The company currently has more than 30,000 active subscriptions. SketchyMedical has been profitable since its early days through its subscription model, which offers tiered pricing - from roughly $230 to $550 for up to two years of programming - that includes video lessons, review cards and quizzes. The company was founded by medical students for medical students in 2013 after its four co-founders used similar techniques with great efficacy while preparing for their board exams. As the internet has provided myriad more ways to connect and learn, it's become a buyer's market for students looking to differentiate themselves from their peers and ace those exams. Students pay thousands annually for medical entrance and licensing exams, flocking to big name test prep companies and paying thousands more to prepare. SketchyMedical's success is part of the recent trend toward the consumerization of education - a trend that has been rapidly accelerated by the pandemic.
"We're really looking forward to expanding our reach, making this accessible no matter what they're studying." "We are reintroducing this method in modern education that's really been lost, and the students have noticed, and it works and they're using it," said CEO and cofounder Saud Siddiqui. The funds will also help SketchyMedical bring its symbolic characters and scenes to other health professions, as well as create new ones for students preparing for the MCAT in the short term and new subjects like law over the next few years. On Thursday, SketchyMedical announced its first outside investment stake, a $30 million shot in the arm from former Hollywood executive Peter Chernin's investment firm TCG to help establish an in-house animation studio that will bring to life those famous sketches and expand its team of 30 employees.
One fan even got a tattoo of SketchyMedical's pencil representing penicillin. Such images by Los Angeles-based online education startup SketchyMedical have helped catapult the company to cult status among the med school set, who dress up in their drawings for Halloween. No, this isn't some Netflix show on the quarantine lives of the rich and famous it's actually a method SketchyMedical uses to help students recall complicated concepts. The unnamed king wears a crown and large pink robe as he grasps a tissue to his nose.
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