The global company aims to expand its global presence to more than 100 countries by the financial year 2023
United Arab Emirates QMath, the global maths education platform and education technology company, has announced that it has raised $ 57 million in a new round of funding led by Alpha Wave, more than doubling its $ 407 million valuation from the previous round of funding. The company aims to use the funds to enhance its global presence and growth, invest in acquisitions and partnerships, strengthen its position in existing markets and build a strong global brand.
QMath, which currently operates in more than 70 countries around the world, aims to expand to more than 100 countries by the 2023 financial year, including strengthening its presence in North America, Asia-Pacific, the United Kingdom, Europe and the Middle East, and countries in Africa and South America.
Commenting on the topic, Qmath CEO Vivek Sundar said: “The latest round of funding is currently an important milestone as rationalization has become the dominant trend in the market, making valuations more realistic now that only growth companies that Met strongly business principles, venture capital and subsequent rounds of funding, the strong interest of our investors confirms our strong global growth and our in-depth understanding of the post-secondary mathematics market, and marks the beginning of a new phase of our development. In the future, it will be impactful and efficient, and does not require the use of large capital.We will continue to strive to provide high quality educational resources in line with our mission to establish our position as one of the world’s leading companies in to establish mathematics education, which is a symbol of confidence, expertise and modernity in the world. “
“Qmath has also shown promising growth since the last round of funding, and has expanded globally while maintaining capital efficiency through product innovation and privacy, as well as a low-cost capital model. The company’s remarkable focus on student outcomes and significant changes in its offering have led to increased referrals, as it has the best-in-class retention rates. ”
Manan Korma, founder and chairman of Qeomath, said: “What sets Qeomath apart from any other educational technology company is that we are all focused on a single goal: learning outcomes in math. In every Qeomath digital class, students experience an intense learning experience. A personal and blend of visual math curriculum delivered by highly qualified teachers at the highest academic levels, this has enabled Qemath to have one of the best retention rates in the industry at 80% and we are proud that the half of our Qeomath programs are referrals. These figures and readings drive All investors in this sector can trust QMath, which guarantees them the highest standards and the best return on their investment.
Qeomath’s latest round of funding is a positive change in the sector, not only in terms of investment volume, but also in investor participation. Led by Alpha Wave, this funding includes all existing investors, including Lightrock India, Sequoia Capital India, Capital G, Manta Ray and Unitos.
Anirudh Singh, Managing Director of Alpha Wave Global, said: “Q-Math has a remarkable potential to deliver high-level educational outcomes through its technology platform and world-class teaching methods. The company stands out in the competitive educational technology market with its market success. Leading international organizations such as the Middle East, USA, UK and India, while maintaining a high quality modular economy, has fueled a pool of knowledgeable and qualified teachers and a global need to focus on mathematics teaching. excited to lead this investment, especially with the improvement of QMath’s position in global markets.
Divya Venkatavaragavan, an investor in Lightrock India, said: “Manan Korma, Vivek Sundar and the Qeomath team have delivered a product centered around student needs and the demands of the future of work and focused on learning outcomes. It has the boosted survey by QMATH in 70 countries and its efforts to build a model of engagement centered around Parents, we are confident in the capabilities of her team, so we’re glad to support him in growing in the to reach the next stage. “
Surya Mantha, an investor in Unitus Ventures, said: “We are pleased with the great progress the company has made in all areas related to products, global expansion and human talent. The company has all the ingredients for strong and sustainable growth, and is on track to become a recognized global brand in education. We are pleased to renew our confidence in the company and work with a group of prominent global investors. “
QMath’s vision is to become the world’s leading mathematics education platform, and its mission is to build a generation of groundbreaking solution innovators. Based on this, the company has designed its program to promote mathematical and innovative thinking among students, as the curriculum provides real-life examples to ensure that the child applies mathematical thinking in real life.
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