Mathpresso, the Seoul-based tech company behind QANDA (an AI-based learning app) for students in grades K-12, announced today that it had added Google as an investor.
Google's undisclosed investment was not part of the Series C that it raised in June, according to the company without revealing its valuation.
Five months after the company's $50 million Series C, it now has an additional investment event. This brings its total funding up to $105 millions as of June. SoftBank Venture Asia and MiraeAsset Venture Investment, Smilegate Investment and Samsung Venture Investment Corporation were the company's prior backers.
Mathpresso hopes to work with Google on its global market expansion as well as technological advancement.
QANDA users are located in Japan, Southeast Asia and beyond. More than 85% of them are from outside Korea. Seoul-based startup has branches in Tokyo, Hanoi Jakarta, Bangkok, and Tokyo. It offers seven languages: English and Spanish as well as Thai, Vietnamese, Thai, Japanese, Thai and Indonesian.
Mathpresso was established in 2015 by Ray Lee and Jake Lee (CEOs). QANDA is a 1:1 Q&A platform. QANDA was launched by Mathpresso in 2016. It provides personalized learning content and detailed math solutions that are tailored to each user's needs. QANDA's AI based optical character recognition technology (OCR), was added in 2017. It recognizes text and mathematical formulas in photos and allows users to search for the answers within seconds.
According to the QANDA platform statement, approximately 10 million photos are uploaded each day. QANDA claims it has more than 45 million registered users, 3 billion education data points and over 12 million monthly active users across 50 countries.
Mathpresso has added new features to QANDA this year. These include the premium subscription model that provides unlimited "byte-sized” micro-video lectures, and the community feature that promotes collaboration like an online study group.
Mathpresso's Chief Financial Officer Soo Nahm stated that "the investment by Google opens up amazing opportunities for Mathpresso" and improves their ability to serve students across the globe. This investment, together with the Series C funding, will allow us to accelerate our global market expansion and technological advancement.
QANDA is available for Android, iOS, and the Web.
