Mandarin Chinese learning platform LingoAce raises $160 million in new funding amidst global expansion
2021-12-05 17:03:58

LingoAce, a Singapore-based Mandarin Chinese language learning platform, closed on a $105 million in Series C funding round, led by Sequoia Capital India, with participation from Owl Ventures, Shunwei Capital and SWC Global, said the company in a statement.

This comes less than a year after a previously undisclosed $55 million Series B round, led by Tiger Global and Owl Ventures. With the new funding, LingoAce has raised $180 million in total funding to date.

The company said the new funding will be used to grow the global team with significant hiring underway in the United States, Europe and Southeast Asia, to strengthen both curriculum and product development, and to scale sales and marketing support.

In the United States, which is LingoAce’s largest market, the company has plans to rapidly grow headcount and is actively hiring for positions across these functions.

While LingoAce has built its industry leadership on the back of its Mandarin Chinese offering, the company also plans to further develop new English language programs and explore other subjects to meet the continuing demand for education globally.

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