Pretty neat how this actually works without giving us a headache…
Finally coming out of stealth this week, Boston based speed-reading technology company Spritz has raised a $3.5M Seed round. Check out the technology behind the faster reading tool here. They plan to license their technology to app and web developers, which should be a good way to test new channels indirectly and inexpensively (free downstream R&D!).
Given that Spritz has the ability to disrupt so many MASSIVE markets (Email, Education, Business, etc.), we wonder if they are only using the licensing model initially for feedback loops to find product-market fit and then will pivot to a more vertical approach? Either way, it will be fun to read about what happens (hopefully much faster than average!)
Funding to Date: $3.5M Seed
Deal Notables: This was a tranched deal ($1M, $2.5M). When we see tranches, we see it as our duty to at least guess what the terms of it were…
C:V.’s guess: Initial funding went for development and since they are all about User adoption, we think they hit their User growth goal which triggered the final piece. Simple. Actionable. Desirable for all.