Magma Math, a leading K-12 instructional math platform for teacher efficiency and classroom management, announced the closing of its Series A funding round, totaling an investment of $40 million. The round was led by Five Elms Capital, with participation from previous investors, team members, and experts in the industry.
The new funding will be used to improve Magma Math for its students, teachers, and district partners in the US, UK, and Sweden.
Since launching in 2015, Magma Math established itself as an industry leader, supporting the majority of the educational system in its home market of Sweden, and has successfully launched in the U.S. with district partnerships in over 30 states since 2021. And Magma Math is transforming how math is taught and learned by making it more accessible, personalized, and engaging.
With the additional funding round, the company will continue supporting research-based math pedagogy by expanding curriculum offerings, enhancing user experience with AI capabilities, and scaling its operations.
Magma Math’s platform combines good math pedagogy and innovative technology to save teachers time and increase their capacity to customize education for each student.
KEY QUOTES:
“We are thrilled to have the support of Five Elms and our new partners in this journey. This funding will allow us to accelerate our mission of enabling educators to create dynamic, student-centered classrooms where all students are challenged and supported appropriately.”
– CEO and co-founder Henrik Appert
“Magma Math has demonstrated exceptional product-market fit in addressing one of education’s most pressing challenges. We’re excited to partner with Henrik and the team as they work to improve mathematics achievement across the US market.”
– Five Elms Partner Joe Onofrio
“In the past, students’ knowledge gaps only became clear after an exam. But by then, it was too late to address them, as you were moving on to the next part in the math book. With Magma, teachers can identify which students are struggling and see what they need help with continuously.”
– Henrik Appert
