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Digital Dream Labs isn't accepting new investments

Digital Dream Labs’ deadline was January 16, 2020

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Digital Dream Labs

The fun introduction to any topic for every child
Edtech B2C B2B SaaS Kids Childhood Education Hardware Apps Robotics
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$1,005,516
Raised
4,630
Investors
Successfully funded and closed on January 16, 2020.
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Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Digital Dream Labs, LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Digital Dream Labs Crowd SAFE Digital Dream Labs Form C:A.pdf
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Hear from some of the 4,630 investors in Digital Dream Labs


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Highlights


$1M+ raised
Company has previously raised over $1M in capital
$1M+ revenue
Company had over $1M in revenue in the past 12 months
Venture-backed
Company is backed by a venture capital firm
  • Digital and real-world STEM games for pre-K to 5th graders
  • Expansion into middle school grades with WebGL games
  • ~2x YOY revenue growth 2014-2017, profitable/breakeven since 2017
  • Have generated more revenue than we have raised ($1.65 million)
  • Sales expected to exceed $1 million in 2019 and $3 million in 2020
  • Active in 3,400+ U.S. elementary and several international schools
  • Edtech market projected to reach $252B+ by 2020

Problem


STEM topics are difficult to learn; a single platform to teach them remains elusive

STEM (Science, Technology, Engineering and Math) education is critical to student learning and for professional and personal success after graduation. But many children don’t start engaging with STEM topics until later in school. At this point, understanding such topics becomes intimidating, and it is often too late to adequately master these subjects.

Several studies have shown this to be true — in fact, 70% of skills gaps that show up amongst high school students are considered the result of a lack of education during that student’s more formative years--between kindergarten and second grade. Yet, when it comes to early childhood education, there aren’t any obvious solutions that engage young learners in STEM education in an age-appropriate and interesting way.

Solution


Digital Dream Labs: making STEM learning engaging with one flexible platform

We build engaging educational games that children actually want to play. Our first product, Puzzlets, is a hands-on learning system for pre-readers that uses toy puzzle pieces with RFID tags to control onscreen learning environments. Digital Dream Labs’ (DDL) innovative development platform, supported by a far-reaching patent, is readily extensible to other devices and applications, such as drones, smart speakers, and robots.

Cork the Volcano, the first game for Puzzlets, enriches logic, sequencing, and fine-motor skills through physical interaction and gameplay. With a focus on interactive classroom learning for primary-age children, DDL has garnered recognition for educational effectiveness and efficiency by organizations including the Gates Foundation and Digital Promise.

“Puzzlets [DDL’s current flagship product] show promise in promoting 21st century skills of communication, collaboration, creativity, and computational thinking in students.”  – Carnegie Mellon University researchers

In preliminary classroom studies, students using DDL’s hands-on technology showed a 10-25% gain in logic and sequencing skills in just 8 weeks, with struggling learners showing the greatest improvements. By targeting students in the key pre-reading years of kindergarten through 2nd grade, DDL’s Puzzlets provide the concrete, hands-on experience that children need to learn key STEM skills. Early development of these skills reduces later gaps, boosting test scores and building a solid foundation for tech education in higher grades.

Product


One company, one platform to bridge online and offline learning

All of our products exist in the real or digital world.  Our platform is designed to combine play with interactive online gaming to maximize student learning. We also make it easy for parents and teachers to set up, and then for children to use.

Our product can be used outside to sync to drones (under development).

Children as young as infants you can use our product with smart speakers as an at home tutor (under development). 

Our product also syncs with robots.

Our current offerings for finished products on our website.

Traction


3,400 elementary schools and and growing

Since launch, we’ve distributed thousands of units directly to schools.  This has helped demonstrate proof of concept.  We are currently building a pipeline of $3.8 million in growth accounts.  We’ve also engaged partners orders and currently have a backlog of 20k units to prepare for distribution. We expect sales to the school audience to grow significantly in the coming years.

Customers


A tool for both teachers and parents 

Schools, educational support organizations, and parents form DDL’s primary client base. Adopters of the company’s technology generally fall into one of four categories:

Cutting-edge, tech-focused schools with state-funded budgets or neighborhoods that support innovation in the classroom. Avonworth and Fox Chapel School Districts, two of DDL’s first customers, fit into this category.

Schools that are supported by ESAs (Educational Support Associations, also called BOISE in NY/NJ and IUs in PA). These are non-profit institutions that buy educational technology products on behalf of school districts that lack funding.

Sales groups or other companies that focus on selling to schools use Puzzlets as part of their solution package. Wonder Workshop, Eduporium, and Stax3D fall into this category.

Of course, parents make up a significant portion of our sales as well and are comprised of ‘generation X’ moms and ‘tech’ dads, demographics similar to those of Target customers.  Many of these orders either go through our e-commerce site or are sold by Amazon.

Business model


SAAS model with a versatile hardware component

  • High margin (90%) download only games.
  • Large margins (73%) for Puzzlet add-on games.
  • Health margins (50%) for Puzzlet 'Play Tray'.

Digital Dream Labs’ current flagship product is the Puzzlets Starter Pack with Cork the Volcano. This consists of the Play Tray, RFID command tiles, and the ability to sync via Bluetooth to an iPad, making classroom integration easy. Puzzlet games are controlled by the arrangement of tiles in the Play Tray, creating 50-50 interaction between the physical and digital worlds.

Our current revenue steam is simple and similar to other gaming platforms. We offer a base that is priced at $99.99, educators get 10% off, that requires purchase of additional game tiles for each title priced in the neighborhood of $40.  Once the equipment is installed, the parent or teacher can then download additional games for a fee.  If the customer does not want to purchase hardware, then our content is downloadable for a subscription fee and will be expanded to be on several gaming delivery platforms by 2020 for the price of $10/student/year for all content. 

We are designing our first “software-only” game called "Monstrous Molecules," that will focus on middle school students.  This game teaches chemistry basics required in middle school curriculum.  This title will be available for $5/student/year. Monstrous Molecules will be primarily built for Google Chromebooks, which represent more than 78% of the middle school computer market, but will run on WebGL and therefore will run on any browser on any desktop or mobile device.  


Market


Reaching edtech and beyond

According to the New York Times, “To make computer science opportunities accessible to all students, we need to start in elementary school — where classrooms are split equally with students of all backgrounds, and the playing field is still relatively level. By high school, it can be too late.”

As a result of addressing this problem, the educational technology market is projected to grow 16% YoY for the next three years and beyond, reaching $252 billion globally by 2020 as schools rush to invest in solutions that promote STEM education across all grade levels.

One wide-open segment of this growing sector is in primary education, where tactile learning is imperative because students do not yet have the necessary reading skills to work through most of the products already on the market.  A full implementation of our product just for K through 2nd grade would reach a revenue of $5B+ in the United States alone.


Competition


We’re masters of gameplay - high engagement and high versatility

Historically, DDL has operated at the confluence of hardware, software and education, where the very nature of the industry creates nearly-insurmountable barriers to entry. Even though the market is highly desirable, manufacturing difficulties, capital needs, a lack of experts, and going-to-market challenges represent vast hurdles that kill most companies in this space. This can be seen in the number of primary-age EdTech startups and crowdfunded projects that fail to ever reach the mainstream.

 Osmo, a Byju company, is DDL’s closest competitor, with   outstanding marketing but a less effective product.

LittleBits, a Sphero company, was born out of the 'maker movement' and has a product that is essentially 100% hardware.

Tynker is strictly an online platform that focuses on teaching STEM topics with games that are virtual tests.

Our future software-only offerings, targeting middle school and high school students, are expected to attract a wider range of competitors.  Nevertheless, we believe the ease of developing educational games on our platform as well as the strength in our brand will continue to provide a sustainable advantage. 


Vision and strategy


One platform to rule them all 

Our use of funds for this raise is simple; hire more people to accelerate game design to keep up with demand that will then enhance revenue for the company.  In addition to updates and new levels for DDL’s current games, we are developing several new initiatives to build on our current market success.

Middle school and high school offerings

In Q4 2019, DDL will release a chemistry game for middle school students. Downloadable and subscription games will create new sources of revenue.

K-5 offerings

In 2020, we will launch 3D Puzzlets. Called “the physical embodiment of Minecraft,” 3D Puzzlets will offer a buildable real-world environment that students can use to interact with DDL’s software.

RFID flash card games that can be read by the Play Tray, introducing a new manipulable element to the Puzzlet platform that syncs with a smart speaker.

Funding


Raised $1.65m to date from notable investors

Current investors include Jacob Hanchar (CEO), Eric Silver (ModCloth), Tim Chen (former CEO Microsoft China), Carnegie Mellon University’s OFEF Fund, Peter Stern (founder, Datek Online), Jonathan Kaplan (founder, Flip Video Camera), and Alpha Lab and Innovation Works.

Founders


Jacob Hanchar, CEO

Ph.D. UCLA, MBA CMU, founder, investor, and largest shareholder.

Deal terms


Valuation cap

$5,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

20%

If a trigger event for Digital Dream Labs occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$50

The smallest investment amount that Digital Dream Labs is accepting.
Learn more

Funding goal

$1.07M

Digital Dream Labs must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Digital Dream Labs needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Digital Dream Labs, LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Digital Dream Labs Crowd SAFE Digital Dream Labs Form C:A.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Digital Dream Labs.
Invest
$50
Receive
  • Shout out on our website!
Invest
$100
Receive
  • A download of the first level of our chemistry game "Monstrous Molecules"! First level available Winter 2019.
Invest
$250
Receive
  • A one year one student subscription of our new chemistry game "Monstrous Molecules" (release date March 2020) for you and a school of your choice!
Invest
$500
Receive
  • One Puzzlets 'starter pack' for you and a school of your choice!
Invest
$1,000
Receive
  • One Puzzlets 'trifecta pack' that includes our coding, math, and art games for you and a school of your choice!
Invest
$2,500
Receive
  • A full classroom subscription (30 students) to our chemistry game for a school of your choice!
Invest
$5,000
Receive
  • A full classroom set (15 units) Puzzlets 'starter pack' to a school of your choice!
Invest
$10,000
Receive
  • A full classroom set (15 units) of Puzzlets 'trifecta pack' and a full classroom subscription (30 students) to our chemistry game for a school of your choice!
Invest
$25,000
Receive
  • All of the above and a day at our office learning how games are designed! (transportation not provided)

Why others invested

See all reviews (0) See all (0)

Proud to support such an amazing company that is doing great things for our children. This is a rare opportunity to micro-invest in a hot startup on a mission to help educate our future. I'm proud of all that DDL team is doing!!!

Profile picture of Michael Regan
Michael Regan
Investor
over 5 years ago

I like the companies vision towards the advancement future education. I believe that this is a great way to develop our young children mind and express their imagination.

Profile picture of Liezel Barnett
Liezel Barnett
Active investor
over 5 years ago

Educating the next generation is incredibly important. The education system in America is broken and I love the vision Digital Dream Labs has. I'm very confident in what they are doing.

Profile picture of Solomon Green
Solomon Green
Active investor
over 5 years ago

About Digital Dream Labs

Legal Name
Digital Dream Labs, LLC
Founded
Jul 2012
Form
Pennsylvania LLC
Employees
7
Website
digitaldreamlabs.com
Social Media
Headquarters
Google Map location of of Digital Dream Labs
100 South Commons , Pittsburgh, PA
Headquarters
100 South Commons, Pittsburgh, PA, United States 15212

Digital Dream Labs Team
Everyone helping build Digital Dream Labs, not limited to employees

Profile picture of Jacob Hanchar
Jacob Hanchar
Founder
Featured in Superheroes · Read
Jacob is CEO of Digital Dream Labs, an edtech company based in Pittsburgh. He serves as adviser and investor to many start-up companies in Western PA. Jacob received his Ph.D. in 2007 from UCLA, where he focused on research in neurological sciences.
Profile picture of An Nguyen
An Nguyen
Lead Artist
Profile picture of Ben  Ungar
Ben Ungar
Intern Programmer
Profile picture of Bryan Gardiner
Bryan Gardiner
Lead Programmer
Profile picture of Jordan King
Jordan King
Marketing Director
Profile picture of Josh Forester
Josh Forester
Product Developer
Profile picture of Matthew Derrick
Matthew Derrick
Assistant Artist
Profile picture of Swapnil Mengade
Swapnil Mengade
Assistant Programmer
7 more team members
Jacob Hanchar
Founder
An Nguyen
Lead Artist
Ben Ungar
Intern Programmer
Bryan Gardiner
Lead Programmer
Jordan King
Marketing Director
Josh Forester
Product Developer
Matthew Derrick
Assistant Artist
Swapnil Mengade
Assistant Programmer

Press

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·
Jan 28, 2019

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Mar 8, 2018

Computer coding is an innovative skill that has slowly trickled down to younger generations with new innovations in techn...

Hartwood Elementary to get visit from state Department of...
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·
Dec 19, 2017

Hartwood Elementary students will get a special visit Wednesday from Judd Pittman, special consultant to the Secretary of...

There's a new crop of coding toys for techie tykes
Mail Online Mail Online
·
Dec 16, 2015

Apple boss visited a coding workshop at firm's New York store Several firms have creating robotic toys to teach coding Wa...

North Side toymaker Digital Dream Labs starts strong in 1...
TribLIVE.com TribLIVE.com
·
Dec 2, 2015

Holiday sales are critical for toy companies, and Jacob Hanchar hopes this shopping season will put his startup on a path...

Show all
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Digital Dream Labs

Digital Dream Labs successfully raised $1,005,516 from 4630 investors on January 16, 2020
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Paul and Soraya, Carol, Marquita, Cleve, edward, and 4625 others invested. 1321 Reviews
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