Naspers leads funding round for ‘social learning’ network

Peer-to-peer learning community for students, parents and teachers, Brainly, has announced a new funding round of $30 million led by Naspers, with participation from Runa Capital and Manta Ray.

Combined with Brainly’s previous funding rounds, the latest investment brings total funding to date up to $68.5 million.

The current round of funding will be used to enhance Brainly’s user experience and create the next generation of the platform. In addition, the funds will help further expand its user base in the United States, a key market for Brainly, which the company is already successfully monetising, the group said.

The Poland-based startup was founded in 2009 to recreate local student study groups in a global online community and has steadily grown to be a leading EdTech player. With 150 million monthly active users, Brainly reaches students, teachers, and parents across 35 countries. In addition to the US, Brainly’s largest communities are in Russia, Indonesia, India, Turkey, Brazil, and Poland.

Students use Brainly to strengthen their skills across core subjects such as math, history, science, and social studies. The platform allows them to connect with their peers, subject matter experts, and professional educators to discuss their subjects and seek answers to tricky questions.

“Our goal is to extend that access to every one of the 76 million US students and beyond, giving them the resources and the tools to succeed and inspire collaborative learning. This funding allows us to do just that,” said Brainly CEO and co-founder Michał Borkowski

Brainly’s ‘crowdlearning’ model combines online education, social media and machine learning, and is disrupting the $2.6 billion education market on a global level. From 2018 to 2019, Brainly has grown from 100 million active monthly users to 150 million active monthly users.

In 2016 and 2017, Brainly closed $15 million Series B funding and $14 million Series B-1 funding, led by Naspers and Kulczyk Investments, respectively. Previous investors have also included General Catalyst Partners, Point Nine Capital, Runa Capital, and Learn Capital.

Read: Massive R180 million payday for Naspers boss

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Naspers leads funding round for ‘social learning’ network