PhotoMath Raises $23 Million in Funding

Photomath Secures $23 Million in Series B Funding

Photomath, the widely-used mobile application designed to assist with equation solving, has successfully completed a $23 million Series B funding round. This investment was spearheaded by Menlo Ventures.

The application has achieved significant consumer adoption, and is likely already familiar to households with teenagers.

How Photomath Works

The app functions by allowing users to aim their smartphone’s camera at a mathematical problem. It then identifies the written problem and provides a detailed, step-by-step solution.

While some might perceive it as a tool for students seeking to avoid effort, Photomath offers a diverse range of applications.

For example, users can input an equation manually and utilize the app to generate a corresponding graph.

Bridging the Physical and Digital

Entering equations via a keyboard can be cumbersome. Therefore, Photomath’s ability to connect the physical world with smartphone technology is central to its popularity.

Users can simply write equations on paper, effectively creating an augmented reality calculator.

Investors in the Round

GSV Ventures, Learn Capital, Cherubic Ventures, and Goodwater Capital also participated in this funding round.

The App's Origin Story

The success of Photomath has an interesting background. Initially, it was developed as a demonstration application for a company named MicroBlink.

At that time, the MicroBlink team was focused on developing text recognition technology, with plans to license it to other businesses.

A pivotal moment occurred in 2014 when MicroBlink presented at TechCrunch Disrupt in London. Following the presentation, Photomath rapidly ascended to the top position in the iOS App Store.

Current Status and Impact

To date, Photomath has been downloaded over 220 million times. Currently, it holds the 59th position in the U.S. App Store, surpassing even Tinder in ranking.

Despite attempts by competitors to replicate its functionality, no other company has yet managed to overtake this European startup.

The app’s relevance has increased as more students engage in remote learning. It provides a readily available resource when direct access to a teacher is limited.

Pricing and Features

Photomath is available for free, with an optional premium subscription, Photomath Plus. This paid version unlocks additional features, including dynamic illustrations and animated tutorials.