English e-learning company Eleutian raises $10m

Eleutian Technology, a provider of online English education to students in Asia, has secured $10m in growth equity financing from Cheyenne Capital Fund.

With its Wyoming-based faculty of certified US educators, Eleutian provides English-language instruction using internet-based videoconferencing to K-12 public and private school students and business executives in South Korea, Japan and China.

Eleutian has succeeded in forging successful partnerships with regional Ministries of Education in Korea and with Yoon’s English Academy - one of South Korea’s leading private providers of English language training and test preparation services.

The company achieved revenue growth of 100 per cent in 2008. Its growth continued in 2009 with year-over-year revenue increases of 69 per cent.

Cheyenne Capital’s Robert Grady, who joins Eleutian’s board, said, “The market for English-language training is currently more than $100bn annually and will continue to grow as English becomes the global language of commerce.”

Cheyenne Capital is based in Denver, Colorado.

Copyright © 2010 AltAssets

As you can see e-learning is  still growing industry and can be very successful in effective English teaching.

No comments:

Post a Comment