Shoelace’s Seed Round Has $3M First Close

Halifax edtech company Shoelace Learning, which specializes in the gamification of learning, has announced the $3 million first close of its seed round, which it hopes will soon reach $4.5 million.The company plans to use the money to add three more educational games to its platform and attract 10 million new users over the next 24 months.The round was led by first-time investor Sandpiper Ventures, the Atlantic Canadian VC fund in which female investors back female founders. The other new investors in ShoeLace are: Vancouver-based Telus Pollinator Fund for Good; San Francisco-based Reaction; Silicon Valley-based Samsung Next; and The51, a Calgary-based group that supports female entrepreneurs. The round included returning investors Concrete Ventures of Halifax, and Enjoy the Work, a San Francisco group that advises startup founders, often backing their ventures.Shoelace is the epitome of a purpose-driven company that presents a tremendous opportunity with its solution to modern learning needs, said Sandpiper Co-founder and Managing Partner Rhiannon Davies in a statement. The goal is to secure a Series A round in the future but she acknowledged the environment for raising capital is getting more challenging.Rivard noted that members of the investor group should help the company increase its growth attract users. The Telus fund backs social ventures, and Reaction is backed by 200 Stanford University Alumni with the aim to help 1 billion people.The51 is making its investment through Innovate Calgary, and will work with Shoelace in conducting all-important efficacy studies at the University of Calgary, which will help to validate the product with educators.Shoelace Learning is one of the companies at the forefront of leveraging technology to enhance learning, improving access to better reading and literacy outcomes, said Pollinator Fund Managing Partner Blair Miller.