Novakid Acquisition news – Novakid has Acquired EFL app Lingumi

It provides a platform for students of all ages to study English regardless of financial situation and serves as an alternative to tutoring.Since its founding in 2017, Novakid has provided children with online English education using a curriculum consisting of 25-minute learning blocks and qualified teachers.

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Due to their quick expansion, Owl Ventures and Goodwater Capital contributed $35 million to a Series B round of funding, which allowed the company to reach its profit goals by 2023.

With over 2 million users for its English speaking and phonics courses, Lingumi has grown to become one of the most well-liked English learning applications in Asia. What's more, an industry-leading 70% of its paying customers are continuing taking lessons after a year.

Max Azarov, CEO and co-founder of Novakid said, “Acquiring Lingumi opens new doors for learners on the Novakid platform, Students can explore a learning ecosystem that combines AI-driven tools, self-paced learning apps, and live, online practice with native English teachers.This environment is enhanced with age-appropriate gaming features, ensuring a seamless and engaging experience”.

Toby Mather, CEO and co-founder of Lingumi, along with a team of eight will join Novakid aspart of the deal to lead a new division, Novakid Junior. Services for existing Lingumi customers will continue, and Novakid customers can expect to receive a new self-led learning product, built using Lingumi’s technology platform, in early 2025.

About Novakid

A platform for teaching English as a second language (ESL) that makes use of gamification, AR/VR, and machine learning is called Novakid. It is currently the top online English school in Europe, providing individualized instruction to kids ages 4 to 12.