Brainly Gets $15 Million in Funding

NicoleMotta - May 12, 2016 - 12:35 PM

Brainly Gets $15 Million in Funding

Polish startup Brainly offers a place where "being smart is cool," and now, they've raised $15 million in funding.

(CCM) — South African-based company Naspers announced on Wednesday that it has led a $15 million investment round into the social learning network, marking its first corporate investment into the Education Technology market. Currently, Brainly boasts over 60 million unique monthly users, more than 1000 moderators, and is used in over 35 countries across 12 different languages. "Improving education delivery is a huge focus in every region around the globe, and Brainly has identified a way that technology can help drive educational impact beyond the traditional classroom model. What is more, they have already proven their business works across geographies, and we aim to accelerate their growth and impact worldwide," said Bob van Dijk, CEO of Naspers. Brainly's CEO Michal Borkowski added, "We are convinced that our partnership with Naspers will allow us to accelerate this exciting growth globally, and double down on our focus in the United States."

Also on Wednesday, Naspers announced the opening of a San Francisco office. "Naspers is looking to the U.S. market as an additional source for innovative platforms with global growth potential, given its prime track record for technology innovation," explained Naspers in a press release. This new branch, called Naspers Ventures, is just a small office of 15 support staff for now, but the unit has already made some investments. Last fall, Naspers invested $100 million in LetGo, a mobile-only classifieds side which was founded by Alex Oxenford, also known for founding OLX. This week, reports surfaced that suggested LetGo and Wallapop may be contemplating a merger to expand their U.S. presence.

Photo: © iStock.
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