Munich’s edtech startup StudySmarter has raised $15 million in a Series A round with ambitions to become the world’s central hub for learning.
The capital is expected to accelerate StudySmarter’s scale-up growth.
“StudySmarter’s award-winning platform revolutionises the learning journey and provides students the ability to be successful and achieve their learning goals,” comments Owl Venures’ Jenny Wang. “Today, more than a quarter of all higher ed and A-level students in Germany are on StudySmarter’s platform and we’re incredibly excited to partner with this team as they continue to scale and expand into new markets.”
Founded in 2017 by Christian Felgenhauer, Maurice Khudhir, Simon Hohentanner, and Till Sohlemann, StudySmarter has a unique approach to lifelong learning, in that students are also their own teachers. Of sorts.
StudySmart can convert any kind of text or content into an interactive course, powered in part through the usage of NLP. Lecture notes, summaries, flashcards, exercises et al can be utilised and the platform’s algorithms will create customised learning programmes.
Based on how each individual interacts with the platform, the algorithm is able to pinpoint areas or topics of difficulty and can then self modify to optimise the learners’ progress. Naturally, the more a student engages with the tool, the more tailored it becomes. And just for added measure, StudySmarter employs a gamification element offering badges and achievements for progress.
Not operating in a single silo, StudySmarter is also leveraging user-generated content, with all users having access to more than 25 million pieces of content created by their peers. Verified educators and publishers are highly encouraged to contribute to the platform, and StudySmarter is the digital content provider of many, including education giant Pearson. In diversifying the learning options, StudySmarter is seeking to bring education technology all under one umbrella.
“More than one in three students drop out because of challenges they face in their learning process,” adds StudySmarter’s Maurice Khudhir. “That’s why we founded StudySmarter as an intelligent platform that supports learners individually throughout their entire learning journey. Our platform has the power to enable access to digital education and ensure successful outcomes for hundreds of millions of learners across the globe.”