Numerade Raises $26 Million To Reinvent The World Of Tutoring
Numerade, an EdTech startup from Los Angeles, California, has secured $26 million in Series A funding which will be used to help democratize science, technology, engineering, and math (STEM) education for millions of students worldwide.
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The round of funding was led by IDG Capital, an investment firm based in Boston, Massachusetts. This was supplemented by existing investors General Catalyst, Mucker Capital, and Kapor Capital, and strategic investors including Alumni Ventures Group, Interplay Ventures, Toy Ventures, Margo Georgiadis, Khaled Helioui, Taavet Hinrikus, Sten Tamkivi, Pierre-Dimitri, Ian Hogarth, and Michael Thompson.
Numerade was founded to provide the next generation of thinkers with an easy platform to learn and solve problems. Since its launch, Numerade has helped 20 million students struggling with questions ranging from pre-algebra to quantum mechanics, saving them hundreds of millions of hours of frustration, anxiety, and self-doubt. Through a vast library of more than one million handcrafted videos, students are able to watch, listen, and learn difficult concepts and skills through expert explanations from the top 1% of educators.
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In addition to growing its lesson video library, which is already the largest STEM video library online, Numerade will invest in the further development of its proprietary Artificial Intelligence (AI) tutor technology, helping to eliminate the need for private tutors and, thereby, ensuring significant savings for students and families. Overall, the success of the company’s Series A round of funding will work to support millions of students and educators across geographic and socioeconomic borders.
“Our platform is leveling the playing field for the younger generation, as we believe the scientist who will cure cancer tomorrow is studying on Numerade today,” said CEO and founder Nhon Ma. “This funding will allow Numerade to reach millions more students and provide personalized asynchronous lessons and experiences that provide parity to learning. Because Numerade can provide educators from world-class institutions, we democratize access to top-tier quality education at 1/10,000 the cost.”
The already widening opportunity gap between lower- and higher-income students has been significantly exacerbated by COVID and the remote education that followed. By leveraging the world’s largest library of virtual STEM lessons, with more than one million video lessons, Numerade provides students far and wide access to the best educators that learning has to offer. This helps to eliminate the inequity in education by making the world’s most talented educators’ knowledge available at a fraction of the price — working to close the education opportunity gap.