Amid the COVID-19 pandemic, Lingokids, a Madrid-based early learning platform, has recently raised $10 million in a Series B funding round from Ravensburger, a supplier of puzzles, games and products in Germany.
The latest round brings Lingokids' total fundraising to $23 million.
Founded in 2013, Lingokids was initially an English language learning platform for kids aged 2 to 8. It is now providing a more project-based learning curriculum.
During the school closure, the company witnessed a 50 percent increase in engagement rates from users in 2020. It is also expected to add 10 million families to the platform by the year's end, according to Cristobal Viedma, Lingokids CEO and founder.
The investment will allow Lingokids to provide more offerings based on an IP licensing agreement, offer more parent-focused content to build community and learning opportunities that reflect current events, and explore new tiers of membership, according to EdSurge.
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