Hugh Yao, a former executive at IBM, Oracle, and Salesforce, moved to Singapore from Beijing in 2012. His son, who was then three years old, could barely speak English or his native language, Mandarin Chinese.
It was relatively easy for Yao to ensure that his son learned English. But for Chinese-language learning, he found that his options in Singapore were much more limited. To address this challenge, the tech executive set up an edtech platform called LingoAce in 2017.
Photo credit: LingoAce
Through LingoAce, students worldwide can participate in real-time classes with teachers who are native Mandarin speakers. The platform focuses on gamifying content – developed in-house – for children between the ages of 3 and 15. It also leverages multimedia and AI-powered tools for language learning.
Today, LingoAce has users across more than 100 countries, with paying customers increasing 40x over the last two years, Yao told Tech in Asia.
The company is now gearing up for its next phase of growth. In line with this, LingoAce has raised US$105 million in its series C funding round, which was led by Sequoia Capital India. Owl Ventures, Shunwei Capital, and SWC Global also participated in this round.
LingoAce’s total funding stands at US$180 million to date, with US$160 million raised this year alone.
The edtech firm will use the fresh funds to invest in product development, sales and marketing, and market expansion. It’s also looking to accelerate hiring in the US, Europe, and Southeast Asia.
See also: Indonesia’s top edtech apps aren’t the usual suspects
LingoAce has already more than doubled the headcount at its Singapore headquarters this year from 60 in 2020. Some of the notable new hires include ex-Goldman Sachs executive Marshall Roslyn, who serves as LingoAce’s CFO and chief strategy officer, and former Uber executive Aik Chuan, who was appointed general manager.
As part of the current round, Sequoia India managing director Abheek Anand and Owl Ventures managing director Ian Chiu will join the board of LingoAce. Dennis Yang, the ex-CEO of Udemy, is already an advisory board member.
LingoAce CEO and founder Hugh Yao / Photo credit: LingoAce
“With the backing of our investors, we plan to continue to scale our platform to reach more audiences and ensure that more children across the globe will continue to have access to quality online educational experiences,” Yao said in a statement.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
