February 18 (SeeNews) - Croatian software company Photomath, known for its math learning app of the same name, said on Thursday it has secured $23 million (19 million euro) in Series B funding led by US venture capital firm Menlo Ventures.
The fundraising round also included GSV Ventures, Learn Capital, Cherubic Ventures and Goodwater Capital, Photomath said in a statement.
Photomath will use the fresh cash to expand its team, invest in artificial intelligence (AI) and machine learning capabilities, as well as boost product and marketing development, it noted.
With more than 220 million downloads globally, the Photomath app helps students and parents solve math problems using a smartphone.
($ = 0.8285 euro)