Simply Valuation, Funding & Investors

Simply is valued at $1B as of June 2021.

Last Simply valuation

$1B

Series D · Jun 2021

Last Simply funding round

$50M

Series D · Jun 2021

Cumulative funding Simply raised

$92M

across 5 funding rounds

Key investors in Simply

  • Genesis Partners
  • Insight Partners
  • Aleph
  • Jeremy Stoppelman
  • GV
  • Founder Collective

Simply Overview

About Simply

Simply is a mobile app developer focused on music learning applications. San Francisco-headquartered and launched in 2015 by JoyTunes, it offers Simply Piano, Simply Guitar, and Simply Sing, which together attract over one million monthly downloads and hundreds of thousands of daily active users globally. The apps use gamified lessons with real-time feedback via device microphones, serving beginners to advanced learners. Acquired by Yousician in 2021, Simply expands into broader creative hobby subscriptions.


Founded

2011

HQ

IsraelTel Aviv

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Valuation

$1B (Jun 2021)

Simply Valuation

Simply is currently valued at $1B, based on its Series D in June 2021.

The $50M round was led by GV, with participation from Qualcomm and Hearst Ventures.

Simply valuation by funding round

Simply valuation by funding round
DateStageValuation
Jun 2021Series D$1B

Simply Funding History

Simply has raised a total of $92M across 5 funding rounds.

Simply's first fundraising round was a $2M seed round in May 2013. The most recent completed round was a $50M Series D in June 2021.

Simply funding rounds

Simply funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2021Series DGV (lead); Qualcomm; Hearst Ventures$50M$1B-
Aug 2019Series CQumra Capital (lead); Jeremy Stoppelman; Aleph; Insight Partners$25M-JoyTunes, operating under the Simply brand with products like Simply Piano and Simply Guitar, is an Israeli music education startup that develops apps for learning musical instruments. On August 27, 2019, it raised $25 million in a funding round led by Qumra Capital, with participation from existing investors Insight Partners, Aleph, Jeremy Stoppelman (Yelp CEO), Kaedan Capital, Founder Collective, Zohar Gilon, and others. This brought the company's total funding to $43 million. Qumra's Sivan Shamri Dahan joined the board post-investment. The funds were allocated to fuel expansion, including development of new products and technology in musical education. CEO Yuval Kaminka highlighted significant achievements in technology, product, and marketing since the prior round, with the company doubling its growth rate and serving hundreds of thousands of paying subscribers. JoyTunes positioned itself as a leader in self-learning music education, disrupting the traditional market with advanced technology and online capabilities. Later in 2019, JoyTunes raised an additional $50 million from Google Ventures (GV), Qualcomm Ventures, and Hearst Ventures, reportedly achieving a $1 billion valuation and unicorn status. The company claims over 1 million weekly learners.
Jun 2018Series BGenesis Partners (lead); Insight Partners (lead); Jeremy Stoppelman$10M--
Aug 2014Series AAleph (lead); Formation 8; Genesis Partners$5M-Simply raised $5 million in a Series A funding round in August 2014, led by Aleph with participation from Formation 8 and Genesis Partners. The company has raised a total of $97 million in venture capital funding to date, with early rounds including $7 million from angel investors and seed VCs. Angel investors included Dana Messina, former CEO of Steinway Musical Instruments. Later rounds in 2019 included $25 million led by Qumra Capital and $50 million from Google Ventures, Qualcomm Ventures, and Hearst Ventures.
May 2013SeedGenesis Partners (lead); Eran Shir; Zohar Gilon; Founder Collective; Dana Messina; Kaedan Capital$2M--

Who has invested in Simply?

14 investors have backed Simply across its funding rounds, including Genesis Partners, Insight Partners, Aleph, Jeremy Stoppelman, GV and Founder Collective.

Lead investors include GV, Qumra Capital, Genesis Partners, Insight Partners and Aleph.


Simply Investors

Investors in Simply by funding rounds participated
InvestorHQRoundsRoleFirst check
Genesis PartnersUnited StatesBridgeport, CT3LeadMay 2013
Jeremy StoppelmanUnited StatesSan Francisco, CA2ParticipantJun 2018
AlephIsraelIsrael2LeadAug 2014
Insight PartnersUnited StatesNew York City, NY2LeadJun 2018
QualcommUnited StatesSan Jose, CA1ParticipantJun 2021
GVUnited StatesSan Francisco, CA1LeadJun 2021
Eran ShirIsraelTel Aviv1ParticipantMay 2013
Hearst VenturesUnited StatesNew York City, NY1ParticipantJun 2021
Formation 8United StatesUnited States1ParticipantAug 2014
Zohar GilonIsraelIsrael1ParticipantMay 2013
Founder CollectiveUnited StatesUnited States1ParticipantMay 2013
Qumra CapitalIsraelTel Aviv1LeadAug 2019

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Simply Competitors

Simply competitors include listed companies like American Public Education and Coursera, and private ones like Character.ai, Huikedu Group, Hujiang Education Technologies and Knowbox.

Public and private companies comparable to Simply
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Character.aiUnited StatesSan Francisco, CAPrivate$30M-$1B33.3x
Huikedu GroupChinaBeijingPrivate--$1B-
Hujiang Education TechnologiesChinaShanghaiPrivate$80M-$1B12.5x
KnowboxChinaBeijingPrivate--$1B-
American Public EducationUnited StatesUnited StatesPublicly listed$649M$64M$811M1.1x
CourseraUnited StatesUnited StatesPublicly listed$758M($49M)$1.4B0.3x

Simply Public Comps

Simply is still privately-owned, but its public comps include Saregama India, JYP Entertainment, Tips Music, American Public Education, Afya, SM Entertainment, Coursera, Reservoir Media, YG Entertainment and Docebo.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Saregama India$100M$36M9.7x8.6x26.8x24.6x
JYP Entertainment$598M$175M1.1x1.1x3.8x5.4x
Tips Music$39M$30M21.7x19.3x28.5x27.5x
American Public Education$649M$64M1.1x1.1x11.6x7.8x
Afya$719M$289M2.3x2.2x5.6x5.0x
SM Entertainment$855M$311M1.5x1.5x4.1x7.3x
Coursera$758M($49M)0.5x0.3x(7.7x)2.7x
Reservoir Media$176M$68M6.1x5.9x15.7x14.2x

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Common questions about Simply

When was Simply founded?Simply was founded in 2011.
Where is Simply headquartered?Simply is headquartered in Tel Aviv, Israel.
Is Simply publicly listed?No, Simply is a private, VC-backed company.
What is Simply's valuation?Simply was last valued at $1B in its Series D in June 2021.
How much funding has Simply raised?Simply has raised $92M across 5 funding rounds.
What was Simply's last funding round?Simply's last funding round was a $50M Series D in June 2021, led by GV.
Who are Simply's investors?Simply's investors include Genesis Partners, Jeremy Stoppelman, Aleph, Insight Partners, Qualcomm, GV, Eran Shir, Hearst Ventures, Formation 8, Zohar Gilon and 4 others.
Which companies are comparable to Simply?Companies comparable to Simply include Character.ai, Huikedu Group, Hujiang Education Technologies, Knowbox, American Public Education and Coursera.

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