Allright.io receives a US$1.5 million investment
The funding will support the company’s product development, strengthening its position in the existing markets and expansion into Europe.
Allright.io is an online school for learning English as a foreign language specializing in kids aged 4–12. The company was founded in late 2017. The service has over 1,700 monthly active students, 150 teachers from all continents and conducted over 70,000 lessons so far.
Oleg Oksyuk, Founder and CEO of Allright.io said :
“The company is thrilled to receive support from investors with strong expertise in the education technology sector and e-commerce businesses. The smart money brings us closer to our goal of helping millions of kids around the world to speak English rather than just learn it”.
Mihaly Szalontay, Managing Partner at Buran Venture Capital:
“We are delighted to support Allright.io in their socially important activity of educating kids and strongly believe that they are capable to achieve ambitious goals. The way kids learn is rapidly evolving and AllRight is well positioned to disrupt the English teaching industry. Our previous experience in the online education sector makes us confident that the large size of the market coupled with low level of technology adoption leaves plenty of room for development of online services.”
About Buran Venture Capital
Buran Venture Capital is a round A venture capital fund with offices in Budapest, Moscow, Riga, Tel Aviv and Warsaw investing in technology companies founded by entrepreneurs from Emerging Europe, CIS and Israel. Key areas of investment are SaaS, marketplace and other digital service businesses.