Peer-to-peer learning community Brainly announced last week that it has raised $30 million in Series C funding. The company, whose platform connects students, parents and teachers, has secured a total of $68.5 million. This latest round was led by Naspers, with participation from Runa Capital and Manta Ray.
Brainly plans to use this funding to improve the platform’s user experience and the quality of services provided to students and parents. The Poland-based edtech startup plans to aggressively expand its user base in the United States, a market in which the company is already finding success.
"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."
"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," said Brainly CEO and Co-Founder Michał Borkowski, in a statement. "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."
Founded in 2009 as a digital global counterpart to local study groups, the company has gone on to reach students, teachers and parents across 35 countries with 150 million monthly unique users turning to the platform to discuss subjects such as math, history, science and social studies. Core markets include Russia, Indonesia, India, Turkey, Brazil and Poland in addition to the U.S.
"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," said Larry Illg, CEO of Naspers Ventures, in a statement. "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. Brainly has the potential to serve the needs of hundreds of millions of students around the world and Michal and the team are building an invaluable service for learners everywhere."
In addition to Naspers and Kulczyk Investments, previous investors have included General Catalyst Partners, Point Nine Capital, Runa Capital and Learn Capital.
