A tech start-up company aiming to boost the world's math skills will extend the reach of its products after securing $45 million in funding for educational video games, bringing the total amount invested in the games to $58 million.
The start-up company, Matific, creates educational math and science video games for children in kindergarten and elementary school. The start-up had excellent results from the Series A funding round and now plans to use new funding to educate children in Israel.
The latest funding provided to the company in the Series B round will also extend the reach of the game beyond the network of 20 countries where it is currently in use, reports Gedalyah Reback from Geektime.
Leon Kamenev, an entrepreneur from Australia, led the funding round.
Around 15,000 teachers currently use the game, which combines data mining and computer knowledge to make the learning process enjoyable and interactive, reports Viva Sara Press of ISRAEL21c.
The game also customizes content depending on a child's abilities, which is an effective feature and improves its popularity and use within the education curricula.
According to Shoshanna Solomon, a reporter with The Times of Israel, Matific is currently available in 20 different languages with global operation based in Israel and offices in US, Australia, Canada, South America, UK, and South Africa. Head office comprises the research and development center led by a specialized gaming team.
The Center also offers practical experience and mentorship programs to computer science students and graduates.
According to the Matific website, the game assists children in building a solid understanding of math, and problems increase in complexity as the activities are explored. Children are offered help and rewarded when necessary.
In a statement, Guy Vardi, CEO of Slate Science, said:
"Matific appeals to children's love of playing games. By making math interactive and hands-on, children learn the important fundamentals and enjoy the process of learning more. We're proud of the product we've made and even more proud of the children who are learning because of it."
According to the Times of Israel, Matific was founded in 2012 by Prof. Raz Kupferman, an expert on math education and a former head of the Einstein Institute of Math at the Hebrew University of Jerusalem; Prof. Shimon Shocken, the founding dean of the EFI Arazi school of computer science at the IDC School in Herzliya; Shmulik London, a computer science expert; and Guy Vardi, a former executive at Oberon and a thought leader in the gaming industry.
Gil Almog, the chief operating officer and the managing director in head office located in Israel states that:
"The current investment provides Matific with even more growth opportunities and allows us to expand our R&D center and global sales team."
Almog also suggests that the opportunity will "revolutionize education."
According to Edsurge, an independent information resource for education technology, the "deal with Matific is considered the largest of the year."
The product is available for free in some areas and at an affordable cost to others, and can be used either in the home or classroom.
A testimonial provided by school principal Arid Nir on the Matific website states that:
"Matific turned math instruction in our school to a rewarding and fun experience for students and teachers alike."