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CIT GAP Funds Invests in Shark Tank Winner Zoobean

04/22/2014

Coming on the heels of its hugely successful appearance on ABC's Shark Tank Friday night, Zoobean, an Arlington-based startup that creates personalized selections of children's apps, books and reading guides, has received an investment from the CIT GAP Funds, according to an announcement today by the Center for Innovative Technology (CIT).

Shark Tank billionaire and entrepreneur Mark Cuban praised and invested in Zoobean, which helps parents of young children identify the best products and strategies for building their children's literacy, saving them time while finding apps, books and resources that they can trust. The company employs a team of curators to rate and tag children's books and apps. Customers enter a child's interests, and the system generates personalized recommendations. Zoobean also provides reading guides and tools that facilitate collaboration between teachers and families.

CIT President and CEO Pete Jobse said, "Our CIT GAP Funds investment in Zoobean reflects our confidence in their team, product and passion to innovate childhood education. This is one more solid investment that is filling a growing demand of innovative entrepreneurs who are addressing societal challenges."

Zoobean CEO Felix Brandon Lloyd said, "We will use the investment from CIT GAP Funds to increase marketing and continue product development."

CIT GAP Funds is a family of seed- and early-stage investment funds placing near-equity and equity investments in Virginia-based high-growth technology, life science and clean technology companies.

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