Croatian software company Photomath, which is the creator of a math learning app of the same name, said on February 18 it has secured $23mn in a Series B funding round.
The Photomath app has more than 220mn downloads globally, helping students and parents solve maths problems using a smartphone.
US venture capital firm Menlo Ventures led the fundraising round, which also included GSV Ventures, Learn Capital, Cherubic Ventures and Goodwater Capital.
Photomath will use the funds to expand its team, invest in artificial intelligence and machine learning capabilities, as well as to boost product and marketing development.
"With Photomath's mobile-first approach the company is well-positioned to supplant the massive online tutoring market and put high-quality learning support in the hands of students everywhere,” JP Sanday, partner at Menlo Ventures, said in the press release.