Numerade is a virtual learning platform that democratizes access to quality STEM education. Pulse 2.0 interviewed Numerade CEO and co-founder Nhon Ma to learn more about the company.
Nhon Ma’s Background
Numerade was born from Ma’s personal experiences of seeing inequity in education firsthand. Ma said:
“My mother, a Vietnamese refugee, worked as a seamstress in a factory in downtown LA, earning 10 cents per garment she sewed, and my father was a janitor at the same school I attended. My parents depended on the Los Angeles Unified School District, not only for my education but for meals and childcare while they worked. I knew from a young age that my biggest chance out of our poverty was through taking my education seriously and taking advantage of any resources and opportunities I could get.”
“Fast-forward a couple of decades, and I founded Numerade, a generative AI online learning platform. It’s my way of giving back to the community and helping to level the playing field for those who did not have those same opportunities. I believe that everyone deserves a quality education, regardless of their socioeconomic background.”
Favorite Memory
What has been Ma’s favorite memory of working for the company so far? Ma shared:
“My favorite memories have been all the times when students have told us how much we have helped them learn, gain a deeper understanding of their subjects, and ultimately ace their classes with confidence. These are definitely my favorites.”
Challenges Faced
What challenges has Ma faced in building the company? Ma acknowledged:
“The challenges have all been internal. On a personal level, it’s the daily challenges that come naturally from building and growing a company. It is the discomfort and struggles of just being in the arena. In facing these daily challenges head-on and with a positive mindset, I’ve definitely grown as a person and become stronger and more resilient. Growth is difficult, and a fast-growing company demands personal and professional growth from both our team and myself to find success. Having a growth mindset is absolutely critical.”
Core Products
What are the company’s core products and features? Ma explained:
“Numerade is a generative AI learning platform that tutors students and helps them learn STEM subjects through our full suite of study features. Through one of our most popular features, top educators create video solutions matched directly to questions in thousands of STEM textbooks. Additionally, students can submit questions on our platform and receive custom video solutions and lessons from our educators and our AI tutor.”
“We also use AI to learn students’ individual study habits and learning patterns (at a much lower price than private tutors). Utilizing data from student-completed and on-platform quizzes. The algorithm takes this information and then provides them with a customized study plan based on their results. The goal is to help students actually understand and retain STEM concepts by providing visual and interactive explanations – a format we’ve found resonates in today’s short-form video-preferred culture. In fact, despite shrinking attention spans, students on Numerade spend eight minutes on average watching a two-minute video, meaning they’re rewatching and actively absorbing information versus passively glazing through videos.”
Evolution Of Numerade’s Technology
How has the company’s technology evolved since launching? Ma noted:
“Earlier this year, we released Ace, our AI tutor that can learn students’ unique study habits and learning patterns through submitted, student-asked questions. It doesn’t just give students the answer to questions – it helps them deepen their overall subject knowledge. Ace will proactively ask students if they need additional help with a problem and include options to explain the answer, provide a short answer, or give tips for the questions. Ace will then break the problem down into steps that lead to additional guided prompts. Students can even ask Ace to adjust its language if they require a more technical description or a simplified explanation.”
“Once Ace learns the students’ learning style, over time, it knows what type of ‘voice’ or tone explanation level they need. It also takes away the stigma from answering questions students might be shy or embarrassed to raise their hands and ask in class.”
“The results so far are promising: Ace has helped increase student retention on Numerade by 33%, helping prove that AI can actually help students focus better, rather than distract them.”
Significant Milestones
What have been some of the company’s most significant milestones? Ma cited:
“Besides the launch of Ace, we were also thrilled to raise $26 million in Series A funding two years ago, which has allowed us to grow our lesson video library to more than 100 million (the largest STEM video library online) and invest in the development of our proprietary AI tutor technology, which led to the creation of Ace. This was especially meaningful on the heels of the Covid-19 pandemic and remote learning, which exacerbated the widening opportunity gap between lower- and higher-income students.”
Customer Success Stories
Can you share any specific customer success stories? Ma cited:
“Numerade provides a safe space for students to ask questions and learn according to their unique study patterns. In one student’s case, they were often confused in class and found it difficult to approach busy teachers with questions. Through our platform’s study features, that student was able to achieve their academic goals and was so inspired that they actually applied to be an intern with us so that they can help give back to other students as well.”
“On the educator side, many of our instructors have been able to double their income by creating curriculum content on Numerade, in many cases supplementing their teacher salaries and, in others, pivoting to work for Numerade full-time. Numerade provides the flexibility to work from anywhere, create lesson plans on their own time, and alleviate the financial stress that often comes with being a public school teacher. Some educators have earned up to six figures, with many making anywhere from $60,000-$90,000 in a year. One educator was even able to buy a new car with his earnings.”
Funding
After asking Ma about the company’s funding information, he revealed:
“We most recently raised $26 million in Series A funding with a valuation of $100 million.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Ma assessed:
“Ideally, our TAM covers any and every student across the world as we seek to make quality STEM education more accessible.”
Differentiation From The Competition
What differentiates the company from its competition? Ma affirmed:
“Instead of being ‘answer peddlers,’ on Numerade, we provide the means to gain a true understanding of STEM. We do this by partnering with expert educators who create short-form, step-by-step solution videos that help students better understand the necessary processes for solving problems. Instead of simply handing out answers, we’re improving comprehension and confidence so students can then find the answers on their own.”
Future Company Goals
What are some of the company’s future company goals? Ma concluded:
“While we’re currently working toward a wide variety of groundbreaking technological developments for our generative AI-based learning platform, they ultimately serve the same singular end goal: to help ensure students everywhere can access STEM learning materials.”
