Mathpresso secures Series C funding for KRW 77 billion.
Summary
YBM (KOSDAQ: 057030) and Signite partners joined the funding as new investors.Goodwater Capital, Softbank Ventures, and Mirae Asset Venture Investment participated in the funding round as legacy investors.The post-money valuation will not be disclosed to the public.YBM, an education company, joins as a new investorThe two companies plan to maximize synergies by leveraging their influence and expertise in middle and higher education.In the future, Mathpresso will focus on improving vertical services for personalized learning experiences and strengthening profitability.Qanda, launched in January 2016 as a question-and-answer app for higher education teachers, saw strong growth in the South Korean and global markets after it introduced a search function where AI reads and delivers solutions when you take a photo of an unknown problem.87% of the total 75 million subscribers this month are from overseas.Mathpresso is becoming a comprehensive education super-platform by operating the Qanda app, the 1:1 distance learning service Qanda Tutoring, and Vietnams largest online lecture service Qanda Study.In November last year, the service expanded into a hyperlocal education platform by launching a school transcription service that digitally transcribes past school materials in attendance.Mathpresso secures its Series C funding at US$49.3M.