Business Wire

Prioritising Asia-Pacific and Product Innovation for Effective English Language Learning: Novakid Reports Healthy Growth in 1H2022


Novakid, Europe’s leading online English platform for children and an established EdTech company reinventing learning English as a Second Language (ESL), increased its presence in Asia-Pacific and conducted 2.8 M lessons during the first half of 2022.

During 1H2022, Novakid continued to strengthen its positions in 49 markets across the globe. As a result, the company's current client portfolio in Europe accounts for 70%, with Romania as a new growth market in Europe. The MENA region (Middle East and North Africa) accounts for 14% (2pp increase since the end of 2021). The Asia-Pacific countries (Malaysia, Indonesia, Japan and South Korea), now represent almost 16% of the company’s portfolio. The client base in the region has grown twice over compared to the beginning of the year. The most significant results are demonstrated in South Korea (34%) and Japan (78%).

“To operate successfully in the highly competitive international EdTech and ESL markets, businesses need strong diversification strategies, especially in these times of social and economic uncertainty. For this reason, Novakid’s priority for the first half of 2022 was to focus on new growth regions - Hong Kong, Japan and South Korea - where online language learning is driven by the massive digitalization of education over the last few years,” said Dmitry Malin, co-founder and COO of Novakid.

The total number of English lessons conducted on Novakid’s proprietary software since the beginning of 2022 reached 2.8 million, which is 15% higher than the total number of classes delivered during 2021 (2.4 million). At peak times, the platform hosted up to 1,400 lessons simultaneously.

Novakid has increased its teaching staff to nearly 2,700 native English speakers and near-native tutors. The company has continued to improve the qualifications of its teachers by launching a series of webinars and training courses.

The focus during H12022 was the further development of quality and innovative educational content for learning English. Following the release of the first-ever product on the ESL market - Novakid Magic Academy, a story-based, gamified English learning environment - at the end of 2021, Novakid has implemented this curriculum with over 130,000 students of all ages and levels in 6 months.

The Novakid Magic Academy, which forms part of the Novakid Game World, has proven its effectiveness with regards to the learning outcomes of young students: the average learning performance rate is 12% higher after a minimum of four months of lessons, resulting in a 39% better learning performance for students enrolled in the Level I Novakid Magic Academy ESL course. Speech-to-text solutions and emotion recognition software are being developed to make the in-lesson analysis more advanced.

For the second year in a row, Novakid has been included in the annual GSV EdTech top 150 list of the leading private companies in the digital learning space. In March 2022, Novakid was included on the Forbes Top 500 list of America’s Best Startup Employers. Novakid has also been recognised as a finalist in the 2022 EdTech Digest Awards in the category ‘Best Language Learning Solution’.

In June 2022, Novakid was selected as the winner of the “Overall Language Learning Company of the Year” in the 2022 EdTech Breakthrough Awards. Analysts studied the work of more than 80 online schools operating in Europe. The experts assessed the number of active students and their level of satisfaction with the educational process, the level of training and experience of teachers, as well as prices.

“The combination of product expansion and innovation over the past six months has led to impressive growth. We rolled out our new gamified story-based English curriculum - Novakid Game World - to all students during H12022, and can proudly guarantee that the methodology, which is based on engagement, leads students to language proficiency. The results of our young English learners are the biggest achievement for Novakid,” commented Max Azarov, co-founder and CEO of Novakid.

Accelerated by Covid-19, the online ESL industry for both children and adult students is set to continue its growth trajectory for the next few decades. According to the latest research study Online Language Learning Market run by Facts & Factors, the market is predicted to grow to around $28,5 billion by 2028 with a CAGR of around 18,8% during the period 2022 to 2028. At the same time, the K-12 education market is growing at a compound annual growth rate of 31,6% over the next 5 years according to Mordor Intelligence.

To view this piece of content from, please give your consent at the top of this page.

Contact information

Margarita Maltseva

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 202213.8.2022 09:59:00 CEST | Press release

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), today reported its second quarter 2022 financial results, recording quarterly revenue of AED 7.01 bn and net profit of AED 2.61 bn. For the first half of 2022, DEWA’s revenue is AED 12.08 bn and net profit is AED 3.30 bn. This press release features multimedia. View the full release here: Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 2022 (Photo: AETOSWire) DEWA’s first half revenue increase of 15% to AED 12.08 bn was mainly driven by an increase in energy and water demand in Dubai. During the first half of 2022 energy demand increased by 6.3% and water demand by 6.4% compared to the same period in 2021. Revenue of DEWA’s majority owned subsidia

Mary Kay Inc. Continues Its Support of Women’s Empowerment at the International Women’s Forum Cornerstone Conference in Chile12.8.2022 18:33:00 CEST | Press release

Mary Kay Inc. continues its support of women’s entrepreneurship, empowerment and thought leadership as a sponsor of the 2022 International Women’s Forum (IWF) Cornerstone Conference. Taking place on 17-18 May in Santiago, the Conference convened global decision makers who explored the most pressing challenges to progress on gender equality for the Latin American region. This press release features multimedia. View the full release here: IWF Latinobarómetro MKI Latin American Women Democracy & Society from a Gender Perspective Research (Graphic: Mary Kay Inc.) For the first time ever, IWF commissioned groundbreaking research as part of its annual conference programming with funding by Mary Kay. Conducted by the Latinobarómetro founded by Marta Lagos, this research, titled “Latin American Women: Democracy & Society from a Gender Perspective,” is the first-ever analysis of a quarter of a century (1995-2020) of public opinion and at

Ipsen Completes Acquisition of Epizyme Expanding Its Portfolio in Oncology12.8.2022 17:35:00 CEST | Press release

Regulatory News: Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) today announced the closing of the definitive merger agreement under which Ipsen has acquired Epizyme, Inc. (Epizyme). Pursuant to the transaction, Ipsen acquires all outstanding shares of Epizyme for $1.45 per share plus a contingent value right (CVR) of $1.00 per share. Epizyme now operates as ‘an Ipsen company’ at deal close. As part of the transaction, Ipsen acquires Epizyme’s lead medicine, Tazverik® (tazemetostat), a first-in-class, chemotherapy-free EZH2a inhibitor, which was granted Accelerated Approval by the U.S. Food and Drug Administration (FDA) in 2020. It is currently indicated for adults with relapsed or refractory follicular lymphoma (FL) whose tumors are positive for an EZH2 mutation as detected by an FDA-approved test and who have received at least two prior systemic therapies, and for adult patients with relapsed or refractory follicular lymphom

Budweiser Celebrates 100 Days to The FIFA World Cup™ by Partnering with Messi, Neymar Jr. and Sterling to Drop Hundreds of Prizes For Fans Around the World12.8.2022 13:00:00 CEST | Press release

Tomorrow, Budweiser, an Anheuser-Busch InBev (AB InBev) global brand will “drop” prizes in select destinations in the lead up to the biggest global sporting event. As the Official Beer of the FIFA World Cup, Budweiser is giving fans the once-in-a-lifetime chance to experience the FIFA World Cup in person by dropping hundreds of red prize boxes in major cities that include signed memorabilia, a year’s supply of Budweiser, and the grand prize of a trip to the tournament. This press release features multimedia. View the full release here: Budweiser's QR code (Graphic: Business Wire) Beginning August 13, coordinates leading to prize boxes will be revealed to fans who scanned exclusive Budweiser QR codes. These exclusive QR codes were shared on Budweiser and athlete partner social accounts earlier this week, spurring curiosity and excitement from eager fans. QR codes appeared in locations commemorating Messi, Neymar Jr. and Sterling;

Q4 Inc. Announces Second Quarter 2022 Results12.8.2022 13:00:00 CEST | Press release

Q4 Inc. (TSX:QFOR) (“Q4” or the “Company”), a leading capital markets communications platform, today announced its financial results for the three and six months period ended June 30, 2022. All amounts are expressed in US dollars unless otherwise stated. “The second quarter results show our continued progress against our overall strategy and vision,” said Darrell Heaps, CEO of Q4. “We achieved double digit recurring revenue growth, driving product adoption with higher ARPA expansion growth, as our customers continued to renew subscriptions at record levels and increase their spend with Q4. Given the challenging macro environment, and with our peak investment period behind us, we are accelerating our path to profitability. With a focus on expanding our operating leverage, initiatives are underway to improve sales efficiency and utilize low cost geographies to drive down operating expenses. Combined with our gross margin expansion, these will bring forward our commitment to be cash and E