Lingokids (fka Monkimun), a San Francisco, CA-based developer of language learning services for early childhood, raised $4m in funding.
The round was led by Holtzbrinck Ventures, JME Venture Capital with participation from Bessemer Ventures Partners.
The company intends to use the funds to expand the offering, grow into new regions and reach the goal of having 15m families using its services by 2018.
Launched in 2016 and led by Cristobal Viedma, CEO, Lingokids provides subscription based language learning services for early childhood to two million families. Its current offering includes English and simplified Chinese with plans to launch Spanish in the coming months.
In conjunction with the funding, the company has also announced a new distribution agreement with educational publisher Oxford University Press to make available course-specific learning content inside Lingokids, to extend learning beyond the classroom and encourage parent participation. With this new collaboration, OUP will start bundling physical books with Lingokids and distribute the package in schools around the world.
The company had raised $1.5m in seed funding from 500 Startups, K-Fund’s founding partners, SHO-zemi Innovation Ventures, Incuvest and angel investor Gwynne Shotwell.