POSTMATH, a Korean edtech startup operating “Math Assistant,” a free problem bank platform for teachers, has raised 2.7 billion KRW (approximately $2.05 million) in Series A funding. The investment round saw participation from The Invention Lab and the Korea Credit Guarantee Fund (KODIT). To date, POSTMATH has secured a total of about 5 billion KRW (approximately $3.8 million) in funding, with around one-third of its employees participating in the paid-in capital increase.

Math Assistant has been well-received by teachers for its features tailored to educational needs, such as support for HWP-format problems, one-click similar problem searches, and PPT conversion. The platform also offers schoolteachers free access to textbooks and EBS databases, which are essential for classroom instruction. This has significantly reduced teachers’ preparation time, quickly spreading via word of mouth and now being actively used in over 100 high schools.

POSTMATH has developed its own OCR technology optimized for domestic math problems, achieving better accuracy than global competitor Mathpix. This technology can accurately recognize handwritten problems, even with scribbles, without introducing typos. The company’s graph program also supports graph searches and corrections based on mathematical context.

Building on this technology, POSTMATH plans to launch a new “automatic typing service” in December. This service will convert PDF files into fully digital HWP documents, including images, within three minutes and without errors.

Since its founding, POSTMATH has achieved annual growth of more than 2.5 times. As of October 2024, its monthly revenue exceeded 400 million KRW (approximately $305,000), surpassing the break-even point. Although the fourth quarter is still underway, its performance has already significantly exceeded that of the third quarter.

The company’s main revenue model involves creating personalized databases, offering the service at a cost of around 500 KRW (approximately $0.38) per question. POSTMATH anticipates tenfold growth in 2025 as it rolls out application services based on its accumulated database.

Kim Jin-young, CEO of The Invention Lab, commented, “The math assistant service will pioneer the edtech SaaS market with unmatched technology, not only in Korea but also in the global math problem database market.”

Choi Jun-ho, CEO of POSTMATH, added, “We plan to expand our services to cover all subjects by 2025 and broaden our user base to include students and parents with the launch of a new app.”