platform, we are in a unique position to enable an AVOD service built specifically for the privacy and safety needs of the industry. In particular, there is a huge requirement for a dedicated platform focused on the needs of family YouTubers and influencers who have very large under-13 audiences but simply can’t be serviced by YouTube because of its design as an adult platform’.
About Harbert European Growth Capital
Harbert European Growth Capital (HEGC) is a London based debt fund investing in high growth UK and Pan European companies across the Technology and Life Science sectors. The team has a 15+ year track record of providing entrepreneurs and shareholders with long term, less dilutive and non-restrictive capital to fund various situations including growth capital, acquisitions, pre-IPO or fund raise bridge, and various forms of recapitalisation. HEGC has the ability to support businesses with follow-on reserves and a global network of commercial and investor relationships.