Korean startup Mathpresso completes $59 mn Series C investment

Mathpresso, the company that operates the artificial intelligence (AI)-based learning platform Qanda, said on Tuesday that it has completed Series C with an additional investment of 77 billion won ($59 million).

Signite Partners, a Shinsegae Group venture capital firm, YBM, Goodwater Capital, Softbank Ventures, and Mirae Asset Venture Investment took part in the investment round.

In July last year, Mathpresso received a Series C investment of 56 billion won. Its cumulative volume of investment is 143 billion won.

In the future, Mathpresso plans to focus on upgrading vertical services for personalized learning experiences while strengthening profitability.

"It was meaningful to attract investment in a situation where investor sentiment is extremely depressed across the world. Through the latest investment, we will focus on the learning experience of students and create more customer contact points," said Lee Yong-jae, CEO of Mathpresso.

Write to Joo-Wan Kim at kjwan@hankyung.com