Istruzione e Formazione
Novakid Raises $4.25M in Series A Financing to Reinvent Online ESL Learning for Kids
Incorporated in the US with development and customer support offices around Europe with over 150 highly qualified staff, Novakid will use proceeds from Round A to support its stellar growth by fostering marketing activities and further product innovation.
"Novakid is reinventing English learning for kids in countries where English is not a primary spoken language. It implements a unique format that combines a highly-interactive digital curriculum with individual live tutor sessions for a 100% language immersion," said , Co-founder and CEO, Novakid. "Novakid's goal is to improve the world via fostering a communication without borders for the 21st century."
Partner at PortfoLion, commented: "Novakid attracted investor attention due to its excellent traction, which resulted in over 500% growth year-on-year both in terms of number of students and in terms of revenue. Other attractive points were strong customer retention, international business footprint and a solid monetization via paid subscriptions."
"Worldwide, the COVID-19 pandemic has proven to be a turning point for the demand for online language learning, and rapid growth is expected over the next 5 years with CAGR of 11-14%. Novakid offers an excellent alternative to brick and mortar language schools. Its online learning platform is a more attractive product to digitally-native generation of kids, while keeping them and their parents safe," comments , Managing and Founding Partner at LearnStart.