First close filed by virtual piano teacher, Playground Sessions, after raising 45%


playgroundPlayground Sessions initiated a first close after placing $800,000 with twelve investors. The company’s $1.76 million non-brokered equity financing started to sell almost two weeks ago. The offering will remain open until January 2015 while an additional $960,000 worth of securities is sold to investors. Two previous unregistered financing rounds raised an estimated $1.25 million.

The company designed a downloadable educational application (app) to learn how to play the piano while playing popular songs. It combines elements of gaming, such as real-time feedback and scoring, with modern learning techniques an engaging learning environment. The software company recommends to own a Midi or USB keyboard to take full advantage of the services such as progress visualization, otherwise it can be used for arrangements, print sheet music and access video song tutorials.

The company, headquartered in New York NY, is led by Christopher Vance (CEO). Playground Sessions elected to keep its revenues undisclosed. The executive team includes Christopher Vance. The board of directors includes Andrew Howlett, Michael Keriakos, Neil Munn and Terry Lewis.

Offering recap
Status: First close
Company: Playground Sessions
Industry: Other Technology
Amount offered: $1.76 million
Amount placed: $800,000
First sale: 2014-01-31

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