Course Hero, an edtech unicorn that provides course-specific study resources, has acquired Tel Aviv-based Symbolab, a pioneer in the development of artificial intelligence to help students learn and solve the most complex math questions.
The financial details of the deal were not disclosed. Meanwhile, the acquisition comes nearly two months after Course Hero had closed its $80 million Series B funding round, which is said to be one of the largest US funding deals in 2020, bringing the company’s valuation to $1.1 billion.
Founded by mathematicians and computer scientists (Michal Avni, Lev Alyshayev and Adam Arnon) in 2011, Symbolab helps students better understand and practice math problems across a range of educational levels and subjects, such as advanced algebra, trigonometry, calculus, chemistry and physics. The platform provides students with step by step solutions to any math problem, as well as artificial intelligence-driven personalized learning, assessments, insights and more. According to a press statement, Symbolab has over 1 million daily active users worldwide, and the platform has been used by over 50 million students to work through and understand one billion questions and explanations in 2020 alone.
Describing Symbolab as the only math education platform in the world that can help students and educators solve complex geometry problems featuring detailed explanations and proofs, Course Hero said in a statement: “Symbolab’s expertise in AI and learning science will amplify Course Hero’s future development of cutting-edge resources and tools for learners.”
Commenting on the acquisition, Andrew Grauer, Co-founder and CEO of Course Hero, said:
“College-level math is among the most challenging subjects for students, but it’s also one of the most important gateways to college success. This is about complementing great teaching by providing students with another way to ask and answer questions, practice, and master critical concepts. The Symbolab team is tightly aligned with our culture and values. They share our primary mission to provide access and equity to all students, helping them graduate, confident and prepared.”
According to Andrew, the Symbolab technology will be integrated into the Course Hero platform, but the startup will retain its existing brand and team of mathematicians, developers, and computer scientists.
Speaking about the company and what joining with Course Hero would mean for Symbolab, Michal Avny, Co-founder and CEO of Symbolab, said:
“We are constantly exploring innovative ways to make mathematics accessible for students, reducing anxiety and equipping them with the understanding they need to persist at the next level. By joining forces with Course Hero, our technology solutions will give many millions of students the confidence they need for broader educational success.”
Course Hero is on a mission to help students make every study hour count, and graduate confident and prepared. The Redwood City, California-based online learning platform offers over 40 million course-specific study materials created by and for students and educators, as well as 24/7 tutor help. The learning materials include practice problems, study guides, textbook solutions, videos, class notes, and step-by-step explanations for every subject.
Course Hero claimed earlier that its annual run revenue has surpassed $100 million last year and was on track to exceed that in 2020. The company also said that the number of questions asked on its platform has tripled since the pandemic.