Lost My Name raises $8.5m in Series B, changes name to Wonderbly
The London-headquartered start-up will use the funds to accelerate new product development and target international growth
Lost My Name, the technology and storytelling start-up, has raised $8.5m in Series B funding in a round led by Ravensburger – and has also re-branded and changed its name to Wonderbly.
Launched in 2013, London-headquartered Wonderbly uses an algorithm to create personalised children’s books by matching their name and gender to the story.
The 2014 Startups Award finalist‘s first book The Little Boy/Girl Who Lost His/Her Name is said to have sold 2.7 million copies worldwide, and is available in 10 languages – becoming a best seller in USA, UK, Germany and Canada.
As part of the re-brand, Wonderbly said it will keep “pushing the boundaries of personalised and personal publishing with own content and selected partners.”
In April, Wonderbly announced a joint-IP project with the Roald Dahl Estate, will see young readers able to “visit” Willy Wonka’s Chocolate Factory via a personalised book.
Ravensburger joined previous investors Google Ventures, Project A, Greycroft, The Chernin Group, and Allen & C – all of whom backed Lost My Name in their previous funding round.
Additionally, the company has secured a venture debt facility from Silicon Valley Bank.
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“We’re building new kind of personal media and publishing company that empowers customers to create stories and products that bring them closer to the people they love.
“We have a growing body of evidence for the positive impact of our products on children’s imagination and self esteem and we’re incredibly excited to keep creating personalised stories that inspire, nurture and empower children the world over.
“We’re particularly thrilled to bring Ravensburger on board. Our investment mantra has always been added value over capital and Ravensburger brings with them over 100 years of operational experience shipping quality products that bring children and adults closer together.”
Florian Heinemann, partner at Project A, said:
“My four children, my wife, and I are fans of Wonderbly’s books. Together, we really enjoy to dive into their magical adventures.
“As a VC, we continue to be impressed with Wonderbly’s capability to scale personalisation through technology. Therefore, we’re happy to participate also in the current investment round.”