Investment & Fund Management

99Math, an Estonian e-learning platform focused on making mathematics engaging through gaming, faced significant challenges in scaling its operations and adapting to the sudden shift to online learning due to the COVID-19 pandemic. Initially, the company had gained some market traction by the end of 2019 but was in need of a strong venture capital partner to help propel its growth.

In January 2020, 99Math secured investment from Change Ventures, an Estonian VC fund backed by the European Investment Fund (EIF) through the Baltic Innovation Fund (BIF). This partnership was crucial as the onset of the pandemic led to a dramatic increase in demand for online educational tools. The company experienced a staggering 250% increase in user numbers as schools transitioned to remote learning.

To capitalize on this surge, 99Math quickly optimized its platform for remote education and launched a large marketing campaign in collaboration with other ed-tech companies in Estonia, offering basic services for free. This proactive approach garnered significant media attention, including coverage from the BBC, and even led to a tweet from Shakira, which introduced 99Math to a broader audience, particularly in the Latin American market.

Looking ahead, 99Math aims to refine its mathematics offerings and expand into global tournaments, similar to e-gaming competitions, which have already seen participation from 30,000 students in real-time events. This innovative approach not only enhances engagement but also positions 99Math as a leader in revolutionizing educational experiences for students.