Stories of Impact: EIC pilot-funded company Lingokids secures $7.3 million to improve its early childhood English learning platform
Lingokids is a subscription-based platform that teaches English to children ages 2 to 8 through a series of activities, games, and songs that adapt in difficulty to each child’s level allowing for a fun and personalized learning experience. Launched in 2016, Lingokids now has more than seven million families registered across more than 180 countries and has been growing at a rate of 300% each year.
“There is a growing interest in English language learning in early childhood, with market figures suggesting that at least 500 million children under the age of 8 will be learning English by 2020. We will continue to satisfy this demand and tackle English literacy around the world by offering high quality educational content at an affordable price.”, explained Cristobal Viedma, Lingokids founder and CEO to EU-Startups.com.
The company has raised $6 million in a series A round of funding led by Holtzbrinck Ventures, with participation from existing investors JME Venture Capital, Sabadell Ventures, Big Sur Ventures and Gwynne Shotwell (COO of SpaceX). New participants include Silicon Valley ed-tech investor Reach Capital, Athos Capital, and All Iron Ventures.
According to EU-Startups.com, the fresh capital will go towards three main purposes: accelerating growth, acquiring new talent, and developing new features for the app. The platform also aims to double its original content offering to more than 2,000 learning activities by the end of 2019.