Polish edtech company Brainly, developers of a peer-to-peer learning platform, has raised $14 million led by Kulczyk Investments with participation from previous investors Naspers, General Catalyst, Point Nine Capital, and Runa Capital.
In addition to the investment, the company confirmed that it has reached 100 million monthly users. This growth, it said, was bolstered last year by the acquisition of US-based P2P study platform OpenStudy. With its new funds, the company will expand its global presence and add to its product team. It has now raised a total of $38.5 million in funding and will begin building its strategy for monetisation; it recently began implementing paid features into its platform.
“Reaching 100 million monthly users reinforces our belief that a personalized learning experience is one that helps students achieve success and empowers them to help one another,” commented Michał Borkowski, CEO of Brainly.
Lead investor Kulczyk Investments and Brainly have a “shared vision for education and driving growth”, the CEO added.
“Brainly perfectly fits into our VC strategy,” said Sebastian Kulczyk, CEO of the VC firm. “They have a great team and product, and are positioned to have great global development potential. We share a fascination with modern technology and a vision to continually create value out of our partnership.”
Brainly is based in Kraków with offices in New York.