Brainly funding

Homework Help Network Brainly raises €9 million Series A

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Polish startup Brainly which runs several localized social networks for students centered around homework help, has raised a €9 million Series A from General Catalyst Partners with participation from both existing and new investors Point Nine Capital, Learn Capital and Runa Capital. Adam Valkin and Nitesh Banta from GCP will join Brainly’s board of directors.

Founded in 2009 Brainly has spread from its home base in Krakow, Poland, over Eastern Europe to South America and Asia most recently. The new funding will be used to grow Brainly’s user base in the U.S. market, build a local team over there and to focus on (new) features.

With its numerous localized versions of Brainly in 35 countries and 12 languages, the startup was able to more than double its users in the past year. Each month, more than 30 million students, most of them attend middle and high school, come on the site to seek help with their homework and help other students who are stuck with theirs. According to Nitesh Banta Brainly’s success is based on

“… taking a common offline behavior – homework help and collaboration – and moving it online, achieving all the efficiencies and benefits we see in other industries and democratizing access to after-school learning.”

Brainly is currently available for free and the startup remains focused on scale for the moment. Potential business models down the line may include advertisements, premium features or selling related products and services to its user base.

Brainly previously raised a $500.000 seed round from Point Nine Capital and a group of angel investors in September 2012.

Links

brainly.com

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Kay Alexander

Managing Editor at EDUKWEST Europe
Kay Alexander is the Managing Editor of EDUKWEST Europe and Creative Director of Winkler Media.

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