LendMeYourLiteracy achieves £175k in first funding round
01 Oct 2014
Following successful presentations at the e100 and YPO events earlier this year, LMYL welcomes a team of experienced and knowledgeable investors on board, including many LBS community members.
LMYL addresses the serious problem many countries face of declining literacy standards. LMYL’s safe, online, education platform allows for children's writing to be uploaded for free and shared with a global audience to receive comments, feedback and encouragement. This audience of teachers, parents and pupils, provides the child with a purpose for their writing, motivating them to write more, thereby raising literacy standards. It also gives the child the excitement of becoming a published author in a worldwide community.
LMYL has already created over 13,000 published child authors, providing them with over 2,000,000 views on their writing from 191 countries.
“2014 has been an incredible year for LMYL” says LMYL’s CEO and current MBA student Jon Smith. “In 9 months the team has grown from 4 to 13 employees, and we break internal records every single month in terms of new user numbers, impact in the classroom and sales. The support received from the LBS community to help nurture the venture has been critical to our success.”
Alongside its continuous growth in UK schools, LMYL has just established its first international office in the UAE and recently received the Lloyds Enterprise Award for Best Digital Enterprise for London and the South East.