Mathpresso, the Seoul-based edtech firm behind QANDA, an AI-based studying app for Okay-12 college students, introduced as we speak it has added Google as a brand new investor.
Google’s undisclosed funding just isn’t a part of its Sequence C raised in June, the corporate stated with out offering its valuation.
The extra funding occasion comes 5 months after its $50 million Sequence C, which introduced its whole funding to $105 million as of June. The corporate’s earlier backers embrace SoftBank Enterprise Asia, MiraeAsset Enterprise Funding, Smilegate Funding, Samsung Enterprise Funding Company and Legend Capital.
Mathpresso expects to create synergies with Google by way of its world market growth and technological development.
Greater than 85% of QANDA’s customers are exterior of Korea, in Japan and Southeast Asia. The Seoul-headquartered startup has workplaces in Tokyo, Hanoi, Jakarta and Bangkok and presents seven languages: English, Spanish, Korean, Japanese, Thai, Vietnamese and Indonesian.
Mathpresso was based in 2015 by co-CEO Ray Lee and Jake Lee, who developed QANDA as a 1:1 Q&A service platform. In 2016, Mathpresso launched QANDA, which gives detailed math options and customized studying content material catered to every consumer’s degree. QANDA’s AI-based optical character recognition (OCR) know-how, added in 2017, acknowledges textual content and mathematical formulation in a photograph and permits customers to seek for solutions in seconds.
Roughly 10 million pictures are uploaded each day on QANDA platform, the assertion stated. The corporate claims that the QANDA app has amassed over 45 million registered customers and three billion training information factors, with over 12 million month-to-month energetic customers in 50 nations.
Mathpresso added new options on QANDA earlier this yr, together with the premium subscription mannequin that provides limitless “byte-sized” micro-video lectures and the group characteristic that enhances collaborative studying like a web based examine group.
“The funding by Google opens up thrilling alternatives for Mathpresso and enhances our capability to serve college students all over the world,” stated Chief Monetary Officer of Mathpresseo Soo Nahm. “Along with the latest Sequence C funding, this funding will assist us speed up our world market growth in addition to our technological development.”
QANDA is out there on Android, iOS and Internet.
