Language Learning Market opens seed round
McKinney-based Language Learning Market, which operates a global online marketplace and directory for educational resources in all languages, is opening a seed round at $500,000.
The EdTech startup plans to use the funding to accelerate growth. The team said specific investments will be placed on team support, strategic partnerships, marketing initiatives, and operations, like site traffic and revenue growth. The seed round is set to close in Q1 of 2022.
“With overwhelmingly positive feedback from early investors and our extensive advisor network, we’re confident and look forward to raising these funds to advance Language Learning Market to the next level,” Allison Monroe, founder and CEO, said. LLM previously received grants from the McKinney Economic Development Corporation Innovation Fund, Impact Ventures, WomensNet, and iFundWomen.
Launched this year, Language Learning Market aims to be the most robust source for learning resources from around the world. Its three-pronged model consists of an online marketplace for buying and selling educational resources, an industry directory of educational businesses and schools, and a global media network dedicated to education for all.
The momentum comes at a time when the global language learning market is set to reach $77 billion by 2024. According to Monroe, global eLearning alone is expected to triple in four years to $350 billion.
The company, which is women-owned and minority-led, additionally has offices in Mexico, India, and Jordan.
“Last year, the future of education shifted to online learning and digital products, leading parents and educators around the world to scour the internet for the best educational resources,” Monroe said. “We bring the best in global education to one place.”