Microsoft's venture fund M12 has invested in the kid tech startup SuperAwesome. The investment adds an additional $17 million in funding. Others participating in the round include existing investors Mayfair Equity, Hoxton Ventures and Ibis, along with other angel investors.
"Making the internet safer for kids is a sector-agnostic mission," wrote Dylan Collins, CEO at SuperAwesome. "As increasing numbers of companies outside of the core kids sector realize that children cannot be ignored, we’ve begun to shift our horizons to the wider internet."
Collins wrote that in his first meeting with M12 it was clear that the two companies shared the same perspective and values on both privacy and responsibility in terms of design for children.
A blurb on the company's website explains how the company built
an infrastructure to enable the zero-data Internet.
"As major technology companies begin to embrace kids and their privacy through kidtech, we’re proud to lead the way with Microsoft and M12," Collins wrote. "It’s also a timely opportunity to shout out some of our other great investors who have provided such unwavering support along the way including Hoxton Ventures, Mayfair, Harbert, Ibis and our angels."
Collins says the company closely follows privacy regulations, which has made the company profitable, reports one media outlet. SuperAwesome powers "more than 12 billion kids’ digital transactions per month. Last year, the company pulled in $55 million in revenue and is on track for $80 to $90 million in revenue in 2020," Collins told TechCrunch.