Estonian startup 99math raises $2.1M for its edtech platform
05 July, 2022, 12:23
The Tallinn-based startup 99math has raised $2.1 million of funding to develop its edtech platform that makes learning math fun. Play Ventures led the round, with participation from Flyer One Ventures and Change Ventures, VentureBeat reports.
- Founded in 2019 by Ain Arend, Timo Timmi, and Tõnis Kusmin, 99math works as a platform for game-based math practice. It engages students with multiplayer math games, tournaments, rewards, leveling up, and progress tracking. The platform focuses on math problems from second through eighth grade.
- 99math is free of charge for teachers, but it is monetized through parent subscriptions. According to the company, almost one million kids use the platform. Since the platform launched, they have solved more than 600 million math problems, which is approximately three million per day.
- Play Ventures led the $2.1 million round. It is an early-stage venture capital fund that invests globally in games and game services startups. The Ukrainian Flyer One Ventures and Estonian Change Ventures also joined in the round as the existing shareholders.
“There are 40 million students learning math in the U.S. and around one billion worldwide. The market is huge and definitely needs a tool to keep up with the times and engage students. We are glad to support 99math in their quest to improve the gamified platform and make the learning process more efficient and interesting,”Vital Laptenok, general partner at FlyerOne, comments on the startup.
- Using the fresh funding, 99math plans to add more social features and new game designs, like skill tracking. The company also wants to strengthen its position in the U.S. and Latin markets.