Ukraine-based English language learning app AllRight has raised US$ 5M in a Series A funding round held in November 2020, led by Genesis Investments along with participation from TMT Investments, TerraVC and previous investors Flashpoint and Misha Lyalin.
Proceeds from the funding round will be used to enter new markets and fortify its positions in Poland, Russia, Spain and Latin America.
Founded in 2017 by Oleg Oksyuk, AllRight is a platform for English language learning for children aged 4-12. Its lessons consist of real tutors and homework with AI-driven tutors. The platform connects over 2,500 registered students with over 250 teachers from all continents. The app strives to help millions of kids around the globe to speak in English rather than just learning it. They utilize Skype for conducting the lessons so that tutors can effectively conduct online lessons, even while abroad. Around 1.5 billion individuals are learning the English language globally out of which the number of children among them touched 500 million in 2020.
AllRight targets regions with low online education penetration rates, such as emerging markets. Since its inception in 2017, AllRight has launched Spanish-English, Polish-English and Russian-English language pairs and gained 9,000 students, who take 50,000 lessons per month. Lessons take place through a real-time collaboration platform for teachers and students, where online live lessons are quality controlled by AI with the presence of an AI-powered tutor and a voice-only interface with speech recognition and synthesis. This enables children to practice speaking English with AI. The app has also clearly benefited from the COVID-19 pandemic since many lessons in schools are now conducted virtually.
Founder Oleg Oksyuk said the startup’s pilot language pair that was launched 3 years ago showed that learning a language with gamification in early childhood generates outstanding results. That is why in March 2019 they started working towards the delivery of an inexpensive edutainment program and launched Spanish-English and Polish-English language pairs.
AllRight has multiple competitors which include Open English (based in Florida, USA), LingoKids (based in Delaware, USA), MyBuddy (based in San Francisco), Preply (based in Ukraine) and NovaKid (based in Poland).
General Partner of Genesis Investments Vitaly Laptenok said: “This is the biggest deal of Genesis Investments by date. The platform currently demonstrates 3x year-over-year growth and the team supports these dynamics by entering new markets and scaling there.”
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