Introduction
Numerade is an online learning tool that enhances STEM education by reintroducing comprehension. Children nationwide who attended online schools in the 2020–2021 school year did 8% better in reading and 13% worse in arithmetic when compared to those who attended traditional classrooms. The circumstances that Ma and his co-founder Alex Lee personally observed while growing up in Los Angeles gave birth to Numerade. Ma didn’t have access to tutoring while attending Campbell Hall High School in North Hollywood, unlike many of his friends.
Here, Ma experienced directly the positive effects tutoring may have on a student’s academic performance. While attending USC as an undergraduate, co-founder Lee observed the need for academic assistance firsthand when he volunteered as a tutor for kids from nearby South Los Angeles communities.
Company Highlights
| Company Name | Numerade |
| Headquarter | Los Angeles, California, USA |
| Industry | Ed-tech |
| Founded | 2018 |
| Founder | Nhon Ma and Alex Lee |
| Website | http://www.numerade.com/ |
Numerade – About
The company that offers pupils the study aid platform is called Numerade. It offers support in math, science, technology, and engineering. It also offers books, movies, and a plethora of other resources. It covers a wide range of subjects, including mechanics, organic chemistry, molecular biology, precalculus, linear algebra, AP physics, and trigonometry. iOS devices can download its mobile app.
Industry
Numerade is an online learning platform that revitalizes STEM education. An online assistance resource that gives you the means to prioritize understanding—that is, comprehending what you learn, why it matters, and why it matters to you.
Founder and Team
Co-Founder
Co-Founder
Three-time founder and two-time Google employee Nhon Ma is the CEO and co-founder of Google. He has held positions in operations, strategy, product, and analytics at some of the company’s newest and most creative ventures.
HugeIQ and TutorCast are two EdTech firms that CTO and Co-Founder Alex Lee previously founded.
The Wall Street Journal hired Jon Buckley as vice president of growth after he was instrumental in the publication’s achievement of its highest-ever membership base.
With a Ph.D. in statistics and a wealth of research expertise in both deep learning and natural language processing (NLP), Chun-Chao Lo is an ML/AI engineer.
Before joining 9Dots and Code To The Future as Head of Partnerships, Jake Steedman oversaw the operations and relationship development processes at both EdTech organizations.
Startup Story
This problem will persist unless more children have access to tutoring outside of the classroom, according to Nhon Ma, co-founder of the online tutoring platform Numerade.
Mission and Vision
The goal is to eliminate the disparity in educational opportunities by providing everyone access to exceptional teachers and the resources they provide.
Name, Tagline, and Logo
Business Model
Users of the startup’s subscription service pay $14.99 each month. However, there are options available at a reduced cost for students from low-income households. Despite serving pupils from different socioeconomic backgrounds, Ma claims that Numerade prioritizes serving underprivileged areas. Wolske and Ma concur, however, that although extracurricular academic support is important, students still need to attend traditional classroom settings to acquire the skills necessary to succeed in their jobs.
Numerade’s current area of expertise is STEM learning tutoring. In the next year or two, the firm plans to extend to audiences worldwide and all K–12 and higher education settings. Act 1 depicts the company’s current state, while the following figure shows how it has grown.
Revenue Model
Entrepreneurs in the ed-tech space are making use of their moment to reevaluate the designs and effects of almost all facets of contemporary education, from the practicalities of information retention to the art of assessment. A straightforward commodity, the coaching session, could be the most popular one up for grabs. A $100 million valuation on scalable, superior coaching sessions was recently offered by Numerade, an ed-tech company that was established in 2018. Presently, it’s projected yearly income is $146M. It is projected that Numerade makes $196,000 for each employee.
Products and Services
Using short-form videos produced by professional instructors, the Pasadena, California-based edtech startup has been providing online tutoring services since 2018. Students may also use the online platform to ask questions about math and science homework assignments they are having trouble with. Although one-on-one tutoring has historically been the norm, hiring a tutor may be expensive, and many kids in the LAUSD system cannot afford this expense.
Numerade’s AI instructor, in contrast to traditional tutors, is available around the clock, covers 25 disciplines, and has a level of skill that goes beyond an undergraduate degree. The company’s main source of income is a monthly subscription that grants unrestricted access to instructional videos. Direct Q&A, live streaming, and class notes are examples of premium add-on services that offer further income prospects.
Funding and Investors
Recently, Numerade secured a $26 million Series A financing sponsored by $20 billion investment company IDG Capital, which possesses extensive experience in both venture capital and private equity. The lead investor in Numerade’s Series A round was Ring Ventures, the alumni venture fund for the Texas A&M community. In addition, Westwood Ventures, Triphammer Ventures, and 116 Street Ventures, sister funds representing the communities of UCLA, Cornell, and Columbia, participated in the round. Additionally, a Syndication possibility helped us raise a portion of our allotment.
Employees
It has 1066 employees.
Challenges Faced
There are no details, but the company faces competition from similar companies.
Acquisitions
No funding is done yet.
Growth
Numerade secured $26 million in Series A investment and reached 20 million students, saving them hundreds of millions of hours of frustrating learning. The platform included topics ranging from pre-algebra to quantum physics.
Partners
Schools may get online instruction from leading US and international instructors by partnering with Numerade.
Competitors
Numerade’s primary rivals include algebra.com, gauthmath.com, socratic.org, and chegg.com.
Awards and Achievements
There are no details of.
Future Plan
As Numerade looks to the future, its goals vividly depict an engaging, customized, and accessible STEM teaching environment. Imagine learning environments where AI adjusts the curriculum to each student’s unique learning style and where peer-to-peer mentoring fosters student success. Numerade stands out for its dedication to promoting this collaborative learning environment in both online and offline settings.
Conclusion
Numerade is, in summary, a movement rather than merely a platform. a movement for knowledge-breaking heightened curiosity, and a greater understanding. One cannot help but be enthusiastic about the future of STEM education, a future in which Numerade shines as a guiding beacon, as they continue to expand and innovate.
FAQs
What does Numerade do?
Owner and operator of an online learning platform designed for live instruction and broadcasting. To help instructors overcome present educational disparities and successfully guide instruction, the firm focuses on producing films and other interactive material for science, technology, engineering, and medical education.
When was Numerade founded?
In 2018, it was established.
Who is the founder of Numerade Corporation?
The founders are Alex Lee and Nhon Ma.
Who is the CEO of Numerade Corporation?
The CEO is Nhon Ma.
Who are the main competitors of Numerade?
The top rivals include algebra.com, gauthmath.com, chegg.com, and socratic.org.
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Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.