Mathpresso, the Seoul-based edtech company behind QANDA, an AI-based learning app for K-12 students, announced today it has added Google as a new investor.
Google’s undisclosed investment is not part of its Series C raised in June, the company said without providing its valuation.
The additional investment event comes five months after its $50 million Series C, which brought its total funding to $105 million as of June. The company’s previous backers include SoftBank Venture Asia, MiraeAsset Venture Investment, Smilegate Investment, Samsung Venture Investment Corporation and Legend Capital.
Mathpresso expects to create synergies with Google in terms of its global market expansion and technological advancement.
More than 85% of QANDA’s users are outside of Korea, in Japan and Southeast Asia. The Seoul-headquartered startup has offices in Tokyo, Hanoi, Jakarta and Bangkok and offers seven languages: English, Spanish, Korean, Japanese, Thai, Vietnamese and Indonesian.
Mathpresso was founded in 2015 by co-CEO Ray Lee and Jake Lee, who developed QANDA as a 1:1 Q&A service platform. In 2016, Mathpresso launched QANDA, which provides detailed math solutions and personalized learning content catered to each user’s level. QANDA’s AI-based optical character recognition (OCR) technology, added in 2017, recognizes text and mathematical formulas in a photo and enables users to search for answers in seconds.
Approximately 10 million photos are…