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Prismatext’s deadline was February 28, 2023

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Prismatext

Read a book, learn a language | A fun and effortless language-learning platform
B2B Edtech Language Learning B2C Apps
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$58,201
Raised
84
Investors
Successfully funded and closed on February 28, 2023.
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Problem Solution Product Traction Customers Biz. model Market Competition Vision Investors Founders
About Team

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Prismatext Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Prismatext Crowd SAFE Prismatext Form C.pdf
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Hear from some of the 84 people reserved or invested in Prismatext


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Highlights


Bootstrapped
High traction without any outside capital
  • Prismatext blends useful foreign words and phrases into your favorite books
  • Research-backed learning method for easy & contextual language acquisition
  • Full-featured mobile app available on iOS and Android app stores
  • 100+ books in 16 languages
  • 5 publisher partnerships signed with dozens more in the pipeline
  • Patent pending software solution

Problem


We've all been
frustrated by trying
to learn a new language

We go in with the best of intentions, but inevitably it becomes too time-consuming or tedious…so we quit.

Learning a language is time-consuming: 10 minutes per day doesn't sound like much until it is. 

Learning a language is chore-like: there are plenty of other important things in our lives that demand effort. 

Learning a language is overly repetitive: the trap of rote memorization and dead-end exercises is real.

Solution


Prismatext's blended-language books help you learn while you read

We blend the most useful foreign language words into familiar popular literature, so you can learn a language passively and naturally while reading your favorite books.

We give you back your time
An hour spent reading your favorite novel is now also an hour of foreign language learning.

Prismatext makes it effortless
Our readers constantly tell us they are surprised at how many words they know after finishing a book.

You decide how to learn
Learn French reading romance, or Japanese with horror. Whatever you like, we've got you covered.

Product


Blended-language books for effortless learning

The blended-language method (known as Diglot Weave) was formalized over 50 years ago. It has a number of studies verifying its efficacy compared to traditional study methods. 

Until now, blended-language books have been difficult to produce at scale. Prismatext streamlines this process:

  • Blending a book by hand used to take 1000+ hours (imagine translating each word manually, for each language on offer).
  • Prismatext blends books in under 2 hours for any number of languages, whether it's 1 language or 101 languages.

Once blended, books are distributed via the Prismatext app, which includes audio pronunciation & density variants for each book. Our vision for the future includes even more features!

Traction


Pilot program metrics

The pilot’s success is notable given two huge limitations:

1) High-friction experience: We didn't have an app! Books were emailed to customers and had to be side-loaded to external devices. (Yikes!)

2) Limited bookshelf: for the majority of the pilot program we had only 30-40 titles. (For comparison, Amazon carries over 30 million titles, and Scribd has over 1 million.)

—

Until recently, Prismatext's revenue was limited to books available in the public domain. Our customers wanted modern titles, so now we are quickly signing agreements with publishers to bring contemporary literature to our growing bookshelf.

  • Q2 2022:
    First 4 publishers signed
  • Q3 2022:
    20+ publishers in pipeline, including 2 of the Big 5

Customers


Our customers love learning with Prismatext

"Only partway into this book and I totally love this idea! This is MY way to learn! Genius!"
—Janina B.

"I wasn't sure about learning with this method, until I went to review words from my book. I found that I knew not just their translations, but their context!"
—Meara B.

"It's a wonderful companion. I read it slowly at first, learning the words and adding notes to each. The repetition is so on point that I was able to reread it without looking anything up."
—Christopher H.

"I am really enjoying my new book. Look at me reading Italian almost without even having to try. It’s amazing how much fun this is!"
—Linda S.

Business model


No marginal cost of production

The Past: Prismatext was a straightforward e-commerce bookshelf. Customers would then side-load e-book files onto their own devices (a big user pain point).

The Future: We'll be rolling out a recurring revenue subscription service on top of our just-launched & feature-rich mobile app.


Unit Economics


Our unit margins are simple, and come in two flavors:

  • Public Domain Titles: Zero acquisition costs. 100% profit once blended.
  • Licensed Titles: We license the rights to many modern titles and keep ~70% of the sale.

We have no marginal cost of production: once a book is blended, our work is done. With a lean operation, and an intelligent engine that gets faster as it learns, Prismatext has explosive growth potential.

Market


There are over 2 billion language learners worldwide

We see our core market as language learners who are both online and are also avid readers.


But our most exciting opportunity — both for revenue and impact — is expanding to the 1 billion+ learners studying English worldwide. Our Spanish to English beta program is due for release later this year.

Institutional Market: Our platform is already being trialed in schools and we will continue to expand into this market when our offering is of sufficient size.

Competition


An industry on the move

Several recent large liquidity events make the language learning space an exciting one:



We're different


Prismatext has a unique niche in this market. Our blended-language method allows for effortless language learning without asking users to create a new habit. (In other words, our readers don't have to "feed the owl." 🦉❌)

Additionally, no one else leverages popular modern titles like we do. While all the other apps fight over new ways to do flash cards, we're adding books that people already want to read.

Vision


We’re building the world's first ‘effortless’ language learning platform


Our two-year vision:

Long-term vision:
A diversified platform for individual and institutional language learning tools, built on our blended e-books subscription revenue.


Use of Funds // Targets


  • Hiring engineers to help with product development
  • Expand and iterate on our user acquisition channels
  • Funding is sufficient for 18+ months of runway including engineering hires & marketing efforts

Investors


Bootstrapped to date

After a great pilot program and over 4,000 customers, Prismatext is raising its first ever round on Republic!

All of our progress so far has been with a very (very) small team and no outside funding — imagine what we could do with your support!

Founders


Zak has spent the last decade working remotely from all corners of the world. In that time, he has been one of Amazon’s go-to book designers/typesetters, has led product design at various startups and has helped develop software for a number of companies and projects. Zak also has five years of formal teaching experience at the collegiate level and below.

Phil has over 8 years of experience leading the sales and marketing efforts in tech and travel startups, as well as managing an e-commerce business in the health and wellness space. As a lover of learning and educating, he spent over 5 years teaching - mostly in test prep - including running his own tutoring business.

The two have:

  • 10+ years in education 
  • 15+ years in startups & e-commerce

Deal terms


Valuation cap

$6,000,000

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

Minimum investment

$150

The smallest investment amount that Prismatext is accepting.
Learn more

Maximum investment

$124,000

The largest investment amount that Prismatext is accepting.
Learn more

Funding goal

$1.24M

The maximum amount the offering can raise is $1.24M.
Learn more

Deadline
Prismatext 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

Nominee Lead

Chief Executive Officer of the Company (Zak Erving)

Will direct the Nominee on certain matters like voting, amendments and conversions affecting the security.
Learn more

How it works

Documents

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

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Prismatext.
Invest
$250
Receive
  • 3 free Prismatext Classic titles from our rapidly expanding bookshelf.
Invest
$10,000
Receive
  • One-on-One call with the founders to discuss roadmap, answer salient questions, and learn more about our plans for your capital!

About Prismatext

Legal Name
Prismatext Inc.
Founded
Mar 2020
Form
Delaware Corporation
Employees
0
Website
prismatext.com
Social Media
Headquarters
Google Map location of of Prismatext
911 West 8th Avenue Suite 101 #14 , Anchorage, AK
Headquarters
911 West 8th Avenue, Suite 101 #14, Anchorage, AK, United States 99501

Prismatext Team
Everyone helping build Prismatext, not limited to employees

Profile picture of Zak Erving
Zak Erving
Founder
Profile picture of Phillip Belleau
Phillip Belleau
Founder
Zak Erving
Founder
Phillip Belleau
Founder
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Prismatext

Prismatext successfully raised $58,201 from 84 investors on February 28, 2023
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