Today I am delighted to announce that Numerade has raised $26 million in Series A funding. This will be used to further democratize STEM education for millions of students worldwide.
We founded Numerade to provide the next generation of students with a better platform to enhance their studies and problem-solving skills. Our goal from day one has been to level the playing field for the younger generation by unlocking and democratizing access to extraordinary educators and the content we have to offer. I believe the scientist who will cure cancer tomorrow is studying on Numerade today.
I want to say a huge thank you to everyone who has helped us get to this point. From the Numerade team, which has worked tirelessly to build a platform to serve our audience, to the educators who have dedicated and committed their time to create exceptional video tutorials, and our loyal base of students who turn to us to help them when it comes to their studies, homework, and exam preparation. And finally to our investors who have believed in our mission from the beginning.
Since our launch we have helped over 20 million students 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 supported by expert explanations from top-notch, passionate educators.
In addition to growing our video library, we will invest in the further development of our proprietary Artificial Intelligence (AI) tutor technology, giving each child the benefit of a personal tutor without paying exorbitant fees. Our funding will ensure significant savings for students and families in their journey to nurture STEM education. The success of our Series A round of funding will work to support millions of students and educators across geographic and socioeconomic borders.
This funding will allow Numerade to reach millions more students, providing personalized asynchronous lessons and experiences in parity with traditional learning. The already widening opportunity gap between lower and higher-income students has been significantly exacerbated by COVID-19 and the remote education which followed. By leveraging the world’s largest library of virtual STEM lessons, with more than one million videos, Numerade provides students far and wide with access to the best educators that learning has to offer. Making the world’s most talented educators’ knowledge available at a fraction of the cost will help us eliminate inequity in STEM fields and democratize access to top-tier education.
Financing. The round 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.
Careers. If you would like to join the team, please check out our open positions here.
Educators. We are always looking to onboard new educators. If you are interested in joining Numerade you can find more information here.
Parents and Students. Click here to check out our FREE STEM Summer Camp sessions taught by top educators. Receive expert guidance to prepare for the exact STEM-related course you are taking in the upcoming school year.
I am really excited about the next chapter for us and thank you all in advance for your continued support.
Nhon Ma, CEO & Co-founder