Magma Math celebrates $10 million funding round to support its global expansion and AI innovation
Magma Math, an AI-powered platform for K-12 teachers, has announced the closure of a $10 million funding round from current investor Five Elms Capital.
The investment will be used to support the company’s global expansion and further innovation in AI.
By combining math pedagogy with AI technology, Magma Math says it has demonstrated measurable gains in classrooms including an up to 400 percent increase in math outcomes compared to classrooms without its software.
"Our vision is clear: AI is the engine powering the future of math learning," comments Henrik Appert, CEO and Co-founder at Magma Math. "This funding allows us to double down on innovation, support teachers with smarter tools, and continue building a thriving, mission-driven company at the forefront of EdTech."
Five Elms Partner Joe Onofrio adds: "Magma Math has demonstrated exceptional product-market fit in addressing one of education's most pressing challenges: raising math proficiency at scale through AI-driven instruction. We're excited to partner with Henrik and the team as they work to improve mathematics achievement across the US, UK, Sweden, Germany and beyond."
Magma Math combines human insight with AI to supports formative assessment, mathematical discourse, and deep conceptual understanding while integrating seamlessly with classroom technology to drive lasting academic success.
The ETIH Innovation Awards 2026
The EdTech Innovation Hub Awards celebrate excellence in global education technology, with a particular focus on workforce development, AI integration, and innovative learning solutions across all stages of education.
Now open for entries, the ETIH Innovation Awards 2026 recognize the companies, platforms, and individuals driving transformation in the sector, from AI-driven assessment tools and personalized learning systems, to upskilling solutions and digital platforms that connect learners with real-world outcomes.
Submissions are open to organizations across the UK, the Americas, and internationally. Entries should highlight measurable impact, whether in K–12 classrooms, higher education institutions, or lifelong learning settings.
Winners will be announced on 14 January 2026 as part of an online showcase featuring expert commentary on emerging trends and standout innovation. All winners and finalists will also be featured in our first print magazine, to be distributed at BETT 2026.
