DBW 2018 Featured Speaker "Novel Effect" Closes $3M In Funding
One of the first speakers we lined up, as we were putting together the Digital Book World 2018 program, was Novel Effect.
This company, among the first to participate in the Amazon Alexa Techstars Incubator and which went on to raise half a million dollars on Shark Tank, has profound technology that will help children read more, enjoy what they read more, and understand what they read more.
Husband and wife co-founder team Matt and Melissa Hammersley will speak at Digital Book World 2018, while the Novel Effect "Interactive Reading Room" will be a punctuation mark on a fantastic and completely revitalized DBW Exhibit Hall experience this fall.
The company just completed a $3M funding round with some significant investors on board, to help fully realize their vision for their technology. You can read about that below.
Additionally, I asked CEO Matt Hammersley what they were looking forward to the most about Digital Book World this fall. "I'm really interested in the Marketing Track for the show, and if I had to pick just one session to circle on the schedule, it would be the presentation Working with Media to Amplify Your Message. As we continue to grow and diversify our product in the coming year, strategizing how to get the word out will be very important, and we can't wait to hear Aaron's insights."
We're excited to have Novel Effect join us, along with all the other companies across the wide world of publishing that are doing incredible work to advance publishing, as an industry, in one way or another. Make sure to say hello to them this fall in Nashville.
FOR IMMEDIATE RELEASE
22 May 2018
NOVEL EFFECT, THE VOICE INTERACTIVE APP THAT BRINGS STORIES TO LIFE, WINS WEBBY, RAISES $3 MILLION IN SERIES A FUNDING
SEATTLE, WA — Novel Effect, the voice interactive app featured on Shark Tank, follows its win for Best Integrated Mobile Experience at the 22nd Annual Webby Awards by closing a $3 million Series A investment round co-led by Alpha Edison, TenOneTen Ventures, and Waverley Capital.
Founded in 2015 by husband and wife team Matt and Melissa Hammersley, Novel Effect was one of nine companies to participate in Amazon’s inaugural Alexa Accelerator powered by TechStars in 2017. Amazon Alexa Fund also joined the Series A round with additional investors Lux Capital, Maveron, and McCune Capital.
“We were really impressed by Matt and the entire Novel Effect team during last year’s Alexa Accelerator, and this round of funding represents another big milestone for the company,” said Paul Bernard, Director of the Alexa Fund. “Their platform is a great example of how voice technology can augment and improve offline experiences, and we think customers are going to love using it.”
The app, which was inspired by a friend’s picture book reading during the Hammersley’s baby shower, uses natural language processing and AI to synchronize ambient music, sound effects, and voice overs as text is read aloud. Currently available on iTunes, the app has 150+ soundscapes in its library with more on the way. It will roll out to the Android market in Q3, and an Alexa skill is also on the roadmap.
“When Daniel and I started Waverley, we were looking for companies that bridge the space between Silicon Valley and traditional media,” said Edgar Bronfman Jr. Co- Founder and General Partner at Waverley Capital. “While Novel Effect’s platform is currently focused on children’s picture books, their awareness of and commitment to voice-first technology promises to be a game-changer across all categories of entertainment – books, movies, television, game play and more.”
“We are excited to have such strong investors on board that provide us not only capital but vast strategic experience.” said Matthew Hammersley, who also serves as Novel Effect’s CEO. “Waverley, Alpha Edison and TenOneTen will be pivotal to our audience and platform growth goals. We can’t wait to work with them to bring experiences of all shapes and sizes to life!”
The Series A financing will be used to fund audience growth for Novel Effect’s current
app as well as the continued expansion of its proprietary technology into new product categories and platforms. Daniel Leff, Co-Founder and Managing Partner at Waverley Capital; Nick Grouf, Managing Partner at Alpha Edison; and Bill Carr, former Vice President of Digital Media at Amazon will join the Hammersleys on Novel Effect’s Board of Directors.
“We are excited to have such strong investors on board that provide us not only capital but vast strategic experience.” said Matthew Hammersley, who also serves as Novel Effect’s CEO. “Waverley, Alpha Edison and TenOneTen will be pivotal to our audience and platform growth goals. We can’t wait to work with them to bring experiences of all shapes and sizes to life!”
ABOUT NOVEL EFFECT
Novel Effect is voice interactive entertainment platform that brings all kinds of stories to life. Their proprietary technology uses voice recognition to sync ambient music, sound effects, character voices, and more with a storyteller’s voice. Novel Effect is the 2018 Webby Awards winner for Best Integrated Mobile Experience for their unique integration of a handheld mobile device and print media. For more information, visit: www.noveleffect.com
Contact:
Novel Effect Tina McIntyre
tina@noveleffect.com
315-965-2169
