Beereaders, a company that empowers Spanish-speaking students to achieve their maximum potential by improving their Spanish literacy skills, announced the closing of its $3.5M Series Seed financing. The financing was led by Boston-based VC firm Reinventure Capital and Acumen Latam Impact Ventures (ALIVE), with participation from EWA Capital, University Venture Fund, and Wisconsin Investment Partners, among others.
Beereaders provides an evidence-based Spanish literacy improvement solution applicable to most Spanish-speaking K-12 students across Latin American countries and the US, who are severely affected by a literacy skills gap within their school.
Led by founder and CEO Ruben Arias, Beereaders’ solution uniquely integrates personalized reading and writing learning experiences, a vast collection of authentic and tailored Spanish content, and a stimulating game-like environment to accelerate reading literacy. For educators, it also includes proprietary analytical tools to monitor their students' progress over time and access to Beereaders Academy, a comprehensive library of professional development materials. Completing the solution is its Family App which seamlessly integrates parental participation in their children’s learning process.
CEO Ruben Arias notes, "We are thrilled to have the support of top-tier investors who share our vision to lead the transformation of education in the Spanish-speaking world. We currently serve nearly 250,000 students from 500 schools throughout Latin America and the US. With this funding, we will reach at least half a million students, their families, and educators and provide them with the tools and resources they need to achieve their maximum potential in the next two years."
“Reinventure’s team is proud that BeeReaders is assuming a leadership role in generating intentional and meaningful impact to help close rapidly growing socioeconomic disparities in literacy skills experienced by far too many Spanish-speaking students. Led by top VC and pioneer impact investor Ed Dugger, our team is pleased to have led this round of funding to accelerate BeerReaders’ high impact, high-value commercial solution,” said Shijiro Ochirbat, Principal at Reinventure Capital, and a member of BeeReader’s board of directors.
Virgilio Barco, Managing Partner of ALIVE, who will be joining BeeReaders’ board of directors, added, “We are very excited about this new investment in BeeReaders, as we deeply believe in the impact the company can have in closing the literacy gap among Spanish-speaking K-12 students by giving them the tools and skills they need to succeed, not only in Spanish but also in other subjects, and eventually throughout their professional life.”
BeeReaders was founded in 2020 by Ruben Arias and Luis Gringras, with customers in Chile and Peru simultaneously. Today, the company is headquartered in Austin, Texas, and has offices in Santiago, Chile, Lima, Perú, and Mexico City. The company received previous investments from notable education, technology, and social impact organizations such as New Schools Ventures, AT&T, gener8tor, The Learning Agency’s Tools Competition (backed by Bill & Melinda Gates Foundation, Walton Family Foundation, and Schmidt Futures) Jean-Eric Salata, and Black Ambition, the social impact initiative led by Pharrell Williams.
For more information on BeeReaders, visit their website at www.beereaders.com, or contact Ruben Arias, Chief Executive Officer & Co-Founder, at email@example.com.