San Francisco, California--(Newsfile Corp. - September 19, 2024) - Novakid, the online school transforming how children aged 4-17 learn English, has acquired UK-based EFL app, Lingumi in a landmark deal. The partnership will bring hundreds of thousands of users to Novakid, advancing the mission to make high-quality English education accessible to young learners. Offering an affordable alternative to costly tutoring, it empowers learners of all ages with an engaging, intelligent platform to master English, regardless of income.
Since it was founded in 2017, Novakid has offered online English classes for children using an innovative curriculum with 25-minute learning blocks and trained educators. Their rapid growth led to a Series B raise of $35 million from prestigious firms that include Owl Ventures and Goodwater Capital, with the company achieving its profit targets in 2023. Today Novakid has more than 70,000 active users in more than 50 countries.
Lingumi, founded in 2016 and backed by top European investors, including Entrepreneur First and LocalGlobe, creates AI-assisted, interactive lessons for learners aged 2-6 years. Lingumi has quietly become one of the most popular English learning apps across Asia, with over 2 million users for its English speaking and phonics courses, and an industry-leading 70% of its paying customers still taking lessons after 12 months.
"Acquiring Lingumi opens new doors for learners on the Novakid platform," said Max Azarov, CEO and co-founder of Novakid. "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."
"By allowing learners to access quality English learning for free and from as early as two years old, we're widening access for many more children around the world," Azarov adds.
The deal value was not made public but is understood to have involved separating out Lingumi's significant China business, which will be spun out and remain independent, and its remaining customer base, UK team and technology, all of which have been acquired by Novakid.
Toby Mather, CEO and co-founder of Lingumi, along with a team of eight will join Novakid as part 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.
Significantly, the acquisition will provide families with a universally affordable alternative to individual tutoring, which could cost more than $100/month, enabling anyone, anywhere to learn English as a second language, no matter the income level of the parents. Dmitry Malin, Co-founder and COO of Novakid, noted that "self-learning using an AI tutor is set to become increasingly normal. When added to all the social benefits that spending time with human tutors provides, it is transformative. This deal accelerates the development of our self-learning products, opening more time- and cost-efficient learning pathways for customers."
Lingumi's technology will bring multiple features to Novakid, including a self-serve learning game platform, AI-powered 'smart conversations' in English, and hundreds of interactive lessons aligned with CEFR standards. The team will also develop a new freemium app for younger learners.
Human tutoring remains a core, premium offering in a blended learning journey. "We've always focused on helping young learners achieve a meaningful English level through our courses," said Lingumi CEO Toby Mather. "We've never had a live teaching platform for them to 'graduate' to. With this partnership, we are now offering a complete curriculum and a variety of products for children of all ages, abilities, and with varying price points for parents."
The move signals a pivotal moment for the European edtech ecosystem. After a quiet period for M&A in the wake of the pandemic, Novakid's acquisition of Lingumi ushers in a renewed focus on delivering accessible, results-driven education for learners around the world.
Notes to the Editor:
Novakid is an online English language school for children ages 4+, using a proprietary interactive curriculum taught by trained educators to engage and effectively teach young learners around the world. Founded in 2017 by ex-Googler Max Azarov and serial entrepreneur Dmitry Malin, the platform is used by over 70,000 families for tutoring and AI-driven self study.
LinkedIn: https://www.linkedin.com/company/novakid/
About Lingumi
Lingumi is an education platform focused on creating AI-driven, interactive English lessons for kids ages 2-6. Founded on the Entrepreneur First programme in 2015 by Toby Mather and backed by investors including LocalGlobe and Legal & General, their app has been used by over 2 million families around the world, with a focus on East Asian markets.
Photos of the team can be downloaded here: Dropbox
For more information, please contact:
Dominique Harmse
PR Team Lead
dominique.harmse@novakidschool.com
+447932 928 310
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223725
SOURCE: Novakid
