Conversational English learning service EnglishCentral has agreed to acquire Japan-based English language tutoring platform Langrich, providing an exit to KLab Ventures, an investment vehicle of gaming company KLab and holding firm SBI.
KLab and fellow investor Hitomedia, an education-focused incubator, will receive shares in EnglishCentral, though financial details have not been disclosed.
Founded in 2010, Langrich uses voice-over-IP platform Skype to teach users English.
Langrich raised ¥50m ($410,000) from KLab Ventures in 2012, alongside unnamed investors. The company has not disclosed further funding details.
Alan Schwartz, founder and chief executive of EnglishCentral, said: “The combination of our unique speech technology and video learning platform has made EnglishCentral one of the most widely adopted self-learning English learning tools online.
“Now with the integration of live tutoring into our platform, learners will have the most complete online English learning solution available in the market for both mobile and web that also can guarantee results for learners.”