When was Magma Math founded?

Magma Math was founded in 2015 and raised its 1st funding round 9 years after it was founded.

Where is Magma Math located?

Magma Math is headquartered in Stockholm, Sweden.

How many employees does Magma Math have?

As of Mar 01, 2026, the latest employee count at Magma Math is 10 - 49.

Is Magma Math a funded company?

Magma Math is a funded company, having raised a total of $50M across 2 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Nov 20, 2024.

When was the latest funding round of Magma Math?

Magma Math's latest funding was a $***** Series A round on Oct 20, 2025, with participation from 1 investor. Its primary sector is K-12 EdTech. Globally, the K-12 EdTech sector has seen $354M in funding in 2026 to date.

Where does Magma Math rank among its competitors?

Magma Math ranks 10th amongst 687 active competitors, of which 69 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was Magma Math, which secured $10M in Oct, 2025.

Who are the top competitors of Magma Math?

Magma Math's top competitors include Renaissance, Formative and Xello. Among them, Magma Math secured the most recent funding round in October, 2025.

Magma Math - 2026 Company Profile, Team, Funding & Competitors

Magma Math is a series A company based in Stockholm (Sweden), founded in 2015 by Henrik Appert and Arvid Gilljam. It operates as a Provider of a digital math tool for teachers. Magma Math has raised $50M in funding from Five Elms Capital. The company has 687 active competitors, including 69 funded and 40 that have exited. Its top competitors include companies like Renaissance, Formative and Xello.

Company Details

Provider of a digital math tool for teachers. The solution combines handwritten solution technology, a standards-aligned curriculum, and comprehensive data analysis. It allows teachers to see solutions written by students and provide feedback.

Website: www.magmamath.com/
Social
Email ID: *****@magmamath.com
Phone Number: +46 **********

Key Metrics

Founded Year

2015

Location

Stockholm, Sweden

Stage

Series A

Total Funding

$50M in 2 rounds

Latest Funding Round

Series A, Oct 20, 2025, $*****

Investors

Five Elms Capital

Ranked

10^th among 687 active competitors

Employee Count

10 - 49 as on Mar 01, 2026

Similar Companies

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View Magma Math's full profile

Magma Math has raised a total funding of $50M over 2 rounds. Its first funding round was on Nov 20, 2024. Its latest funding round was a Series A round on Oct 20, 2025 for $*****. 1 investor participated in its latest round. Magma Math has 1 institutional investor.

Here is the list of recent funding rounds of Magma Math:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Oct 20, 2025	4402165	Series A	1423614	6928105	5104535	3332938
Nov 20, 2024	4295324	Series A	5875605	2819376	Five Elms Capital	5362122

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View details of Magma Math's funding rounds and investors

The founders of Magma Math are Henrik Appert and Arvid Gilljam.

Here are the details of Magma Math's key team members:

Henrik Appert: Co-Founder of Magma Math and founder of 2 other companies, Magma and Matteappen.
Contact Info: 1 email address
Arvid Gilljam: Co-Founder of Magma Math and founder of 2 other companies, Magma and Matteappen.
Contact Info: 1 email address

View details of Magma Math's Founder profiles and Board Members

Magma Math's employee count trend

Magma Math has 10 - 49 employees as of Mar 26. Here is Magma Math's employee count trend over the years:

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Top competitors of Magma Math include Renaissance, Formative and Xello. Here is the list of Top 10 competitors of Magma Math, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Renaissance 1986, Wisconsin Rapids (United States), Acquired	K-12 cloud based assessment, teaching, and learning solutions	$40M	CapitalG, Hellman & Friedman & 15 others	69/100
2nd	Formative 2013, Santa Monica (United States), Acquired	Online platform offering real-time instruction tools for educators	$70M	Summit Partners, MaC Venture Capital & 5 others	65/100
3rd	Xello 1997, Toronto (Canada), Late Stage	Provider of an online platform for developing technical and soft skills in students	-	Canadian Business Growth Fund, Fusion Partners	57/100
4th	Smartail 2019, Chennai (India), Seed	AI-based content and learning management system	$47.8K	MYCap Investments, Leaders For India Organization ... & 1 others	55/100
5th	Turnitin 2000, Oakland (United States), Acquired	Provider of plagiarism detection and assessment platform for teachers	-	Georgian, Ares Capital Corporation & 9 others	54/100
6th	Mindprint Learning 2013, Princeton (United States), Acquired	Online platform offering cognitive assessment learning solutions for children	$2.2M	Martinson Ventures, EduLab Capital Partners ... & 5 others	53/100
7th	Geekie 2011, Sao Paulo (Brazil), Series B	Learning management system provider for schools	$7M	Mitsui, Omidyar Network & 3 others	52/100
8th	TagHive 2017, Seoul (South Korea), Series A	Provider of AI-powered, Bluetooth clicker-based educational solutions for students and teachers	$2.5M	Forest Partners, Samsung Venture Investment ... & 2 others	51/100
9th	Eedi 2015, London (United Kingdom), Series A	Developer of diagnostic engines and infrastructure for educational assessment tools	$3.87M	LEGO Ventures, HV Capital & 5 others	50/100
10th	Magma Math 2015, Stockholm (Sweden), Series A	Provider of a digital math tool for teachers	$50M	Five Elms Capital	50/100