Asian Tutoring App Snapask Raises $35 Million

Financing

Asian Tutoring App Snapask Raises $35 Million

Feb 25, 2020

Snapask, a Hong Kong-based online tutoring service provider, has raised $35 million in a new round of funding. Asia Partners and Intervest led the round.

Founded in 2015, Snapask offers an app that allows users to take photos of homework problems, after which they are connected to tutors who can help. Other features include quizzes and a writing composition course. A plan for 50 question-and-answer sessions costs about $82 a month, and unlimited sessions for four months for about $331.

The company plans to use its new capital toward growth in new markets, including Vietnam. Snapask has now raised more than $50 million in total.

The company claims to serve more than three million students ages 13 to 17 and has more than 350,000 tutors across eight Asian Pacific countries. In 2015, the company claimed to have 600 tutors and 8,000 users on its platform. It plans to reach six million users, 10 percent paid users, this year.

Tutors can earn more than $4,000 a month, but must be university students or teachers who can show proof of certification. About 15 percent of applicants have been approved.

Other companies have built mobile apps based on a similar premise, where users can take photos of homework problems and receive help. They include Photomath and Yup; at least one—Snapsolve—has closed shop.

 

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