Israel’s Matific raises $45m to expand math games

Lead and returning investor in the funding round is Australian entrepreneur Leon Kamenev

Shoshanna Solomon was The Times of Israel's Startups and Business reporter

Illustrative: Israeli schoolchildren, August 27, 2013. (Yossi Zamir/Flash90/File)
Illustrative: Israeli schoolchildren, August 27, 2013. (Yossi Zamir/Flash90/File)

Matific, a developer of educational math and science games for children in kindergarten and elementary school, has raised $45 million from investors and plans to increase its research and development activities in Israel, the startup said.

The company has created a set of products that combines machine learning, data mining and automatic content generation to provide a set of products that make the learning experience fun, interactive and creative. The products can be customized for each child and for different school curricula — and enable students across the world access to superior math education tools at an affordable cost, with free distribution for underserved areas, Matific said in a statement.

Lead and returning investor in the funding round was Australian entrepreneur Leon Kamenev the company said, bringing the total funding it has raised to date by Matific at $58 million.

“The current investment provides Matific with even more growth opportunities and allows us to expand our R&D center and global sales team,” Gil Almog, chief operating officer and the managing director of the Israeli office. The opportunity at hand, he said, is to “revolutionize education.”

Matific was founded in 2012 by Prof. Raz Kupferman, an expert on math education and a former head of the Einstein Institute of Math at the Hebrew University of Jerusalem; Prof. Shimon Shocken, the founding dean of the EFI Arazi school of computer science at the IDC School in Herzliya; Shmulik London, a computer science expert; and Guy Vardi, a former executive at Oberon and a thought leader in the gaming industry.

The products are sold in over 20 countries globally and in 20 different languages. With its research and development and its global operations based in Israel, the company has sales offices in the US, Australia, Canada, South America, UK, and South Africa. Its R&D center in Israel includes specialized game design teams that provide both mentorship and hands-on experience for computer science students and graduates, the company said.

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