The online learning platform Course Hero acquires Symbolab, which describes itself as a "pioneering developer of AI for mathematics education". Course Hero is making a rare acquisition in the sector as M&A s still uncommon the EdTech sector. The price of the deal was undisclosed.
The Symbolab has a nine-person team in Tel Aviv and was founded in 2011 by mathematicians and computer scientists. It is the most visited website of mathematics in the world, according to Similarweb.
Symbolab says it "has been used by over 50 million students to work through and understand one billion questions in 2020 alone."
It is the first strategic acquisition of Course Hero, which gained the unicorn status after its $80 million Series B fundraise. The California-based company crossed the $100-million mark in revenue in 2019.
Course Hero will now compete with:
- Wolfrom Alpha, a computational engine ;
- Socratic (acquired by Google last year)
- Microsoft Solver (created in 2019)
Make Mathematics Accessible
"College-level math is among the most challenging subjects for students, but it's also one of the most important gateways to college success. This is about complementing great teaching by providing students with another way to ask and answer questions, practice, and master critical concepts," said Andrew Grauer, co-founder and CEO of Course Hero. "The Symbolab team is tightly aligned with our culture and values. They share our primary mission to provide access and equity to all students, helping them graduate, confident and prepared."
"We are constantly exploring innovative ways to make mathematics accessible for students, reducing anxiety and equipping them with the understanding they need to persist at the next level," said Michal Avny, co-founder and CEO of Symbolab. "By joining forces with Course Hero, our technology solutions will give many millions of students the confidence they need for broader educational success."
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