Israeli Music Education Startup JoyTunes Raises $25M

Israeli startup JoyTunes, which developed a musical learning app, announced on Tuesday that it raised $25 million in a round led by Tel Aviv-based venture capital firm Qumra Capital.

Other participants included New York-based venture capital and private equity firm Insight Venture Partners, an existing investor, venture capital fund Aleph and Jeremy Stoppelman, the CEO and founder of business directory service Yelp.

The funding round brings the total money raised by the music education startup to $43 million to date.

Founded in 2009 and based in Tel Aviv, JoyTunes developed music learning software that teaches users how to play musical instruments. Users can learn how to play through mobile apps featuring interactive listening, gaming features, and other music learning methodologies. Simply Piano, the company’s most recognized app, shows users which piano keys to press in order to play a song. Apps from JoyTunes are known for being interactive and teaching users to play intuitively.

“We are on the fast track to fulfilling our vision – to become the music education center of every household worldwide,” said Yigal Kaminka, co-founder and CEO of JoyTunes, in a statement announcing the raised capital.

Sivan Shamri Dahan of Qumra Capital will join the company’s board of directors as part of the deal

“The company is demonstrating phenomenal growth and we are very proud to have JoyTunes join our portfolio. JoyTunes combines a great business model, a clear vision, with an inspiring product making a positive impact on the world.” Dahan said.