Korea's KnowRe raises $6.8m Series A from VC backers

KTB Network, Partners Investment and SparkLabs Global Ventures also took part in the round.

KnowRe, which was established by a group of mathematics instructors, provides game-based software for learning mathematics, adapting the curriculum in real-time as it tracks students' progress.

The company is a member of the first class of the SparkLabs start-up accelerator which supports Korean entrepreneurs as they look to expand overseas. The start-up raised it first institutional round in January last year when SBVK put in $1.4 million.

KnowRe was set up in 2010 but had its official launch in March this year following a year-long beta period, during which the company held a pilot program involving dozens of middle and high schools across the US.

According to a statement, KnowRe will use the new funding to scale-up its distribution in the US in response to strong demand from schools and districts. Capital will also go towards product development and offerings for the US, Korea, and broader Asian markets.

"We initially invested in KnowRe because we were impressed with the vision, technology, and capabilities of the KnowRe team," said Sean Lee, executive director at SBVK. "Since then, KnowRe has continued to demonstrate their ability to execute on their vision and we are excited about their plans to grow in the US and Asia."

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• Topics
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• SOFTBANK Ventures Korea
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• South Korea
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