New York-based Slate Science, the developer of Matific, has raised $12 million in its Series A round of funding despite being less than three years old.
One source said the funding came from “existing angel investors.” Previously, investors included Benny Schnaider, Roni Einav and Leon Kamevev.
Matific is a program that offers math activities and games for students in grades K-6 that developers say offers that “aha!” moment to learning math. The program is designed to be used in both in the classroom and at home and may be accessed through a browser or downloaded as an app for iPhone, Android, iPad and tablet use.
As of the last count in January 2015, over 15,000 teachers were using the program. Over 10,000 of those were reported to be in the US.
Guy Vardi, CEO of Slate Science, explained, “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 Matific website, the program creates its interactive mini-games and worksheets based on standard math curriculum and information from popular textbooks using a blended learning approach.
“At Matific we understand the importance of transparent tracking and analytics capabilities. The system features an intuitive reporting system that monitors progress and provides real-time and periodical status reports at both the class and student level.”
The program is free for teachers to use in their classrooms. There are two premium options for students who wish to access the program at home: schools can either purchase an extended use program, which allows the program to work off the school’s network, which would cost the school $10 per student, or parents can individually purchase the program for their child at a cost of $36 per year.
Vardi said the funding will be used to expand on the program on an international level. Currently the program may be accessed in 20 countries and seven languages. The company has plans to expand further into South America and Asia, writes Charley Locke for edSurge.
Vardi would also like to see more offerings within the program as it expands into more schools and countries. “We have a great product, but would like to integrate better with existing curriculum in schools,” he explained. He went on to say that doing so will become even more important as the program continues to expand to include more areas.
The convergence of math and educational video games is the result of two trends: more parents wanting to see their children succeed in STEM subjects, and the increasingly popular idea of gamification, which makes use of educational entertainment and incentive structures.