San Francisco, California-based kids entertainment applications startup, ToyTalk has secured USD 15 million in series B funding led by Khosla Ventures with participation from other investors include Greylock, Charles River Ventures, True Ventures, and First Round Capital.
Post Investment, Khosla partner Samil Kaul will join the ToyTalk board of directors, which already includes Greylock’s David Sze, CRV’s Saar Gur, and Graham Walters.
The raised funding will be used to to grow its Engineering and Production teams, both with a number of partners and with its own products. ToyTalk CEO Oren Jacob told TechCrunch that, “ToyTalk’s plan is to license the tech to toy manufacturers. We don’t want to make the products. We want our partners to do that.”
Including this round, the firm has received a total capital of USD 30 million in 3 rounds from 7 investors. It creates conversation-driven entertainment for families, such as The Winston Show, a talk show app for children available for the iPad users. The startup was launched in 2011, as a venture of Founder & CEO Oren Jacob and Founder & CTO Martin Reddy.
Recently, ToyTalk had signed a two-year research partnership agreement with Sesame Workshop, the nonprofit producer of “Sesame Street,” and the children’s speech recognition company.