ABA English, a Barcelona, Spain-based online English language academy with over 10 million users worldwide, raised $12m in growth capital.
The round was led by Kennet Partners, an international growth equity firm, with participation from existing investor Nauta Capital and Iñaki Ecenarro, the former founder and CEO of Trovit, the virtual search engine for classified ads, sold to NEXT Co in 2014 for $90m. In conjunction with the funding, Hillel Zidel, Managing Director at London based Kennet Partners, will join the Board at ABA along with Ecenarro.
The company intends to use the funds to further develop its methodology, to continue its international expansion, especially in target markets such as China and Turkey, and to develop its language learning method to encompass business-oriented areas.
Led by Javier Figarola, CEO and co-founder, ABA English is an online English language academy that offers a methodology based on contextual learning, translating the principles of intuitive and natural mother-tongue learning to the digital world, and using films specially developed for learning English that improve the user experience on any platform.
The platform is currently available in over 170 countries, including key territories such as Brazil, France, Italy, Mexico, Russia and Spain.
The company has 60 employees.