iStoria raises $1.3 million Seed round to teach English through storytelling

📚 Meet iStoria! A Saudi-based English-learning app that focuses on vocabulary building through enjoyable graded stories.

And, they just raised $1.3 million in a Seed round.

• The company was founded in 2022 by Abdullah Al-Jaberi, Faisal Al-Hamoud, Abdul Nasser Al-Wali, Ismail Ashour, and Khaled Al-Rashed, and reached a milestone 1 million learners worldwide last month.

💰 Investor lowdown: The round was led by Nama Ventures, Classera, Flat6Labs, BIM Ventures, and other angel investors.

• iStoria also just graduated from the the second cycle of the Flat6Labs Riyadh Seed Program.

📖 English language learning

Globally, the online English learning market is a $14 billion industry, with the MENA region accounting for a significant $700 million chunk.

A common hurdle for English learners? Vocabulary acquisition.

The solution? The Graded Reader approach.

This innovative method, through progressively challenging stories, enables learners to master over 3,000 words.

Recognising this method's potential, iStoria transformed it into an app, enriching it with additional features like gamification.

🛠️ Break it down

1. Personalised Starting Point: Learners begin with a story matched to their current proficiency, choosing from over 100 books.
2. Interactive Learning: Words can be clicked for translations and added to a personalised “learning” list.
3. Progress Tracking: A detailed overview shows the balance of words known and those yet to be learned.
4. Contextual Practice: Practice newly learned words in diverse settings, such as through readings or listening exercises.

🔢 Numbers

iStoria currently boasts 10,000 paying subscribers and has generated $500k in revenue.

• They offer several subscription models: a monthly package at $11, a 6-month package for $52, and an annual package at $70, each with a 7-day free trial.

🔮 Flashforward: 

The fresh funding will be used to further enhance its English language learning platform, accelerate innovation, and widen its footprint worldwide.