Enuma Inc. has closed $4M in a round of financing from top-tier Korean impact investors. Enuma develops game-based education software to help all children — particularly those who struggle to learn due to physical, cognitive, cultural or economic constraints — learn basic reading, writing and math independently. The company is best known for Todo Math, a multiple-award winning math app that launched in 2014 and has charted more than five million downloads worldwide. To provide early education to children in developing countries, Enuma developed Kitkit School, which was selected as one of five finalists in the ongoing $15M Global Learning XPRIZE competition.
“Digital education for young children has demonstrated its merits and effectiveness in developed countries, and the market is beginning to mature,” said Enuma Founder and CEO Sooinn Lee, an Ashoka Fellow. “With this investment, we will develop partnerships around the world and create a viable model to reach children who are underserved by traditional education systems.” The Seoul based impact investors YellowDog, HG Initiative and C Program led this round of financing. NX Venture Partners and DSC Investment also participated. “We decided to invest in Enuma because the company’s vision of creating a world where all children become independent learners resonated with us deeply,” said Hyunjoo Je, Director of YellowDog. “I am especially pleased to invest alongside other institutions that share our philosophy of impact investing. Together, we will support Enuma as it continues to lead the field in creating a new model of early education.”