Singapore-headquartered LingoAce has raised US$105 million in Series C funding led by Sequoia Capital India, and included Owl Ventures, Shunwei Capital and SWC Global. The latest round, which brings total funding to US$180 million, will be used to scale the Chinese language learning platform for children and drive global expansion.
With a global base across more than 100 countries and regions, LingoAce has witnessed growing interest in language education and rapid adoption of online learning through COVID-19. This has resulted in 4,000 percent growth in bookings globally since the end of 2019. In Southeast Asia alone, growth was more than 2,000 percent from 2020.
“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,” said Hugh Yao, CEO and Founder of LingoAce.
In Singapore, LingoAce has more than doubled its headcount from 60 employees at the end of 2020, and is continuing to further expand.