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Monday, May 29, 2023

Norwegian edtech startup raises €4.1M to gamify the math experience

The edtech platform House of Math, based in Oslo, has secured €4.1M (NOK 45M) in a series A round led by Marius Steens Steenco alongside its existing shareholders. The startup’s gamified platform offers tutoring for students in primary school, lower and upper secondary school and higher education. The investment will allow House of Math to further exploit opportunities for growth and expansion globally.

House of Math was founded in 2006, initially offering homework help and physical education to pupils and students. However, the company transitioned to become a pure edtech platform in 2020. The platform offers a syllabus from first to thirteenth grade, along with activities, games, and study tips, with 1.7 million users. Users can learn through traditional tasks or games and interactive activities. The positive feedback received from users has been a significant driving force behind the company’s growth.

As the startup’s founder Vibeke Gwendoline Fængsrud noted in Shifter’s report, the capital market has been challenging for everyone. However, she believes that there is still capital available for good companies, as evidenced by the successful Series A funding round.

House of Math plans to launch a paid subscription in 2023. The company remains optimistic about its future and is committed to providing quality edtech solutions to users around the world. The successful funding rounds demonstrate the confidence investors have in the company and its potential to transform the edtech industry. House of Math’s dedication to providing innovative and interactive learning solutions positions the company for continued success in the years to come.

The startup had previously raised NOK 37 million in 2021, marking a significant year of growth for the startup. Founder and General Manager, Vibeke Fængsrud, expressed her pride in the company’s progress, stating that the investment will provide additional runway to accelerate global growth and expansion.

Jan Ameri
Jan Ameri
Entrepreneur-by-heart – and by actions since 1998. Being an expert in spotting new opportunities and creating new concepts, Jan has been a partner or co-founder in seven different companies in various industries. In the early 2000’s he was pioneering some of the very first WAP, SMS, and interactive TV based wireless games and fantasy sports games in the Nordic countries. Jan loves to watch Shark Tank and The Profit in his free time. And he is an FC Barcelona fan.

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