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Photomath Raises $23 Million In Series B Funding And Aims To Increase Registered Users On Its Platform

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Photomath is a company that provides its users with an amazing app that promotes learning math. Recently, AI-backed photomath raised funding of $23M led by Menlo Ventures, a firm based in Menlo Park, California that focuses on investment in early-stage and growing companies. 

GSV Ventures, a multi-state venture capital firm investing in education-based technology sectors; Learn Capital, a venture capital firm that exclusively focuses on funding enterprises with a better vision and smarter learning; Cherubic Ventures, an early-stage venture focused on investing and management; and Goodwater Capital, an investing form that focuses on consumer technology companies, all participated actively.

The company states that it will use the cash inflows to raise the headcount across its platform by providing new and amazing features to the students and targeting more new students in different countries all over the world.

This simply means that the company is focusing on targeting more and more students as well as other users that want to learn and understand the concepts of math. Apart from this, the company is planning to invest a sufficient amount in developing AI machine learning capabilities. 

About The Photomath App

The photomath app was developed to help students discover and solve math problems. The app is free to use, accessible by the student at any time and anywhere, and acts as a digital tutor, which is available 24 hours a day. The operation of the app is quite simple and so easy that you can access any answer with just one click.

You can just simply scan a problem or numerical question, either handwritten or printed, from your smartphone or any other device. After scanning the question, the app will discover the best and easiest solution for the student and provide a step-by-step guide to solving the problem. It works as an artificial teacher, which makes its students learn math through easy and step-by-step guides.

Apart from this, there is also an amazing feature available to the user. A user can write an equation and use the app to draw a graph accordingly and as per the equation. Moreover, there is also a premium version of this app in which you can access features like animated tutorials and dynamic illustrations.

Photomath is one of the great tech companies and was founded in 2014 by Damir Sabol, a father whose son was always struggling with doing his math homework. His main motive for developing the company is to support children like his son to learn math in an easy way. At present, the Photomath company provides one of the greatest math learning apps, named Photomath.

The company’s main objective is to help each and every student succeed in math by using artificial intelligence and any smart device on which an application can be installed. At present, there are more than 200 million registered users and downloaders of the app who use the app to solve their problems and make math easy.

The company has raised a total of $29 million through investment, and at present, the company’s value ranges between $100 million and $500 million. Apart from this, the company is also looking ahead to launching an online tutorial segment by 2024 that will be valued at up to $132 billion. 

Concluding Remarks 

The Photomath company was founded in 2014 by Damir Sabol and, at present, it provides one of the best and most efficient platforms to learn and understand math. The main motive behind developing the company is to support those students who find a lot of difficulty in solving math problems. At present, the company has raised an investment of $23 million and looks ahead to the development of its platform. 

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