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HISPANIC NETWORK MAGAZINE www.hnmagazine.com
STEM
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ncantos, an award-winning Latinx-led edtech company focused on helping kids learn 21st century skills through digital and physical play, announced it has raised $5.7 million from a group of renowned investors. Encantos closed a $3.2 million series round led by Precursor Ventures with participation from Angeles Ventures, Concrete Rose Capital, Metrodora Ventures, Next Play Ventures, Portfolia's Rising America Fund, and Revolution's Rise of the Rest Seed Fund. Among the additional investors are New American Funding President Patty Arvielo and former Zillow CEO and Co-Founder Spencer Rascoff, as well as early investors including Human Ventures, Kapor Capital, and MathCapital. The series round is the result of broad demand following an earlier note financing of $2.5 million, which included existing and new investors, such as NBA All-Star and serial entrepreneur Baron Davis, private equity executive and Morales Capital CEO Angel Morales, and international business executive and new Encantos Chairman Sol Trujillo. The new round of financing brings the companys total funding to $8.5 million and will help Encantos accelerate its subscription services that deliver entertaining and engaging digital and physical learning products for pre-school and primary school-age children. Precursor Ventures partner Charles Hudson has joined the Encantos board of directors in connection with the financing. The company also announced the addition of two key executives: Julie Fleischer, an award-winning data- driven marketing leader with over 20 years of experience across customer acquisition, retention, insights, media, and marketing, has been named Chief Growth Officer of Encantos. In this new role, Fleischer will lead all of Encantos commercial and marketing teams overseeing revenue, customer acquisition, retention and loyalty, and marketing to position the company for its next phase of accelerated growth. Taylor Margis-Noguera, a seasoned start-up founder and executive with over 20 years of experience leading cross-functional teams to drive scale, has been named Chief Operating Officer of Encantos. In this new role, Noguera will lead all of Encantos strategy, operations, finance, and legal functions. I am pleased to welcome our new investors to the Encantos family and I am thrilled to have Julie and Taylor join our executive team, said Steven Wolfe Pereira, Encantos CEO. There has never been a greater need for teaching kids 21st century skills. While COVID-19 has only accelerated educations digital transformation,
Encantos Raises $5.7 Million, Adds Key Executives
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