That’s a wrap — we’re proud to announce that we closed our Series B funding round! It’s led by our new investor (and partner) Ravensburger, a German games and puzzles publisher with almost 100 years of experience in playful development. Other existing investors participating in this round are HV Holtzbrinck Ventures, JME Ventures, All Iron Ventures, 500 Startups, Athos Capital, and Sharpetown.
Series B Funding Round Goals
As you probably know, here at Lingokids we have a serious love for playlearning™. With this new $10 million in funding, we plan to take it to the next level. Our goal is to improve the quality of playlearning™ and make it more accessible to families around the world because early education is more important now than ever. All our efforts will bear in mind the unfortunate consequences that Covid-19 has had on early education. With this funding we’ll launch new initiatives to help mitigate this impact. We’re excited to work together with Ravensburger to meet this challenge head on.
Some more good news: Last May, Lingokids launched a study seeking to understand how Covid-19 has affected early education. What we found out was that more than 85% of parents are interested in having their children learn soft skills. Our teachers and game designers will create more activities centered around 21st-century skills (like creativity, communication, collaboration, and critical thinking) in addition to STEM games.
Lingokids & Ravensburger, the perfect combo!
In addition to being our primary Series B investor, Ravensburger has become one of our strategic partners. With a mission centered around playful learning (sounds familiar, right?), we’re eager to work together. Wondering what to expect? We’ll be developing new games for children around the world and working to bring to life the concept of a 360º learning experience at home.
“What’s most exciting here is the fact that both companies share the same goal – prioritizing education in a way that is accessible for children so they can spend more time dedicated to quality playful learning,” says Cristóbal Viedma, CEO, and co-founder of Lingokids. “Lingokids has shown an impressive capability to develop and deliver innovative digital learning experiences for children around the world,” says Thomas Bleyer, Group Director, Corporate Development at Ravensburger.
With more than 20 million families using Lingokids, we’ve tripled our growth since the beginning of the year and want to say a massive thank you. This investment will help us achieve even more wonderful things.