Microsoft’s venture arm M12 is reportedly close to striking a deal to become a shareholder in SuperAwesome, a British “kid-tech” start-up that aims to keep children safe online.
The US tech giant’s venture capital arm M12, formerly known as Microsoft Ventures is expected to buy a share of the firm that was founded in 2013, according to Sky News. The deal is reportedly “modest in size”, and is expected to be confirmed next month.
SuperAwesome was started by Dylan Collins, an Irish entrepreneur and develops technology to make the internet safer for children by moderating content or blocking adverts that is inappropriate for children to see. Multinationals including Kellog’s Mattel, Nintendo and Unilever and some of the brands that are listed as clients on the company’s website.
The company is expected to be valued at more than £200m after the latest investment. It owns products like Kidinfluencer, which helps brands remain compliant with international rules when showcased on YouTube. Another product called PopJam, is developed for ensuring compliance with CORPA laws in the US and GDPR across Europe, that govern data privacy. PopJam is commonly referred to as a kid-safe alternative to social media platforms like Facebook, Instagram, and Snapchat.
Brands have to take care of the regulatory rules, which can lead to heavy fine if failed. In September, YouTube was fined $170m by regulators in US to settle allegations that it secretly collected children’s data without parental consent. However, many criticized the tiny amount compared to the amount in Google’s annual profit. SuperAwesome aims to solve this by enabling safe digital engagement for more than 500m children around the world every month.
The list of existing shareholders in SuperAwesome includes names like Horton Ventures, an investment firm having stakes in Babylon Healthcare and Deliveroo, and Mayfair Equity Partners, a backer of OVO Energy. There seem to be no immediate plans for an initial public offering.
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