Parents of preschoolers often go around with a low-level anxiety about whether their kids are learning how to read. This makes sense. There’s reams of evidence showing that early literacy is connected with success in school, and later, in the workplace. But learning how to read is a complicated process, and many parents feel ill-equipped to teach their toddlers how to decode words. A startup called Lovevery wants to help. The company—fueled by $131 million in VC funding—is known for...

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