Brainly Completes $80M Series D Round; to Strengthen Product Portfolio for Students and Parents
New Delhi: The world’s largest online learning platform for students and parents, Brainly, has concluded its Series D funding round with a fresh influx of $80M, thereby bringing its total funding up to $150M. The latest funding round was led by U.S.-based Learn Capital and received participation from Prosus Ventures as well as General Catalyst Partners along with the platform’s existing investors including Runa Capital and MantaRay. Brainly intends to utilize the funds to introduce new products for both Indian students and their parents while also augmenting its business footprint across Brazil and Indonesia, two high-growth markets.
Brainly was launched to drive the digital transition of local study groups into a bustling online community of learners. It has continuously generated sizable traction across the globe and emerged as the world’s leading peer-to-peer learning platform. Today, Brainly has more than 350 million unique users every month, out of which, 55 million are from India. The platform also has large communities spread across the U.S., Russia, Indonesia, Brazil and Latin America amongst others.
The brand’s stellar rise is backed by its intuitive user interface and on-platform experience of students, parents, and teachers. Using Brainly, students can easily resolve their queries in core academic subjects including Mathematics, Science, Social Studies, and languages such as Hindi, English and others. A Brainly survey revealed that about one-third of the students’ parents also used online help while teaching their children. Another survey also revealed that 55% of Indian students enjoyed virtual classes during the nationwide lockdown.
“We recognized that students require a peer-to-peer learning platform. The growth of this model has accelerated as a result of the global pandemic, forever changing the way students learn. Today, Brainly is the de facto resource for students and parents seeking help with homework from their peers and experts,” said Michał Borkowski, CEO and co-founder of Brainly. “While Brainly has demonstrated a high rate of growth for years, over the past six months, we have achieved growth milestones that we had projected to hit over the next few years. We receive immensely positive feedback from students, parents, and teachers using Brainly, so there are no signs of this growth slowing down anytime soon.”
“Brainly has become one of the world’s largest learning communities, achieving significant organic growth in over 35 countries,” said Vinit Sukhija, Partner at Learn Capital. “This growth is a testament to the strength of the community and a user experience that enables students and families to succeed given their varied learning needs. Learn Capital is excited to support the Brainly team as it executes on an ambitious product roadmap en route to becoming a household name, both in the United States and around the world.”
Brainly was established to directly support students and their parents, as opposed to most educational technology (EdTech) companies that have built solutions to serve middle school and high school students which cater to educational institutions. Validating its differentiated approach, Brainly’s user base has increased organically by more than 75% since April 2020. In 2019, Brainly concluded its Series C round led by Prosus (Naspers) with a total capital influx of $30 million. With optimum utilization of funds, Brainly has truly become a force to reckon within the global EdTech space as a one-stop platform for peer-to-peer learning.