Language learning is a frustrating endeavor.
For many children, the time they invest doesn’t translate to retention. In fact, just 1% of children who study a language in American schools go on to become proficient in that language as an adult.
However, while the academic side of language learning has faltered, there is an emerging industry supporting independent education. In 2019, 1.8 billion people worldwide were learning a new language – be it on the internet or elsewhere. This translated to a $60 billion industry showing no signs of slowing; in fact, through 2027, this industry is projected to continue growing at an 18.7% annual rate.
Of this projected growth, digital learning is expected to continue to carve into the overall market. While it only represented 20% of overall participation in 2019, it is projected to make up more than 40% of the market by 2027.
As of-mid 2020, there were more than 3 billion video game consumers worldwide. Suffice to say, gaming has grown far beyond niche status and ascended to widespread adoption.
Fabulingua has co-opted video game habits and adapted them into an interactive learning platform for children to learn languages. Best of all, they provide this service for as much as a 10X savings to consumers when compared to the going rate of language tutors.
The response has been impressive – 75% of free trials have been converted into subscribers. Plus, given the above statistics about the diminishing returns of academic language learning, Fabulingua also has great appeal to teachers. So much so that there are already more than 500 teachers on the waiting list for the Fabulingua teacher module.
In the above pitch, Fabulingua co-founder Mark Begert shares the startup’s story, mission and future goals in front of the A&E Retreat panel of judges, Angels & Entrepreneurs director of deal flow Brian Mitchell, KingsCrowd founder and CEO Chris Lustrino and Shark Tank casting producer Brandon Andrews.
Fabulingua is currently crowdfunding at a $7.5 million valuation, and the minimum investment of $100 also comes with a free, year-long subscription to the service, so you or someone you know can see firsthand the value it brings to aspiring multilinguists.
The raise will remain open until the end of April, however, there’s no need to wait. Ándale, and invest now.
The Research Team