QANDA(Mathpresso) Funding, Investors & Competitors

QANDA(Mathpresso) has raised $112M across 6 funding rounds, most recently a $8M strategic investment round in September 2023.

Last QANDA(Mathpresso) funding round

$8M

Strategic investment · Sep 2023

Cumulative funding QANDA(Mathpresso) raised

$112M

across 6 funding rounds

Key investors in QANDA(Mathpresso)

  • Mirae Asset Venture Investment
  • Legend Capital
  • SBVA
  • Smilegate Investment
  • JB Investment
  • Goodwater Capital
  • GGV Capital
  • Samsung Ventures

QANDA(Mathpresso) Overview

About QANDA(Mathpresso)

QANDA, operated by Mathpresso, is an AI-driven learning app providing instant photo-based math solutions and personalized study plans to 40 million users worldwide. Seoul-headquartered since 2015, it expanded to Japan, Vietnam, Indonesia, and Thailand with offices in Tokyo and Hanoi. The platform raised $105 million from SoftBank Ventures Asia and GGV Capital, earning spots in GSV 150 EdTech and Google AI for Social Good. QANDA tutors connect students via live video, covering K-12 subjects in eight languages.


Founded

2015

HQ

South KoreaSeoul

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

QANDA(Mathpresso) Funding History

QANDA(Mathpresso) has raised a total of $112M across 6 funding rounds.

QANDA(Mathpresso)'s first fundraising round was a $1M seed round in September 2017. The most recent completed round was a $8M strategic investment round in September 2023.

QANDA(Mathpresso) funding rounds

QANDA(Mathpresso) funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2023Strategic investmentKT (lead)$8MMathpresso, the operator of QANDA, secured an $8 million investment from KT Corporation in September 2023, bringing cumulative funding to approximately $130 million. The company's flagship app QANDA is an AI-powered learning platform that uses optical character recognition technology to analyze photos of math and science problems and provide solutions with personalized learning content. QANDA has amassed over 80 million registered users across more than 50 countries, with 10 million monthly active users and approximately 10 million photos uploaded daily. The investment was structured as a strategic partnership to accelerate development of an education-specific Large Language Model. Mathpresso planned to combine its proprietary data assets—including over 6 billion user solution searches, teacher-student interaction data, advanced OCR, and proprietary math-solving algorithms—with KT's infrastructure and model expertise to build a more accurate and robust LLM for educational use. The company intended to integrate this technology into its AI tutor across multiple platforms, including the QANDA app, QANDA Study (an online school service), and QANDA Tutor (a 1:1 tutoring service), and had plans to expand into the U.S. market by year-end 2023.
Jun 2021Series CGGV Capital (lead); Goodwater Capital (lead); KDB Capital (lead); SKS PE (lead); YellowDog (lead); Smilegate Investment; SBVA; Mirae Asset Venture Investment; Legend Capital$50MMathpresso, the Seoul-based developer of the AI-powered K-12 learning app QANDA, raised $50 million in its Series C funding round in late June 2021, announced on July 1, 2021, bringing total funding to $105 million. The round included new investors Yellowdog, GGV Capital, Goodwater Capital, KDB Capital, and SKS Private Equity, as well as follow-on investments from SoftBank Ventures Asia (SBVA), Legend Capital, Mirae Asset Venture Investment, and Smilegate Investment. QANDA uses optical character recognition (OCR) technology to scan math problems and provide instant solutions, supporting multiple languages including Korean, English, Japanese, Vietnamese, Indonesian, and Thai. At the time of the Series C, QANDA had over 9.8 million monthly active users across more than 50 countries, with over 80% of users outside Korea, particularly in Japan, Vietnam, Indonesia, and Thailand—a fivefold increase since 2020. The app had accumulated significant user-generated data, enabling personalized learning content. Mathpresso planned to use the funds to enhance AI recommendation algorithms and develop localized content for markets like Indonesia and Thailand, where it had recently opened offices alongside existing ones in Tokyo, Hanoi, Jakarta, and Bangkok. Founded in 2015 by co-CEOs Ray Lee and Jake Lee, Mathpresso initially offered a 1:1 Q&A service before pivoting to AI-driven OCR in 2017, which drove rapid growth amid the COVID-19 shift to online learning. The company expanded into complementary products like QANDA Study for live classes, QANDA Tutor for one-on-one sessions, and offline initiatives such as workbooks and study centers in Vietnam.
May 2020Undisclosed stage-$35M-
Jul 2019Series BLegend Capital (lead); Kejora Capital; Mirae Asset Venture Investment; InterVest Co.$13M-
Jun 2018Series ASmilegate Investment; SBVA; Samsung Ventures; Mirae Asset Venture Investment; JB Investment$6M-
Sep 2017SeedJB Investment; MegaStudyEdu$1M-

Who has invested in QANDA(Mathpresso)?

15 investors have backed QANDA(Mathpresso) across its funding rounds, including Mirae Asset Venture Investment, Legend Capital, SBVA, Smilegate Investment, JB Investment and Goodwater Capital.

Lead investors include KT, GGV Capital, Goodwater Capital, KDB Capital, SKS PE and 2 other investors.


QANDA(Mathpresso) Investors

Investors in QANDA(Mathpresso) by funding rounds participated
InvestorHQRoundsRoleFirst check
Mirae Asset Venture InvestmentSouth KoreaSeongnam3ParticipantJun 2018
Smilegate InvestmentSouth KoreaSeongnam2ParticipantJun 2018
SBVASouth KoreaSeoul2ParticipantJun 2018
Legend CapitalChinaBeijing2LeadJul 2019
JB InvestmentSouth KoreaSeoul2ParticipantSep 2017
KDB CapitalSouth KoreaSeoul1LeadJun 2021
Kejora CapitalIndonesiaJakarta1ParticipantJul 2019
SKS PESouth KoreaSeoul1LeadJun 2021
Samsung VenturesSouth KoreaSouth Korea1ParticipantJun 2018
YellowDogSouth KoreaSeoul1LeadJun 2021
Goodwater CapitalUnited StatesSan Francisco, CA1LeadJun 2021
InterVest Co.South KoreaSeoul1ParticipantJul 2019
GGV CapitalUnited StatesSan Francisco, CA1LeadJun 2021

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QANDA(Mathpresso) Competitors

QANDA(Mathpresso) competitors include listed companies like Stride, East Buy and Alef Education, and private ones like Zuoyebang, VIPKID and Articulate.

Public and private companies comparable to QANDA(Mathpresso)
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ZuoyebangChinaBeijingPrivate$33M-$10B-
VIPKIDChinaBeijingPrivate$750M-$4.5B-
ArticulateUnited StatesNew York City, NYPrivate--$3.8B-
StrideUnited StatesUnited StatesPublicly listed$2.5B$580M$3.4B1.2x
East BuyChinaChinaPublicly listed$850M$98M$3.4B2.8x
Alef EducationUAEUAEPublicly listed$210M$150M$1.9B7.8x

QANDA(Mathpresso) Public Comps

QANDA(Mathpresso) is still privately-owned, but its public comps include CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Datadog, Moody's, Nebius Group and Workday.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CrowdStrike$4.8B($12M)51.4x44.5x(19816.2x)151.0x
SAP$42B$13B5.8x5.4x18.4x17.1x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x
Snowflake$4.7B($1.3B)25.6x21.0x(94.1x)121.7x
Adobe$24B$9.3B4.3x3.9x10.9x8.2x
Datadog$3.4B($588K)23.6x19.4x(137813.0x)77.6x
Moody's$7.7B$3.8B11.2x10.6x22.5x20.1x

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Common questions about QANDA(Mathpresso)

When was QANDA(Mathpresso) founded?QANDA(Mathpresso) was founded in 2015.
Where is QANDA(Mathpresso) headquartered?QANDA(Mathpresso) is headquartered in Seoul, South Korea.
Is QANDA(Mathpresso) publicly listed?No, QANDA(Mathpresso) is a private, VC-backed company.
How much funding has QANDA(Mathpresso) raised?QANDA(Mathpresso) has raised $112M across 6 funding rounds.
What was QANDA(Mathpresso)'s last funding round?QANDA(Mathpresso)'s last funding round was a $8M strategic investment round in September 2023, led by KT.
Who are QANDA(Mathpresso)'s investors?QANDA(Mathpresso)'s investors include Mirae Asset Venture Investment, Smilegate Investment, SBVA, Legend Capital, JB Investment, KDB Capital, Kejora Capital, SKS PE, Samsung Ventures, YellowDog and 5 others.
Which companies are comparable to QANDA(Mathpresso)?Companies comparable to QANDA(Mathpresso) include Zuoyebang, VIPKID, Articulate, Stride, East Buy and Alef Education.

See companies similar to QANDA(Mathpresso)

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