Croatian Photomath raises $23 million, going beyond 220 mil downloads

Photomath, the popular mobile app that helps you solve math equations, has raised a $23 million Series B funding round led by Menlo Ventures. The app is a massive consumer success and one of the most popular apps within its category, and chances are you might already know about it!

GSV Ventures, Learn Capital, Cherubic Ventures and Goodwater Capital are also participating in today’s funding round.

The app lets you use the camera of your smartphone towards the math problem and it recognizes what’s written and gives you a step-by-step explanation to solve the problem. While some think this is great for lazy students, there are different use cases. For example, Photomath can draw a graph from the equation that you write in your notebook.

Photomath is basically an AR Calculator while bridging the gap between the physical world and the smartphone.

Exponential Growth during the Pandemic

One of the reasons for three times the number of downloads during a pandemic is that parents around the world have helped children even more in solving math problems. Photomath recently surveyed over 2,000 parents and found that 56 percent of parents cannot help their children with these tasks and therefore downloaded the app.

Photomath transforms the way you learn math and helps you overcome the obstacles associated with instruction and distance learning. With this latest investment, Photomath will continue to provide a much-needed bridge between virtual learning and an interactive approach to problem-solving, to provide equal opportunities for all students.

Photomath is a free application that bases its business model on a paid add-on – Photomath Plus.

The free version still provides a lot, but the subscription opens up access to more advanced app features. These are primarily animated tutorials that provide a new dimension of learning and allow an in-depth understanding of mathematical procedures and concepts through animated content that is fully software generated.

Photomath has a web content creation platform too, which will support up to 10,000 content creators.

Photomath is another success story coming from the Croatian start-up scene, which has been seeing a lot of attention in the past couple of months, for which we’ve reported in various articles.

Originally we wrote about Photomath in 2016, during the EBAN Winter University Zagreb 2016, where Photomath was present with Damir Sabol and spoke about how to scale-up globally.