Polish ed-tech startup Brainly, a startup which uses crowdsourcing to gather information has announced securing a $30 million as part of Venture round led by South Africa conglomerate Naspers. The round saw participation from Runa Capital and Manta Ray.
The last investment for the 10-year old company came in October 2017 from local investment firm Kulczyk Investments which led the $14 million round. The current funding takes the total amount secured by the firm to $68.5 million. General Catalyst and Point Nine Capital are few of the other big names who have invested in the firm.
Founded in 2009 by Lukasz Haluch, Michał Borkowski, and Tomasz Kraus, Brainly acts as a knowledge-sharing community where students and teachers combine to solve problems. The students can connect to others just like on any other social media platform and engage in learning new things.
The freshly raised funding will go towards the growing markets like India and Indonesia. Notably, unlike a number of startups operating in the ed-tech domain who opt to offer the platform only in English, Brainly is offering the solutions in a number of languages like Polish, Russian, Spanish and other Asian languages. And, that gives the firm an edge over the other competitors.
Michał Borkowski talking about Brainly said, “Every student struggles with schoolwork at some point. But never before has there been such widespread access and opportunity for students to learn from one another. Our goal is to extend that access to every one of the 76 million U.S. students and beyond, giving them the resources and the tools to succeed and inspire collaborative learning. This funding allows us to do just that.”
Naspers Ventures CEO Larry Illg commenting on the funding noted that “We have been impressed by Brainly’s growth over the past 10 years, particularly in the U.S. and high-growth markets like India, Indonesia, Turkey, and Brazil. At Naspers, we back companies seeking to address big societal needs, like education, helping them fulfill their vision with the ultimate aim of achieving global scale.”
Image Courtesy : edu4.me