Magma Math Secures $40 Million in Series A Funding from Five Elms Capital

Investment to Accelerate Growth and Amplify Global Impact in K-12 Mathematics Education

NEW YORK, Nov. 20, 2024 /PRNewswire/ -- Magma Math, a leading K-12 instructional math platform for teacher efficiency and classroom management, announced the successful 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 industry experts. The new investment will be used to make Magma Math even better for its students, teachers, and district partners in the US, UK, and Sweden.

Since its launch in 2015, Magma Math has 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. Magma Math is revolutionizing how math is taught and learned by making it more accessible, personalized, and engaging. With the additional funding, the company will continue supporting research-based math pedagogy by expanding curriculum offerings, enhancing user experience with AI capabilities, and scaling its operations.

"We are thrilled to have the support of Five Elms and our new partners in this journey," said CEO and co-founder Henrik Appert. "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."

Five Elms Partner, Joe Onofrio, commented on the investment: "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."

Magma Math has consistently been recognized for its innovative approach to math education. The platform combines good math pedagogy and innovative technology to save teachers time and increase their capacity to customize education for each student. "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," explains Henrik Appert.

For more information about Magma Math and its innovative solutions, please visit magmamath.com.

About Magma Math
Magma Math is a K-12 platform that enables students to show their thinking and helps teachers enable good math pedagogy, whilst saving time. Aligned with state standards, it supports formative assessments, mathematical discourse, student-centered learning and deeper math understanding while seamlessly integrating with classroom technology to drive academic growth.

About Five Elms Capital
Five Elms is a leading growth investor in world-class software businesses that users love. They provide capital and resources to help companies accelerate growth and further cement their role as industry leaders. With over $3 billion in assets under management and a global team of 70+ investment professionals, Five Elms has invested in more than 70 software platforms globally.

SOURCE Five Elms Capital