Early learning platform Lingokids has generated an additional US$40 million in funding to support new content and build its team.
GP Bullhound and existing investors including HV Capital and Seattle-based puzzle maker Ravensburger participated in the series C funding round.
Lingokids, which has raised a total of US$65 million since its launch in 2016, features games and activities that teach kids ages two to eight literacy, math and social-emotional skills.
The company plans to use the capital infusion to expand its content catalogue and fill gaps that have been created by a disrupted school year, according to a release. Some of the new funding will go towards hiring 60 people for the content, engineering and development teams.
Lingokids will also use the money to expand into teaching emotional intelligence, empathy and critical thinking. And it plans to develop its first audiobooks and audio content focused on mental health, mindfulness and meditation.
And finally, the edtech company intends to invest in developing more personalization features for its content and platform so that kids of all ages can learn more effectively at their own level, says CEO Cristobal Viedma. Over the coming months, this will involve adding more co-play offerings, creating offline resources and partnering with educational institutions and experts to increase content output and improve quality.
More than 30 million families currently use the Lingokids app, which saw a boost in users during the pandemic, says Viedma.
International growth is a priority, he says, though 60% of families using Lingokids are based in the US, and broadening the platform’s Stateside reach is a goal as well.
To drive some of these changes, Lingokids hired former Deezer and Nokia alum Vladimir Klimov as director of content strategy last month to scale the part of its business. And in January, former Cabify head of product Tiago Pregeuiro joined as VP of product.