Brainly completes USD 80 mn funding round

Brainly intends to utilise the funds to introduce new products for both Indian students and their parents while augmenting its business footprint across Brazil and Indonesia - two high-growth markets, the statement said.Brainly has emerged as the worlds leading peer-to-peer learning platform.

Online learning platform Brainly on Thursday said it has concluded a funding round with a fresh influx of USD 80 million (about Rs 588.6 crore), led by US-based Learn Capital. The series D round also saw participation from Prosus Ventures, General Catalyst Partners along with the platform's existing investors, including Runa Capital and MantaRay, a statement said.

With this, the total funding raised by the company stands at USD 150 million. Brainly intends to utilise the funds to introduce new products for both Indian students and their parents while augmenting its business footprint across Brazil and Indonesia - two high-growth markets, the statement said.

Brainly has emerged as the world's leading peer-to-peer learning platform. It gets more than 350 million unique users every month, out of which, 55 million are from India. The platform also has large communities spread across the US, Russia, Indonesia, Brazil and Latin America, among others. ''We recognised that students require a peer-to-peer learning platform. The growth of this model has accelerated as a result of the global pandemic, forever changing the way students learn. Today, Brainly is the de facto resource for students and parents seeking help with homework from their peers and experts,” Michał Borkowski, CEO and co-founder of Brainly, said.

He added that while Brainly has demonstrated a high rate of growth for years, over the past six months, it has achieved growth milestones that it had projected to hit over the next few years. ''We receive immensely positive feedback from students, parents, and teachers using Brainly, so there are no signs of this growth slowing down anytime soon,'' he said. Brainly's user base has increased organically by more than 75 per cent since April this year. In 2019, Brainly concluded its Series C round led by Prosus (Naspers) with a total capital influx of USD 30 million.