Matific Valuation, Funding & Investors
Matific is valued at $800M as of July 2016.
Last Matific valuation
$800M
Series B · Jul 2016
Last Matific funding round
$45M
Series B · Jul 2016
Cumulative funding Matific raised
$115M
across 5 funding rounds
Key investors in Matific
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>)
Leon Kamenev- Benny Schnaider
- Roni Einav
About Matific
Matific is a Sydney-headquartered edtech company offering an adaptive math learning platform for students aged 4 to 15 in over 100 countries. The platform delivers modular, spiral curriculum through interactive episodes on tablets and computers, aligned with curricula in the United States, United Kingdom, Australia, and others. Matific has earned awards from CODiE, EdTech Digest, and Academics' Choice, integrating with classroom tools like Google Classroom.
Founded
2012
HQ
SydneyWebsite
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Subscription
Valuation
$800M (Jul 2016)
Matific Valuation
Matific is currently valued at $800M, based on its Series B in July 2016.
The $45M round was led by Leon Kamenev.
Matific valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2016 | Series B | $800M |
Matific Funding History
Matific has raised a total of $115M across 5 funding rounds.
Matific's first fundraising round was a $1M angel round in March 2013. The most recent completed round was a $45M Series B in July 2016.
Matific funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2016 | Series B | Leon Kamenev (lead) | $45M | $800M | Matific, operating under SlateScience, is an Israeli edtech company founded in 2012 by Prof. Raz Kupferman, Prof. Shimon Shocken, Shmulik London, and Guy Vardi, developing interactive math and science games for kindergarten and elementary school children using machine learning, data mining, and automatic content generation. The platform offers over 1000 games and activities mapped to curricula in over 20 countries and languages, with school products for teachers to assign customized tasks and home products, providing affordable or free access in underserved areas. Products are sold globally with sales offices in the US, Australia, Canada, South America, UK, and South Africa, and R&D based in Israel. On July 27-29, 2016, Matific raised a $45 million Series B round led by Australian entrepreneur Leon Kamenev, a co-founder, director, and returning investor from the prior $12-20 million Series A, bringing total funding to $58 million. The single-investor round funds expansion of the Israeli R&D center, global sales team, hiring, and growth opportunities to revolutionize education, including potential expansion into science and coding using their graphic engine. Traction includes successful integration into hundreds of schools worldwide in the past year, significant growth in students and teachers, market feedback as the #1 math solution, strong team, solid infrastructure, and advanced machine learning for personalized recommendations based on student mistakes, positioning it competitively in the fragmented education market. |
| Jul 2016 | Series B | Leon Kamenev (lead) | $45M | - | Matific, operating under SlateScience, is an Israeli edtech company founded in 2012 by Prof. Raz Kupferman, Prof. Shimon Shocken, Shmulik London, and Guy Vardi, developing interactive math and science games for kindergarten and elementary school children using machine learning, data mining, and automatic content generation. The platform offers over 1000 games and activities mapped to school curricula in over 20 countries and 20 languages, with products for schools (customized assignments) and home use, providing affordable or free access in underserved areas. By mid-2016, it had integrated into hundreds of schools worldwide and received strong market feedback as the top math solution, with significant growth in students and teachers. On July 27, 2016, Matific raised a $45 million Series B round led by Australian entrepreneur Leon Kamenev, a co-founder, director, and returning investor from the prior $12-20 million Series A (sources vary), bringing total funding to $58 million. Kamenev, founder of HotelClub and Menulog, increased his stake due to the need for superior math education tools. The funds were allocated to expand the Israeli R&D center, grow the global sales team, hire staff, and enhance content including science and coding via their proprietary graphic engine and machine learning for personalized recommendations based on student errors. Sales offices operated in the US, Australia, Canada, South America, UK, and South Africa, with R&D and global operations based in Israel. |
| Jan 2015 | Series A | - | $12M | - | On January 15, 2015, Slate Science, the developer of Matific, raised $12 million in a Series A funding round led by existing angel investors. Matific is a K-6 educational platform providing math activities and games for students in classroom and home settings, available via browser and mobile apps. As of January 2015, the platform was used by over 15,000 teachers, approximately 10,000 in the US, with a freemium model offering school-based free access and premium home subscriptions at $36 per year. The funding was intended to support international expansion into South America and Asia, with Matific then operating in 20 countries across seven languages. The company also planned to develop deeper curriculum integration capabilities as it scaled to additional regions and classrooms. |
| Jan 2015 | Series A | - | $12M | - | Matific, developed by New York-based Slate Science, raised $12 million in a Series A round on January 15, 2015, led by existing angel investors including Benny Schnaider, Roni Einav, and Leon Kamenev. The company provides K-6 math activities and games accessible via browser and apps for iPhone, iPad, Android, and tablets, used in classrooms and at home. As of January 2015, over 15,000 teachers used Matific, with about 10,000 in the US; it was free for teachers in schools, with premium options at $10 per student per year for extended school use and $36 per year for parents. The funding supported international expansion into South America and Asia, where Matific already operated in 20 countries and seven languages. Plans included better integration with school curricula. Matific was founded in 2012 by experts including Prof. Raz Kupferman and Prof. Shimon Shocken, with R&D and operations later based in Israel and sales offices worldwide. |
| Mar 2013 | Angel | Benny Schnaider; Leon Kamenev; Roni Einav | $1M | - | - |
Who has invested in Matific?
3 investors have backed Matific across its funding rounds, including Leon Kamenev, Benny Schnaider and Roni Einav.
Lead investors include Leon Kamenev.
Matific Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Leon Kamenev | Sydney | 3 | Lead | Mar 2013 |
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Start Free TrialMatific Competitors
Matific competitors include listed companies like Jiangsu Chuanzhiboke, Gaotu Techedu and Coursera, and private ones like Ruangguru, Knowbox and Codemao.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Jakarta | Private | - | - | $830M | - | |
 Beijing | Private | - | - | $1B | - | |
| China | Publicly listed | $57M | ($7M) | $540M | 6.3x | |
| China | Publicly listed | $917M | ($38M) | $503M | 0.2x | |
| Shenzhen | Private | $17M | - | $495M | - | |
 United States | Publicly listed | $758M | ($49M) | $1.4B | 0.3x |
Matific Public Comps
Matific is still privately-owned, but its public comps include Lincoln Educational Services, American Public Education, Taaleem Holdings, Stadio Holdings, Cogna Educação, China Education, Scholastic, Phoenix Education, Docebo and AcadeMedia.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $518M | $49M | 1.9x | 1.7x | 20.4x | 13.3x | |||
| $649M | $64M | 1.1x | 1.1x | 11.6x | 7.8x | |||
| $295M | $84M | 4.4x | 3.6x | 15.4x | 14.3x | |||
| $113M | $34M | 6.4x | 5.8x | 21.3x | 19.2x | |||
| $1.4B | $455M | 1.4x | 1.3x | 4.3x | 4.2x | |||
| $1.1B | $342M | 1.6x | 1.6x | 5.1x | 3.1x | |||
| $1.6B | $180M | 0.6x | 0.6x | 5.0x | 6.1x | |||
| $1B | $194M | 0.8x | 0.8x | 4.1x | 3.2x | |||
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Common questions about Matific
| When was Matific founded? | Matific was founded in 2012. |
| Where is Matific headquartered? | Matific is headquartered in Sydney, Australia. |
| Is Matific publicly listed? | No, Matific is a private, VC-backed company. |
| What is Matific's valuation? | Matific was last valued at $800M in its Series B in July 2016. |
| How much funding has Matific raised? | Matific has raised $115M across 5 funding rounds. |
| What was Matific's last funding round? | Matific's last funding round was a $45M Series B in July 2016, led by Leon Kamenev. |
| Who are Matific's investors? | Matific's investors include Leon Kamenev, Benny Schnaider and Roni Einav. |
| Which companies are comparable to Matific? | Companies comparable to Matific include Ruangguru, Knowbox, Jiangsu Chuanzhiboke, Gaotu Techedu, Codemao and Coursera. |
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