Singapore-based LingoAce Raised $105M led by Sequoia Capital

singaporebased lingoace mandarin 105m series capital

App for learning Mandarin After lockdowns connected to the pandemic increased demand for its service, LingoAce secured $105 million in a round co-led by Sequoia Capital India to support its expansion.    

The Series C round, which included investors Owl Ventures, Shunwei Capital, and SWC Global, brought the total amount raised this year to $160 million, according to an announcement from Singapore-based LingoAce. Earlier this year, a $55 million round was headed by Owl and Tiger Global.    

LingoAce offers an app aimed at children between the ages of 3 and 15 and is intended to make it simple for parents to schedule and oversee their learning. As a result of the pandemic closing schools and other facilities, forcing kids to study at home, and forego numerous after-school programs, its reservations have grown by approximately 4,000% since the end of 2019.

Beijing’s crackdown on domestic virtual learning companies may work to LingoAce’s advantage as potential Chinese rivals face restrictions on their ability to grow due to regulations. LingoAce will increase recruiting in the United States, Europe, and Southeast Asia and enhance its curriculum and product by using the new funding. It also aims to broaden to include English-language programming and investigate other topics.

The rise in popularity of virtual learning technologies during the epidemic has allowed other online education providers to profit from it. In July, the language-learning software Duolingo Inc. secured $521 million at a valuation of over $6 billion, and in September, the tutoring company Vedantu became India’s sixth edtech unicorn.

Hugh Yao, the founder of LingoAce, said in email comments that “no one has developed a global brand for Chinese language teaching.” “I saw a chance to create an engaging and successful language learning environment, particularly for youngsters growing up in households where Mandarin is not a common language.”