Interaction with learners

LingoAce Raises $ 160 Million in New Funding Amid Rapid Global Expansion

SINGAPORE & SAN MATEO, California– (COMMERCIAL THREAD) –LingoAce, a Singapore-based global education technology company and leading Mandarin Chinese learning platform, today announced that it has raised $ 160 million in new funding this year. Today, the company closed a $ 105 million Series C funding round led by Sequoia Capital India with participation from Owl Ventures, Shunwei Capital and SWC Global. It comes less than a year after a previously undisclosed $ 55 million funding round led by Tiger Global and Owl Ventures. With the new funding, LingoAce has raised $ 180 million in total funding to date.

LingoAce is transforming the way children learn Mandarin Chinese, the world’s second most spoken language, by creating a fun and engaging educational experience for students with tools that allow parents to easily plan, schedule and monitor learning. their children. Today, LingoAce reaches a global base in over 100 countries and regions. According to the most recent study (2021) by the United States Councils for International Education, Chinese is now the second most popular foreign language taught in double immersion programs in American public schools. Growing interest in language teaching and the rapid adoption of e-learning during the COVID-19 pandemic has resulted in an almost 4,000% growth in bookings for LingoAce since late 2019.

“At LingoAce, we believe that the opportunity to learn a new language can open up a world of possibilities for children,” said Hugh Yao, CEO and Founder of LingoAce. “With the support of our investors, we plan to continue to evolve our platform to reach more audiences and ensure that more children around the world will continue to have access to online educational experiences. quality. ”

In addition to funding, LingoAce is also announcing the hiring of longtime education technology industry veteran Marshall Roslyn as CFO and chief strategy officer for the company. Marshall joined LingoAce earlier this summer after spending nearly a decade building and helping lead the Education Technology & Services Investment Banking practice at Goldman Sachs, originally in San Francisco and most recently in Hong Kong as as responsible for the business sector in Asia. As part of the roundtables, Abheek Anand, Managing Director of Sequoia India and Ian Chiu, Managing Director of Owl Ventures, will join the LingoAce Board of Directors. Dennis Yang, former CEO of Udemy, has also joined the company’s advisory board.

“Combining academic rigor and cutting edge technology, LingoAce has built a vibrant global platform for children to learn Mandarin Chinese and more. I am delighted to have joined Hugh and the team on their journey to shape the future of education, ”said Dennis Yang.

The new funding will be used to advance LingoAce’s mission to make learning new languages ​​fun, immersive and interactive for children. It will also be used to grow the global team with significant recruitments underway in the United States, Europe and Southeast Asia, to strengthen both program and product development, and to expand support to sales and marketing. In the United States, which is LingoAce’s largest market, the company plans to expand its workforce rapidly and is actively recruiting for positions in these roles.

While LingoAce has built its market leadership through its Mandarin Chinese offering, the company also plans to further develop new English programs and explore other topics to meet the continued demand for language education. global scale.

“Demand for virtual learning across the world has increased due to the pandemic, and LingoAce’s strong curriculum, innovative digital content and platform, as well as its talented team of educators and executives have helped generate impressive business growth and user acquisition during this time. As they seek to expand beyond Mandarin Chinese and continue to expand globally, Sequoia Capital India is excited to deepen the partnership with Hugh Yao and his team, ”said Abheek Anand, Managing Director of Sequoia India.

LingoAce was founded by Hugh Yao, who abandoned a well-established career in technology to disrupt traditional models of language teaching, with his young son as his first user. Today, LingoAce has a team of over 4,000 professionally certified teachers with CTCSOL international accreditation for teaching Mandarin Chinese to students around the world. Based on a globally accredited curriculum, these learning experiences are designed in-house by LingoAce’s team of curriculum and education specialists, as well as experts in multimedia, animation and gamification. After the course is delivered, computer-aided technology is used to assess the quality of instruction and refine the curriculum and the learning experience. Live, small-group lessons with high-quality trained teachers also provide learners with real-time feedback and interaction to deliver effective and efficient learning.

About LingoAce

Founded in 2017, LingoAce is a Singapore-based global education technology company and a leading Mandarin Chinese learning platform, providing an immersive language learning experience tailored to meet the needs of learners aged three. at age 15, across a range of language proficiency levels and diverse cultural backgrounds. A committed partner of young learners and their parents, LingoAce harnesses the abilities of passionate teachers as well as research-backed digital content, including animation, gamification and AI, to effectively deliver authentic and interactive online Chinese lessons. With offices in the United States, Southeast Asia, and China, LingoAce serves students in 100 countries and regions. By nurturing the next generation of confident multilingual communicators, LingoAce aims to broaden their horizons and open up future opportunities for these students. More information can be found at www.lingoace.com.

LingoAce is actively recruiting in all markets – if you’re interested, check out all available positions at https://apply.workable.com/lingoace/?lng=en.

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