Lehi, UT – March 4, 2019 – Emmersion Learning announced today that it has closed $2.4 million in equity funding led by Imagen Capital Partners, a Seattle-based venture capital firm. Additional major existing investors also participated.
The new financing will support Emmersion’s plan to expand its existing language learning platform and to explore new offerings that cater to the academic and corporate markets. Emmersion also plans to use the funding to accelerate R&D hiring.
“This round of funding will help immensely in accelerating our mission,” shared Joe Tomco, CEO and co-founder of Emmersion Learning. “The industry has been anxiously awaiting a reliable automated language assessment platform. The support from Imagen will allow us to scale to a full suite of automated and adaptive language assessments to be used worldwide.”
Emmersion became pioneers in the industry of reliable language assessment technology with the release of its newest product, the TrueNorth Test, in June 2017. This fully-automated speaking test allows users to get immediate results from their speaking assessments through the use of machine learning and artificial intelligence. Emmersion has since experienced dramatic growth with its Spanish and English assessments, which have been taken by several Fortune 500 companies and numerous major universities in over 30 countries worldwide. Ten additional languages including Japanese, French, German, Italian, Russian, Chinese, and Arabic are set to release soon.
“Emmersion has developed a unique and innovative solution, which is well positioned to be a driving force in global language learning assessments,” said Chris Barrow, Imagen Capital Partners Managing Director. “We look forward to working more closely with the management team as they continue to build a dynamic and scalable platform to address this demand throughout the growing EdTech industry.”
About Imagen Capital Partners
Imagen Capital Partners is a Seattle-based, seed and early-stage venture firm focused on investments in software/SaaS, data and technology-enabled concerns. Led by former technology operators, the firm seeks to create collaborative relationships with entrepreneurs beyond the investment process to innovate, challenge, and transform the dynamics of new and existing markets. Learn more at imagencap.com.