The Smurfs, Transformers and Kung Fu Panda have some more funding coming to them: iStoryTime, which develops kids’ picture books for mobile phones and has repeatedly had number-one apps in the iTunes Store, closed a $2 million Series A round.
iStoryTime (NYSE: TWX), which is owned by Santa Barbara-based Zuuka Group, has about 100 children’s book titles available as apps for iOS (and just two for Android). The company’s founder, Graham Farrar, told Dow Jones (NSDQ: NWS) VentureWire he’ll stick to iOS for now: “That’s where people spend money.” Funding came from German firm Corporate Finance Partners.
iStoryTime will use the funds to expand its library, adding more titles to compete against other children’s book app developers like Oceanhouse Media and Callaway Digital Arts. Oceanhouse Media self-funded and currently has 245 children’s book apps available, from brands like Dr. Seuss and the Berenstain Bears. Callaway Digital Arts raised $6 million in Series A funding in November and its brands include Thomas & Friends and Angelina Ballerina, as well as Martha Stewart.