Brainly raises $80 million Series D led by Learn Capital

Brainly, the Poland-based operator of a peer-to-peer homework help platform, has raised $80 million in a Series D funding round. The financing was reported on December 17, 2020, and was led by Learn Capital.

Prosus Ventures, Runa Capital, MantaRay and General Catalyst Partners also took part in the round, which brings the total capital raised by the company to about $150 million. Brainly did not disclose its new valuation, although it described the deal as an increase on the previous round; PitchBook estimates cited by TechCrunch put the valuation at its 2019 Series C at $180 million. The company said the new money would go toward expanding its tools for students and parents and toward growth in emerging markets, with Indonesia and Brazil named as priorities.

Brainly runs an online community in which students post school questions and other users answer them, with a core audience of learners aged 13 to 19. The platform reported about 350 million users at the time of the round, up from 150 million in 2019, including roughly 30 million in the United States, the only market where the service was then monetized. Planned product work includes an expanded tutoring offer, video content and AI-based personalization features.