WordDive, an AI-based mobile and online application for learning languages efficiently, recently launched an equity crowdfunding campaign on Invesdor. The company successfully secured its minimum funding target of €250,000 from over 300 investors so far.
The company, which launched in 2010, stated it combines the best of Finnish education know-how and game industry. WordDive was awarded best e-learning solution in Finland in 2011, released its iPhone app in 2014, and it was selected as one of its Top 100 European Startup Companies by tech publication Red Herring in 2015. The company revealed:
“The WordDive application makes learning exceptionally fast and efficient. Thanks to the AI, the pace of learning and the exercising of study items can be optimised individually for each user. In addition, WordDive is based on the use of multiple senses, which is the most efficient way to learn a new language. WordDive’s two main products are digital language courses for adults (English, Estonian, Finnish, French, German, Italian, Japanese, Russian, Spanish and Swedish) and final exam prep courses for high school seniors (English and Swedish).”
The company then shared that high school seniors have bought over 17,000 prep courses in Finland and Germany, and 98% of those who completed the course recommend the programs. WordDive also noted Its turnover increased by 560%, from €140,000 to €930,000, in three years. It was reported that in Finland alone, it is best known for its English prep course, which became a market leader two years after its launch in 2014. Now 25% of Finnish high school seniors use the WordDive prep course, and 98% of those who complete the course recommend WordDive. As of December 2016, WordDive has over 250,000 users in 150 countries.
Funds from the Invesdor campaign will be used for further development and expansion. It is set to close on January 31st.
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