BERKELEY, Calif. (PRWEB) May 18, 2020
Education technology company Enuma, best known for its children’s app Todo Math and as a winner of the Global Learning XPRIZE competition, closed its $9 million Series B round financing.
Enuma is an education technology company that has drawn attention in the online education market, which has been a boon to families during the COVID-19 pandemic. Since its founding in Berkeley, California in 2012, Enuma has developed game-based self-directed applications for children to help them acquire foundational math and literacy skills even without adult support. What distinguishes Enuma’s products is the accessibility and inclusivity to enable all children, including children who find learning more challenging or have learning differences, to engage in learning together joyfully.
Enuma’s flagship product, Todo Math, which has recorded over 8 million downloads worldwide since its launch in 2014, has continued to be loved, ranking number 1 on the App Store education category in Korea and Japan recently. Last month, Enuma launched a new app, Todo English, in Korea. Combining game-based learning activities, worksheets and videos while sharing progress reports with parents through chatbots, Todo English has quickly gone viral, with rapid revenue growth, as a substitute to English kindergartens and afterschool programs for young learners who are at home due to COVID-19.
Enuma is also active in addressing the inequities in education through its apps like Kitkit School, which was a co-winner of the Global Learning XPRIZE competition to tackle illiteracy of out-of-school children in developing countries, and Enuma Geulbang, which was developed to teach Korean literacy to children from multi-cultural families. “Enuma’s digital solutions have recently received a lot of attention from both the private and public education markets. We are going to to lead the transformation of the education market worldwide by bringing innovative digital-based solutions, and not let it become a short-lived trend triggered by COVID-19,” said Sooinn Lee, CEO of Enuma while sharing her aspiration.
With this round of financing, Enuma’s cumulative investment surpassed $18 million. YellowDog’s Director, Hyunjoo Je, who has led this Series B round and the previous financing round in 2018 said, “In this era of COVID-19 where distance learning solution is needed, Enuma offers products that teaches early learners basic English reading, writing, and numeracy through apps only. As a company that is on the forefront of the online self-directed learning trend, I look forward to Enuma’s remarkable growth.” This round’s investors include YellowDog, SKS PE, SK Holdings, Kakao Ventures, and Shinhan Alternative Investment from Korea, the Kuok Group from Malaysia, and the HEAD Foundation from Singapore.
Enuma creates exceptional learning apps that allow all children to gain confidence and independence while building foundational skills. The name Enuma comes from the word enumerate, or to name one by one, which underscores our commitment to every child’s individual success.
Enuma’s notable products include Todo Math and Todo English with over 8 million downloads worldwide, along with Kitkit School, which was named a winner of the Global Learning XPRIZE competition in 2019. Enuma was founded in 2012, and is headquartered in Berkeley, California with offices in Seoul and Beijing.