Aussie EdTech company, 1Question raises $1.9m in its first equity crowdfunding campaign

A groundbreaking Australian app that remedies one of the biggest issues facing parents (kids being glued to their devices for up to 4.5 hours each day), has raised more than $1.947 million  in its crowdfunding raise with OnMarket.

1Question Co Founder, Ann Elnekave was ecstatic by the amount raised and how recent news from Apple will accelerate its expansion into the US.

“1Question is unique in the world of apps – it requires a child to answer a quick study question before they can open their favourite apps, much like flashcards, or a parent helping a child revise by asking random unexpected questions!,” said Ann Elnekave.

“We had 454 investors resonated with the need to turn screen time into productive time. If you want to open TikTok, yeah sure, but first, what’s 7×8?”

“Engagement is the holy grail of educators. 1Question has cracked the code for students by blending screen time and study to maximise your child’s valuable and existing engagement.”

What does 1Question plan to do with this crowdfunding?

The money raised will be used to scale the app globally, which now seems closer than ever following Apple’s announcement last week it will release its Screen Time API. 

This is Apple’s recognition of a new category of apps that help you manage your screen time.

This is 1Question‘s core space, thus completely de-risking 1Question’s platform compliance as both Android and iOS are now committed to providing the infrastructure needed to deliver.

“This is a huge advantage for 1Question, and results in a 6 month fast tracked entry to the US market… as soon as August this year! Our first mover advantage will mean our app will be one of the first in the world to offer screen time management in the Apple store.”

Memorandum of Understanding with IQU Group

Another reason why investors jumped at 1Question’s raise was the app’s signing of a significant Memorandum of Understanding with one of Australia’s leading manufacturers of Smartphones and Tablets midway through the raise.

With IQU Group the app will be preinstalled on the range of IQU Group’s mobile devices.

“This MOU is significant because these are the types of phones parents often buy their children – they are very affordable and can easily house all the apps kids are using which is a great opportunity to integrate 1Question into their screen time as a revision tool.”

“We’ve already had students asking us to add more content to help them revise for their upcoming exams.” continued Ann Elnekave.

1Question was launched in the App Store and Google Play Store in April 2021 and has already had over 13,000 downloads.

The app’s raise has been driven by a global market approaching 1.5 Billion students in K-12, a first mover advantage, advanced AI, and the management team.

Investments in the Edtech (Education-technology) space have skyrocketed  from $500 million in 2010 to $76.4 billion in 2019 and is expected to top USD$350B by 2027, And, as classrooms transition further into a digital space, those numbers are expected to grow.

1Question works by downloading the app on your child’s phone, telling 1Q your child’s school grade, selecting the curriculum subjects you would like your child to learn, and which apps can only be ‘unlocked’ by correctly answering a math question, every time they are accessed.

Parents can also download the 1Question Parent app, which allows them to remotely make changes to their child’s learning settings and provides an advanced AI driven, real time, dashboard of their child’s progress.

“We designed the user experience to be really simple, but underneath the hood is our incredibly intelligent AI engine,” said Issac Elnekave, Co-Founder of 1Question.

“As your child learns, so does the AI, which seamlessly deciphers each child’s areas of strength and weakness and autonomously charts a customised path for their learning.

After a 14 day free trial period, 1Question costs only $2.99 per month for access to the 1Question platform and unlimited educational content. The Parent App is available free of charge to monitor your child’s activity and 1Question takes privacy seriously.

“We don’t own your data – you do, we use the data we collect solely to improve the learning experience, we don’t and never will sell your data or advertise to children” says Ann Elnekave.