MIAMI, March 4, 2024 (Newswire.com)
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Open English a leading online English learning platform in Latin America and the U.S., announced that it has been named to the highly anticipated 2024 edition of the GSV 150: GSV’s annual list of the top 150 private companies transforming digital learning and workforce skills.
GSV selected the 2024 cohort from 2,000+ global companies using their proprietary rubric of revenue scale, revenue growth, user reach, geographic diversification, and margin profile. These VC- and PE-backed companies are experiencing top-line growth, collectively reaching a staggering ~3B people and generating ~$23B in revenue.
“We are honored to be recognized again by GSV as one of the most transformational companies in Digital Learning,” said Andrés Moreno, founder, Chairman and CEO of Open English. “We believe English fluency is an essential tool for success. It unlocks opportunities for professional advancement, global connections, and economic and social mobility. At Open English, we are constantly analyzing how to leverage technology, most recently AI, to enable access to high-quality, affordable human instruction for adults, children, and corporate workforces anytime, anywhere.”
“The world is adapting to seismic shifts from generative AI,” says Luben Pampoulov, Partner at GSV Ventures. “AI co-pilots, AI tutors, AI content generators—AI is ubiquitous, and differentiation is increasingly critical. The GSV 150 is an impressive group of edtech companies that are leveraging AI and driving positive outcomes for learners and society.”
Workforce Learning companies comprise 34% of the list, K-12 29%, Higher Education 24%, Adult Consumer Learning 10%, and Early Childhood 3%. Additionally, 21% of the companies stretch across two or more “Pre-K to Gray” categories. A broader move towards profitability is also evident: the collective gross and EBITDA margin score of the 2024 cohort increased 5% compared to 2023.
About Open English
Open English is a leading English language learning company in Latin America and the US Hispanic market. The company was founded in 2007 with the goal of empowering people across the world with the language and digital skills they need to succeed. Open English offers unlimited, 24/7 access to live classes with native-speaking teachers. To learn more about Open English, visit https://www.openenglish.com/investors/.
ABOUT GSV Ventures
GSV Ventures, a multi-stage venture capital firm focused on the $7+ trillion global education and workforce skills sector, manages and invests from GSV Ventures Fund III. GSV has invested $600M+ in innovators across “Pre-K to Gray” learning, including Class Technologies, ClassDojo, Coursera, Coursehero, Degreed, Guild, Lead School, PhysicsWallah, Photomath, and Valenture Institute.
ABOUT ASU+GSV
Through a deep partnership between Arizona State University (ASU) and Global Silicon Valley (GSV), ASU+GSV Summit has become the world’s most important and impactful annual gathering of 7,000+ “Pre-K to Gray” education leaders. Today, the ASU+GSV platform also includes the inaugural ASU+GSV AIR Show exploring the AI Revolution in EDU.
Source: Open Education
