qLearning, the Berlin-based mobile studying app for iOS and Android, has raised a low seven-digit amount from VC Senovo and IBB, and former investors M-Investar, K5 and hub:raum, the incubator of Deutsche Telekom. The amount of shares given in exchange was not disclosed. The investment will be used to geographically expand qLearning’s business, most likely to the U.S.
After being founded in February 2012, when the founders (Lukas Murmann, Korbinian Weisser, Jonas Hoffmann, Felix Klühr and Silviu Apostu) were all still students themselves, qLearning later moved to Berlin and participated in hub:raum’s incubator program.
qLearning offer flashcards that are made by tutors to let students prepare for exams. Besides that, students can also use multiple choice questions or play against each other.
While it is generally free for students to use, premium content is available for a fee. However, qLearning stated that most of its income comes from employer branding. So far, 23 brands are on board. To reach the right target group of students, advertisers can chose in which module groups their advertising (e.g. for hiring) will be shown. Among them, you’ll find names such as Deutsche Bank, Ernst & Young, and Roland Berger.
With a product that has passed the MVP level, the investment will now be used for expansion rather than product development. While the company only stated it would focus on expanding to countries outside of Europe, it is almost safe to say qLearning plans to launch in the United States.