PICMONIC: $1.25 million to Tempe, AZ-based Picmonic in a convertible note financing round led by Parchment CEO, Matthew Pittinsky (also the co-founder of Blackboard), with Arizona Tech Investors, The Desert Angels and individuals from Canal Partners also participating. Founded in 2011, Picmonic claims that "by turning the information you need to know into unforgettable images and stories...studying [will be] easier than ever." (So what picture would they use for the fine details of this announcement?)
The "visual learning platform" delivers content in the form of audiovisual mnemonic cards that currently cover nursing, medicine and MCAT test prep. Users can also create and share cards. Different subscription plans range from $25 per month to a $500 one-time payment.
With this round, the company has now raised $2.6 million. Pittinsky and Bob La Loggia, one of the angel investors, will join the company's board of directors. More details in the release here.
