Quick Read: Black-owned edtech platform Beanstack has secured a $1.5 million seed round, including renewed support from Mark Cuban. Founded in 2013 by Felix Brandon Lloyd and Jordan Lloyd Booke, the platform inspires reading through customizable challenges and diverse book selections.
The Founders’ Story
Beanstack was launched in 2013 by husband-and-wife duo Felix Brandon Lloyd, the CEO, and Jordan Lloyd Booke. Both founders bring a wealth of experience in education. Booke previously led Google’s K-12 education outreach from 2011 to 2013, while Lloyd spent seven years as a teacher and dean at the SEED Public Charter School.
The inspiration for Beanstack came from a personal moment with their young son.
“One night, while reading a book to our 2-year-old son, he pointed to biracial characters on the page and said, ‘That’s me, and that’s little sister,’” Lloyd shared in a past interview with AFROTECH™. “The power of reading was so clear. We immediately decided to use our backgrounds in education to create a new business idea.”
Evolution of Beanstack
Initially, Beanstack began as a book-of-the-month subscription service focused on traditional genres. Over time, the company embraced technology to expand its impact. Today, it provides enterprise-level software that helps schools and libraries create reading challenges and curate diverse book selections. Families can also engage with the platform through a dedicated mobile app.
Beanstack’s reach is impressive. It has been adopted by over 2,500 library systems, 6,000 school buildings, and 180 school districts, connecting with more than 13.8 million readers, according to the company’s website.
Securing Investments
In 2014, Beanstack made headlines by securing a $250,000 investment from Mark Cuban on “Shark Tank.” Recently, Cuban renewed his support by participating in a $1.5 million seed funding round. Other contributors to the round include Riverside Acceleration Capital, Evoce Capital, Kapor Capital, Militello Capital, and the founders’ families.
Plans for Growth
The new funding will fuel Beanstack’s growth and support its Reading Culture Trailblazer program. This initiative highlights schools where 75% of students actively use Beanstack’s reading logs.
Beanstack’s journey from a family-inspired idea to a technology-driven platform shows its commitment to fostering a love for reading and literacy in communities worldwide.
