Snorble, the company that aims to improve the nighttime routine of children, has received an investment of $10-million from private equity firm GK Venture Partners.
Snorble was co-founded by Halifax resident and native Newfoundlander Mike Rizkalla in response to his difficulties establishing a consistent going-to-bed routine for his own kids.
Rizkalla’s invention is a sleep trainer that blends “proprietary natural language processing and AI with an animated character.”
“Backing to the tune of $10-million is a significant belief in the Snorble concept for an organization still in the pre-revenue phase,” Rizkalla said in a release. “We are standing at the foothills of a whole world of imagination that we will deliver through our immersive Lullaboo platform as we close in on the initial Snorble product launch.
“We are humbled that GK Venture Partners share our vision and are enabling us to accelerate the growth of an already inspired team that deserves credit for putting us in this great position.”
GK Venture Partners, based in New Jersey, said in a release that it “shares the Snorble philosophy that bringing positivity and balance to a child’s routine can create a brighter day and calmer night for everyone in the family.”
“We are pleased to partner with a technology innovator within the AI space dedicated to the health and wellness of children,” said GK Venture Partners EVP and CEO Phil Salmon. “Snorble is an innovative company which has created a meaningful experience that promotes positive interactions with technology while fostering healthy habits through a unique combination of functionality, AI, and educational content.”
Snorble employs leaders in animation, storytelling, entertainment, child development, product engineering, voice recognition, AI, software engineering, design, marketing, and retail sales.