NovaKid, a San Francisco, CA-based online language learning platform that provides personalized English learning for kids ages 4-12 through artificial intelligence (AI) and gamification, raised $35 million in Series B funding.
The round was led by Owl Ventures and Goodwater Capital with participation from existing investors PortfoLion, TMT Investments, Xploration Capital, LearnStart, LETA Capital, and BonAngels.
The company intends to use the funds to expand into new markets in Asia, strengthen its position in existing markets (Europe and MENA), develop original educational content, and launch a new gamification platform to increase customer loyalty and satisfaction.
Company: NovaKid Inc.
Raised: $35.0M
Round: Series B
Funding Month: August 2021
Lead Investors: Owl Ventures and Goodwater Capital
Additional Investors: PortfoLion, TMT Investments, Xploration Capital, LearnStart, LETA Capital and BonAngels
Company Website: https://www.novakidschool.com/
Software Category: Edtech
About the Company: Led by Max Azarov, CEO, and Dmitry Malin, COO, Novakid is an online ESL learning platform offering individual lessons with native-speaking, certified teachers for children ages 4-12 with AI-assisted data extraction and analysis. Incorporated in the U.S., it has students in more than 40 countries, focusing on Europe and MENA, with a significant customer base in Poland, Spain, Italy, Germany, Turkey, Arab countries, and Russia. Novakid’s learning format combines an interactive digital curriculum with individual live sessions where students and native-speaking teachers use English for 100% language immersion. The platform offers digital lessons, virtual 360-degree tours, in-class games, and machine learning-based assessment of students’ progress, allowing them to adapt the program to each student.
Source: https://www.finsmes.com/2021/08/novakid-raises-35m-in-series-b-funding.html