SketchyMedical, an online education company that teaches complex concepts through visual memory techniques, has received a majority-stake investment of $30 million from private equity firm TCG.
The investment will be used to scale the Los Angeles-based company’s growth and establish an in-house studio for live content and animation for tackling new subjects.
Founded in 2013 by four medical students, SketchyMedical uses the memory palace technique to help students remember information.
A memory palace is a metaphor for any well-known place that students can visualise easily such as the inside of their homes, or the routes they take to school every day.
SketchyMedical offers tiered subscriptions that include a comprehensive set of video lessons, with complementary review cards and quiz questions. Each video depicts memorable scenes illustrated layer by layer, in real time, as the narrator guides students through a story to help with the memorisation process.
The company claims that students that have used SketchyMedical have a 30% improvement in recall compared to reading a textbook passage.
SketchyMedical’s co-founder and chief executive Saud Siddiqui said: “SketchyMedical was born out of the real-life problem my co-founders and I encountered while preparing for our own board exams in med school. We never planned on starting a company, but it was the only way to share our sketches and study method with our peers. With TCG’s operational support and creative expertise, we will be able to provide new offerings to students beyond medical school.”
Mike Kerns, co-founder and partner at TCG, said: “Students love how the SketchyMedical team leverages the powerful combination of creativity and animation to make the tedious task of memorisation more fun. The possibilities are endless for this approach to learning, and we’re looking forward to helping them scale the business and grow their passionate user base.”
SketchyMedical offers courses in microbiology, pharmacology, pathophysiology, biochemistry, internal medicine, surgery, pediatrics, and obstetrics and gynecology. While the company
Date published: 29 September 2020