About Novel Effect
Novel Effect is a company based in Seattle (United States) founded in 2015 by Matthew Hammersley and Melissa Hammersley.. Novel Effect has raised $4.34 million across 6 funding rounds from investors including Techstars, Alpha Edison and Waverly Capital. Novel Effect offers products and services including Novel Effect App, Rock Your Read Aloud Book, Book Activities, and Gift Bundles. Novel Effect operates in a competitive market with competitors including Learn With Homer, Epic, Speakaboos, StoryToys and Moshi, among others.
- Headquarter Seattle, United States
- Founders Matthew Hammersley, Melissa Hammersley
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Sectors
ConsumerTechnology Education
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Phone
*********
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Website
*********
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Social
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- Legal Name Novel Effect, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$4.34 M (USD)
in 6 rounds
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Latest Funding Round
$4.22 M (USD), Series A
May 22, 2018
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Investors
Techstars
& 9 more
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Employee Count
Employee Count
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Products & Services of Novel Effect
Novel Effect offers a comprehensive portfolio of products and services, including Novel Effect App, Rock Your Read Aloud Book, Book Activities, and Gift Bundles. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Mobile app that adds interactive sound effects to children's book read-alouds.
Product for enhancing storytime with additional reading resources and materials.
Supplementary tools for interactive learning and storytime engagement.
Bundles of books and stickers for gifting and educational use.
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Funding Insights of Novel Effect
Novel Effect has successfully raised a total of $4.34M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $4.22 million completed in May 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series A — $4.2M
- First Round First Round
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2018 | Amount | Series A - Novel Effect | Valuation | Alpha Edison , Waverly Capital | |
| Jul, 2017 | Amount | Seed - Novel Effect | Valuation | Techstars |
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| Jun, 2017 | Amount | Seed - Novel Effect | Valuation | Carbon Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Novel Effect
Novel Effect has secured backing from 10 investors, including venture fund and institutional investors. Prominent investors backing the company include Techstars, Alpha Edison and Waverly Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Series A and growth-stage investments are made by Alpha Edison.
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Founded Year | Domain | Location | |
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Venture capital investments in consumer businesses, emphasizing technology and human behavior.
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Founded Year | Domain | Location | |
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Seed and early-stage technology companies are funded by Lux Capital.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Novel Effect
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Novel Effect
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Novel Effect Comparisons
Competitors of Novel Effect
Novel Effect operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Learn With Homer, Epic, Speakaboos, StoryToys and Moshi, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Comprehensive literacy applications for kids
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| domain | founded_year | HQ Location |
eBooks for children are provided with audio read-along features.
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| domain | founded_year | HQ Location |
Subscription-based interactive storybooks
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| domain | founded_year | HQ Location |
Educational apps and interactive books for children are developed.
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| domain | founded_year | HQ Location |
Online platform offering stories for kids
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Novel Effect
Frequently Asked Questions about Novel Effect
When was Novel Effect founded?
Novel Effect was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Novel Effect located?
Novel Effect is headquartered in Seattle, United States. It is registered at Seattle, Washington, United States.
Who is the current CEO of Novel Effect?
Matthew Hammersley is the current CEO of Novel Effect. They have also founded this company.
Is Novel Effect a funded company?
Novel Effect is a funded company, having raised a total of $4.34M across 6 funding rounds to date.
What does Novel Effect do?
Novel Effect was founded in 2015 in Seattle, United States, focusing on edtech for childrens literature. An iOS app is offered that employs proprietary voice-recognition technology to integrate real-time audio effects with story readings. Supported titles are added to the library daily, including classics like Where the Wild Things Are and The Tale of Peter Rabbit. Compatibility is provided for both print books and ebooks.
Who are the top competitors of Novel Effect?
Novel Effect's top competitors include Epic, Learn With Homer and StoryToys.
What products or services does Novel Effect offer?
Novel Effect offers Novel Effect App, Rock Your Read Aloud Book, Book Activities, and Gift Bundles.
Who are Novel Effect's investors?
Novel Effect has 10 investors. Key investors include Techstars, Alpha Edison, Waverly Capital, Maveron, and Lux Capital.
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