Allright.io, a startup founded by the Ukrainian, receives a $1.5M investment
The startup Allright.io announced about the closure of funding round in the amount of $1.5 million. The investor was Buran Venture Capital, and the seed stage investor participated in the round. Oleg Oksyuk, the project’s founder announced this to AIN.UA.
What is Allright.io
Allright.io is an online school for learning English for children from 4 to 12 years old. The company was founded at the end of 2017 in the USA, but the development office is located in Ukraine. According to Oleg, today 50 people work in the startup, 42 of whom are Ukrainians.
“The Ukrainian office is responsible not only for the development but almost everything: Customer Support, sales, marketing, methodology. In other countries, there is only Customer Support on site,” said Oksyuk.
Allright.io sells individual online tutoring lessons, earning on commission. Today, the service has more than 1,700 active students per month, 150 teachers from all continents, who conducted more than 70,000 lessons.
So far, there are most sales in Russia, Ukraine, and the CIS countries. Two weeks ago, AllRight.io also launched on the Polish and Spanish markets. According to the founder, there are already the first customers there. The startup plans to spend raised funds just on further expansion in Europe, as well as strengthening its position in existing markets.
Buran Venture Capital is a stage A venture capital fund with offices in Budapest, Moscow, Riga, Tel Aviv, and Warsaw, which invests in technology companies founded by entrepreneurs from developing countries in Europe, the CIS, and Israel. Key areas of investment are SaaS, marketplaces, and other digital services.
Let us recall, Insoft and AVentures Capital sold a majority stake in the Ukrainian outsourcer CoreValue.