In 2021, the online education niche began to grow sharply amid the pandemic. EdTech startups attracted more than $2.1 billion in venture capital investment last year. According to research centers, the 2019 annual figure was just $426 million. Coincidentally, most of the EdTech startups with valuations over $1 billion grew in the American and Chinese markets.
Best 5 EdTech Startups
Research and Markets, in a 2018 study, projected the AI market in education to grow about 47% each year. Artificial intelligence is expected to be used in a variety of educational applications, particularly multilingual translators. In 2021, the AI market grew by 14%. In 2022, Gartner predicts the field will grow another 21%. Let’s take a look at the top 5 EdTech math startups to date.
It is a site with a database of learning resources, literature, and educational courses designed to study algebra. You can find absolutely everything on this platform – problem guides, textbooks, class notes, infographics, step-by-step explanations, etc.
In addition to being a great source for mathematic education. Course Hero is also involved in social activities. They have set aside $500,000 for emergency financial aid for students who get into trouble. Also, they select users who have had a tough time getting through college and pay them a $5,000 grant each year until they graduate.
During its existence, the company attracted more than $2.9 billion in investments, but because of the restrictions imposed in China, financing has been suspended. The platform is going to actively attract customers at the beginning of the new school year.
The startup Udemy is focused on professional development and adult education. In total, they have over 150,000 online video courses and over 40mn students. Udemy actively supports the activities of coaches and teachers – allowing them to upload their lectures and set their fees. In return, the platform takes a percentage of the purchase receipt. This kind of partnership is one way to monetize the project. But startups aren’t the only ones relevant as independent learning tools.
Nowadays, a lot of students need online help with their studies. Many resources offer algebra 2 answers and solutions in case you need help with math or physics assignments. Most college math homework problems are not much different. Therefore, users can find algebra solutions and answers. The materials can be used as a stand-alone curriculum or as a supplement to a textbook.
Increase your productivity with homework, assignments, chapter tests, etc. Refer to algebra 2 answers to get good grades on your exams. Now let’s take a look at the following useful resource for students.
Educational startup Zuoyebang was launched by Chinese Internet giant Baidu in 2015. The project was later spun off into a separate company. The platform allows students to find the right answers to homework with the help of artificial intelligence, as well as to study with tutors online.
Zuoyebang has managed to maintain its place in the top three despite the tightening of regulation of the EdTech industry in China. Since the summer of 2021, the startup’s valuation has not changed, although the value of many educational projects has dropped several times at the same time. During its existence, the company attracted more than $2.9 billion in investments, but because of the restrictions imposed in China, financing has been suspended.
Yuanfudao is China’s largest EdTech startup specializing in educating children. Since its founding in 2015, the company has managed to build a large-scale educational ecosystem. It includes geometry lessons, the Xiaoyuan Kousuan math test app, the Zebra AI platform for preschoolers, the Yuantiku online test database, and many other projects.
Yuanfudao’s rapid growth has been greatly influenced by the demand for online learning for children in China, which has only increased since the pandemic began. As a result, the company received $2.2 billion in investments in October 2020 alone.
However, as with Zuoyebang, Yuanfudao’s has its own startup strategy and funding came to an end after restrictions were imposed on EdTech services. Although authorities later relaxed the ban by allowing free classes, the company’s future was questioned. In October 2021, Yuanfudao said it would focus on corporate training.
ByJu’s is an Indian company that has launched a learning platform of the same name. It offers educational materials for undergraduate and graduate students, as well as for those enrolled in the twelve-year K-12 program. This resource has made it possible to study math easier. In addition, ByJu’s has developed Early Learn specifically for preschoolers. All learning material in the app is presented in the format of short animated videos. It is possible to prepare for exams.
What’s in store for global EdTech in 2022
In 2022, the upward trend will continue, and the volume of venture investments in educational helpful apps and projects will grow even further. This will be partly due to the low base effect in China. Large EdTech startups may be placed in public markets, but they are unlikely to be more active than in 2020-2021. Too much private venture capital is coming into this segment. The expert advises focusing on developing markets in Africa and Asia, where the penetration of high-quality applied education is so low.
You got acquainted with the best startups that are making learning math easier. In 2022, EdTech apps have captured the attention of audiences with technology products and quality education systems. Let’s see what new technologies will offer in 2023.
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