Magma Math secures $40 million Series A funding led by Five Elms Capital
Deal News | Nov 26, 2024 | Osborne Clarke
Osborne Clarke's Swedish office has advised on a significant Series A funding round where Five Elms Capital invested $40 million into Magma Math, a prominent educational platform specialising in K-12 math instruction. The funding will support the platform’s strategic aims of enhancing its curriculum, bolstering user experience through AI innovations, and scaling operations particularly in the US, UK, and Sweden. The investment round featured participation from prior investors, team members, and educational sector experts. Magma Math, created in 2015 and expanding successfully in Sweden, has formed educational partnerships across over 30 US states since 2021. The advisory team at Osborne Clarke was led by corporate partner Mikael Nelson, emphasizing the venture's potential to further transform digital math education. Five Elms Capital, known for investing in high-growth software ventures, continues its tradition of supporting companies in leading market positions.
Sectors
- Educational Technology
- Venture Capital
Geography
- Sweden – Magma Math is headquartered in Sweden, and Osborne Clarke's advisory team is also based in Sweden.
- United States – Magma Math has expanded into the US, securing partnerships across over 30 states.
- United Kingdom – The investment will also be used to enhance operations in the UK.
Industry
- Educational Technology – Magma Math operates within the educational technology industry, providing a digital platform that revolutionizes K-12 math instruction.
- Venture Capital – Five Elms Capital is involved in the venture capital industry as a growth investor leading the funding round.
Financials
- $40 million – The total amount invested by Five Elms Capital in the Series A funding round for Magma Math.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Magma Math | Target Company | Company | A leading K-12 math instructional platform aiming to expand and innovate in math education. |
| Five Elms Capital | Investor | Company | A growth investor specializing in world-class software businesses. |
| Osborne Clarke | Legal Advisor | Company | An international law firm advising Five Elms Capital on their Series A investment in Magma Math. |
| Mikael Nelson | Corporate Partner | People | Partner at Osborne Clarke Sweden, leading the advisory team on this investment deal. |
| Oscar Widen Einarsson | Senior Associate | People | Senior associate at Osborne Clarke who worked on the transaction. |
| Beatrice Suomela | Senior Associate | People | Senior associate at Osborne Clarke who worked on the transaction. |
| Natalin Kabro | Associate | People | Associate at Osborne Clarke who worked on the transaction. |
| Magdalena Jener | Associate | People | Associate at Osborne Clarke who worked on the transaction. |
| Rafal Kozlowski | Partner | People | Partner at Osborne Clarke Poland who contributed to the advisory process. |