Singapore’s LingoAce to expand into Indonesia after $6m capital raise

LingoAce, a Singapore-based edtech firm, announced plans to expand its services to Indonesia, capitalizing on the surge in online services brought about by the coronavirus pandemic.

Photo credit: MaxPixel

According to the company, it will be hiring over 500 local employees who will cater to 200,000 registered students in Indonesia by 2022. The company is looking to build a full operations unit in the country with teams in customer service, operations, and marketing fields. As for its first product in the market, LingoAce is planning to launch online Mandarin lessons.

Currently, the edtech firm has a team of over 2,000 certified teachers who deliver lesson plans in real time in one-on-one and small group classes across Singapore, Beijing, Wuhan, Los Angeles, and Bangkok. To date, it claims to have delivered lessons to more than 100,000 registered students across 80 countries.

See also: Indonesian edtech’s biggest challenges

Its expansion into Indonesia comes after it raised US$6 million in a series A+ round led by Sequoia Capital India and Shunwei Capital this month.

In 2020, the edtech industry is expected to grow globally to US$85.8 billion and to US$181.3 billion by 2025, according to a report by MarketsandMarkets.

Since its launch, LingoAce has raised a total of US$16 million in funding over four rounds.

See also: Indonesian edtech’s unexploited opportunities