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Photomath, the World s Most Popular Math Learning App, Secures $23 Million in Series B Funding

Photomath, the World s Most Popular Math Learning App, Secures $23 Million in Series B Funding
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Math learning app Photomath raises $23 million as it reaches 220 million downloads – TechCrunch

Photomath, the popular mobile app that helps you solve equations, has raised a $23 million Series B funding round led by Menlo Ventures. The app is a massive consumer success, and chances are you might already know about it if you have a teenager in your household. The app lets you point your phone’s camera […]

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Goldman Sachs and Sesame Workshop pour money into this edtech firm s newest fund – TechCrunch

Goldman Sachs and Sesame Workshop pour money into this edtech firm’s newest fund Reach Capital III is a $165 million investment vehicle Shauntel Garvey and Jennifer Carolan liked edtech before the sector was cool, so the duo co-founded Reach Capital in 2015 with a $53 million debut fund. The San Francisco-based venture firm has since put checks into education startups including Newsela, Sketchy, ClassDojo and Outschool, landing six exits so far. Now, after seeing its portfolio accelerate in the wake of the coronavirus, Reach is announcing its third fund aimed at backing edtech startups. Reach Capital III is a $165 million fund, the firm’s biggest to date. Reach’s team, which also includes Chian Gong, Wayee Chu and Esteban Sosnik, started raising the investment vehicle over the summer. New LPs in the fund include Sesame Workshop, National Geographic, Kaiser Foundation Hospitals and Goldman Sachs.

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Austin Inno - The top venture capital funding rounds for Austin startups in January 2021

Austin Inno - The top venture capital funding rounds for Austin startups in January 2021
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Varsity Tutors to Go Public at $1 7B Valuation Through SPAC Acquisition

Being nerdy pays off, and soon there will be another education technology company on the public market. Nerdy, the parent company of Varsity Tutors, an online tutoring platform, will be acquired by TPG Pace Tech Opportunities, a special purpose acquisition company. The deal will give Nerdy a valuation of $1.7 billion, making it the first billion-dollar technology company based in St. Louis, according to the St. Louis Post-Dispatch. The transaction includes $450 million that TPG Pace Tech Opportunities raised from its IPO last October, along with another $300 million from forward purchase agreements and PIPE financing (another way for TPG Pace to raise additional capital from investors). The acquisition is expected to be complete in the second quarter of 2021, and Nerdy will be listed on NYSE under the tickers NRDY.

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