99math raises $1,000,000 to boost EdTech math gaming platform

Estonian startup 99math, a multiplayer math game used in classrooms around the world, landed $1,000,000 round to boost the expansion of use in the classroom and implement monetization. The round was led by Genesis Investments and supported by Change Ventures and five angels from well-known unicorns, including Bolt, Transferwise, and Pipedrive.
Launched as a beta tool for teachers in 2019, 99math grew into a gaming platform for kids with over 300,000 engaged users. Proceeds from the current round will be invested in the development of a mobile game for children to play at home and premium plans.

99math is a free tool for teachers and schools to engage students and works as a platform for game-based math practice. Math problems are generated based on a teacher’s choice, and students play on their devices. Starting the game takes less than 1 minute and the entire classroom is engaged all at once.

Students ask to play again and again and both teachers and parents can track the progress. Together, students in 99math have solved over 170 million math problems.
Students from Ms. Holland-Berry’s class on the leaderboard
"For many students, math is the hardest and most boring subject in school. When children receive negative feedback about their skills (not always straight A's in math), they begin to believe they are not good at it. Eventually, they try less. But math is a super important subject, half of the college entrance test scores consist of math. But games celebrate success, they reward the player for steps in progress, and so the kids want to progress more and more. With 99math we’ve shown how fun and exciting math can be, and that students can learn to love succeeding in math. Through the positive feedback loop in the game, we build up the child's skills and belief in their abilities, they start to think, ‘I can do the math. I can take on the next problem.’ That is why we're focused on improving the learning process for students with a game."
comments Tõnis Kusmin, CEO, co-founder at 99math.

99math will remain free-to-use for teachers and schools in the classroom and will monetize through a premium subscription model for parents for use of the game independent of classwork.

99math was founded by Tõnis Kusmin, a founder of three EdTech products, including the Tebo platform used by 50% of Estonian teachers. At 99math, Tonis built a team of pros in games, math, and education. Two other co-founders are Timo Timmi, who is named in the Transferwise 20 under 20 entrepreneur list in Europe, and Ain Arend, who built his first CMS in high school and led the tech team at ADM.

"With proven 100% organic growth and solid traction, we are excited to add 99math, an important startup for STEM education, to our portfolio and be on board with such notable investors. As the lead investor in the round, we will share our expertise in subscription businesses and EdTech products to help 99math scale in the U.S. and globally.”
said Vital Laptenok, General Partner at Genesis Investments.
Genesis Investments is an early-stage VC-fund, focused on companies founded by talented teams from Eastern Europe and Baltic Region. Genesis Investments targets startups from such industries as Online Education, Digital Health, Mobile Apps, Advertising Tech, and AI/ML. In addition to financial investment, the fund shares its expertise in Digital Marketing and helps its portfolio companies recruit the best professionals from the market.

Change Ventures is pan-Baltic seed fund focused on Baltic founders and diaspora globally, investing €400k-1.5M in pre-seed and seed. Change Ventures provides startups with support to reach product-market fit and a deep network of later-stage investors and partners. The main investment criteria is the team and whether they have the grit to succeed and build global-scale businesses.