We advised 99math, an Estonia-based startup, on raising USD 1 million in order to boost its edtech math gaming platform aimed at making math fun.
Investment into the future
After debuting in 2019 as a beta tool, 99math has grown into a gaming platform for kids with over 300,000 users. Capital raised from the current round will be invested in the development of a mobile game for children to play at home and premium plans.
The investment round was led by Genesis Investments, with participation from Change Ventures and five angel investors from leading positions at companies such as Bolt, Wise, and Pipedrive.
Educational games for kids
99math is an interactive platform for kids to play math games and compete with each other. Math problems are generated based on the teacher’s choice, and students play on their devices. Starting the game takes less than 1 minute and the entire classroom is engaged all at once. Together, students in 99math have solved over 170 million math problems.
“Math is a very difficult subject for many children. They don’t always want to study long and hard and, instead, spend their free time on gadgets and online games. We combined a game, competition, and an academic component and showed how fun and interesting math could be. Moreover, with interactive rewards and gamification, a positive feedback loop is created. When a kid sees that they can solve a math problem, they become more confident in their knowledge. This is important because when teachers check assignments in schools, they mostly highlight children’s mistakes. We believe that self-confidence helps children learn better – that’s why we focus on changing the process of learning in this direction,” shared Tõnis Kusmin, CEO of 99math.
Our services and client team
We advised 99math on all matters related to raising capital.
Our client team was led by counsel Lauri Liivat, supported by partner Toomas Prangli and associate Nele Suurmets.