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SuperAwesome CEO and founder Dylan Collins. Photo: SuperAwesome

SuperAwesome, a platform used to power kid-safe technology, has raised $17 million in a strategic financing round led by M12, Microsoft's venture fund.

Why it matters: It represents a growing investment in kid-safe content and kids privacy compliant technology. Microsoft is one of the first major U.S. tech firms to take a stake in a kids tech company.

Be smart: The raise is more of a strategic strengthening of ties between SuperAwesome and Microsoft than it is a financial lifeline.

  • According to CEO Dylan Collins, SuperAwesome was profitable in 2019. "Our revenues are growing pretty quickly," he told Axios. "We're currently at a $75 million run-rate."
  • To date, SuperAwesome has raised a total of $37 million. The company now powers over 12 billion kids digital transactions every month.

Investments in kid-safe content and tech are growing. On Monday, Encantos, a children's entertainment brand, closed a $2 million seed round led by Kapor Capital with participation from Boston Meridian Partners, Chingona Ventures, Human Ventures, and MathCapital. 

  • In a statement, the company says that it will use the funds for "subscription services that deliver engaging educational digital experiences and physical hands-on craft activities for pre-school and primary school age children."

The big picture: Countries around the world are doubling down on digital privacy and safety for children, which is a huge part of what's making investments in kid-friendly and kid privacy-safe content and tech attractive to big companies.

  • In the U.S., The Federal Trade Commission struck a record $170 million settlement with Google over kids' privacy violations on YouTube last year. The settlement settlement represents an expansion of COPPA enforcement in the U.S.
  • Other countries and regions, like the EU, China, India and Brazil are also cracking down on children's privacy with new laws and enforcement mechanisms.
  • The streaming wars have also spurred a kids content arms race, which has driven up investment in kids content.

Go deeper:

Go deeper

31 mins ago - Health

U.S. tops 88,000 COVID-19 cases, setting new single-day record

Expand chart
Data: COVID Tracking Project; Chart: Axios Visuals

The United States reported 88,452 new coronavirus cases on Thursday, setting a single-day record, according to data from the COVID Tracking Project.

The big picture: The country confirmed 1,049 additional deaths due to the virus, and there are over 46,000 people currently being hospitalized, suggesting the U.S. is experiencing a third wave heading into the winter months.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day.
  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus.
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases.
  4. Sports: MLB to investigate Dodgers player who joined celebration after positive COVID test.
  5. 🎧Podcast: The vaccine race turns toward nationalism.

The norms around science and politics are cracking

Illustration: Aïda Amer/Axios

Crafting successful public health measures depends on the ability of top scientists to gather data and report their findings unrestricted to policymakers.

State of play: But concern has spiked among health experts and physicians over what they see as an assault on key science protections, particularly during a raging pandemic. And a move last week by President Trump, via an executive order, is triggering even more worries.