There are a lot of companies that provide online lessons for students, but Numerade is hoping that its combination of tutor-driven service and AI will help it stand out.
Numerade's subscription service has a database of over 1.2 million videos created by certified tutors for middle school, high school, and college-level STEM courses. The company uses artificial intelligence to allow users to search the database and generate customized lessons and quizzes for students.
This week, the Los Angeles-based company announced a $26 million Series A funding round led by IDG Capital, with General Catalyst, Mucker Capital, and Kapor Capital also participating.
According to the company, more than 30,000 users have become certified tutors on the platform. Users pay $9.99 per month or $83 per year to use Numerade.
Numerade isn't the only edtech firm that employs artificial intelligence to aid in the learning process. Quizlet, for example, uses AI to generate step-by-step solutions for students. Numerade, on the other hand, uses video, which it considers to be more digestible and interactive than text.
"By the end of the video, whether it's a minute or six minutes long, the student will understand how the educator got from point A to point Z," Numerade's vice president of growth Jonathan Gupta-Buckley said. "In order to avoid giving away the answer, we make sure [students] are learning and growing while using our platform."
During the pandemic, investors flocked to edtech, as forced school closures hastened the adoption of digital technologies in the classroom.
Numerade will have to compete with existing video-based learning platforms like Khan Academy, which already offer STEM courses ranging from middle school to collegiate level.
Numerade, on the other hand, sees itself as a service that will make private tutoring more accessible to a broader demographic at a lower cost.
"Private tutoring is completely out of reach," Gupta-Buckley said. "Providing a service that allows a student to learn, grow, and develop their builder skill set in STEM at a fraction of the cost is an invaluable service."
Numerade sees itself as a complement to a student's regular course load, despite the return to in-person schooling.
"This pandemic sparked interest in hybrid learning," Gupta-Buckley said. "As a result, I believe we will be seen as a supplement to in-class education."
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