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Woburn,
Mass.-based 8D World Raises $5.25M Series B
Shanghai, China/Woburn, Massachusetts, USA, December, 2010-8D World, the creator of Wiz World Online, announced today that Mizuho Capital of Japan had joined existing investors Spark Capital and Gobi Partners in the company's $5.25 million Series B round of financing.
Since the release of Wiz World Online, the world's first immersive virtual world designed for English-as-a-foreign/second-language (EFL/ESL) learners, 8D World has significantly expanded its product suite and distribution network. A growing number of curriculums such as Wiz Kid English, Rocket English, and Cambridge English for Young Learners have been incorporated into Wiz World Online. Prominent organizations such as CCTV and ONLY Education as well as hundreds of public and private schools in China have partnered with 8D World.
"We are very excited to have the opportunity to invest in 8D World," said Akira Sakai, Executive Officer of Mizuho Capital. "8D World has already established partnerships outside China. With its innovative English education platform and scalable business model, we look forward to helping 8D World expand into many markets in Asia."
"With the new funding, we will continue to extend our product leadership by incorporating a wide range of educational content onto the Wiz World Online platform and at the same time, aggressively grow the distribution network to bring more English learners to the 8D World family," said Alex Wang, CEO of 8D World.
"We are very happy to have Mizuho Capital join us as investors in 8D World," said Alex Finkelstein, General Partner at Spark Capital. "We firmly believe Mizuho Capital will be able to bring value to the company with its wide network of relationships in Japan and beyond."
"We have been very pleased with our investment in 8D World as the company has hit all of its milestones," added Lawrence Tse, General Partner at Gobi Partners. "We look forward to their continued growth in China and beyond."
About 8D World
8D World is the creator of Wiz World Online, the world's first virtual world dedicated for global English-as-a-foreign-language (EFL) learners to improve their spoken English in a highly motivating environment. 8D World's team includes top English educators, award winning speech technology experts and world renowned multiplayer game designers. 8D World's management team has proven track records of successfully starting and growing global multimedia and software companies. 8D World is headquartered in Woburn, Massachusetts, USA and has its Asia head office in Shanghai, China. To learn more, visit www.8dworld.com.
About Mizuho Capital
The Mizuho Financial Group is one of the largest financial institutions in the world, offering a broad range of financial services through its group companies. The group has over 57,000 staff working in approximately 950 offices inside and outside Japan, and total assets of over $1.6 trillion (as of March 2010).
Mizuho Capital, as a major Mizuho group firm, invests in 663 companies with a total amount of JPY 33.8 billion. The number of Mizuho Capital-backed IPOs reached 758 companies as of March 2010. Mizuho Capital will continue to support prominent entrepreneurs and prospective companies by making the most of our rich experience and Mizuho Financial Group's total financial competence. For more information, please visit www.mizuho-vc.co.jp.
About Spark Capital
Spark Capital is a venture capital firm based in Boston, Massachusetts, with investments focused on the conflux of the media, entertainment and technology industries. Over the last decade, the Spark team has been instrumental in the development of new markets and market leaders such as Akamai Technologies, Qtera, Aether Systems, Novatel Wireless, Twitter, 5Min, Altius Education, AdMeld, Verivue and Tumblr. With deep experience and $980 million under management, Spark Capital provides world-class entrepreneurs and revolutionary companies with the resources to succeed in today's marketplace. To learn more, visit www.sparkcapital.com.
About Gobi Partners
Founded in 2002, Gobi Partners is a venture capital firm with its headquarters and incubation center in Shanghai, additional offices in Beijing, Hong Kong, and Tianjin, as well as an overseas office in Singapore. A leading investor in early stage digital media and technology companies in China, Gobi manages four funds with over US$300 million under management. Gobi's team of investment professionals has been investing and operating in China for nearly two decades, and has acquired extensive experience across a variety of disciplines and industries. Gobi brings additional value to its entrepreneurs by providing access to and leveraging the networks and resources of key strategic investors which include: IBM, McGraw-Hill, Nokia Growth Partners, NTT DOCOMO, Sierra Ventures, and Steamboat Ventures. Government partners also include the Shanghai Pudong Science and Technology Investment Company, the Tianjin Hi-Tech Group, and the Singapore Media Development Authority (MDA). For more information, visit www.gobivc.com.
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