Lectera, a leading international education platform, celebrates an anniversary with customer growth and plans to conquer African markets with its model of rapid education and rapid results.
Launched in the summer of 2020, Lectera claims 180,000 users in 50 countries. According to CEO Mila Semeshkina, Lectera gained more than 50,000 students one month after its global launch. Its first annual revenue also exceeds $5 million.
The e-learning platform offers lessons in five different languages, namely English, Spanish, German, Russian and Hindi. Lectera said Latin America, Russian-speaking countries, India and African countries are its strong markets.
Lectera CEO Mila Semeshkina recently spoke with Business Insider Africa about her experience as the founder of a fast-growing startup. Below are the most important takeaways.
Semeshkina’s journey to found Lectera was quite personal. She had just completed her undergraduate degree at Moscow State University and applied for a postgraduate course. During her student years, she often lacked money. Working as a marketer by day and writing her thesis by night, she realized that the world was changing so rapidly that her unfinished article was becoming less and less relevant.
She knew then that if she wanted to excel in her career and grow as a person, she needed tools that would allow her to learn faster and more effectively by absorbing only the most relevant information. It was then that Semeshkina had the idea to create this tool for herself – Lectera was born from this.
Lectera uses a unique methodology called Fast Education. With an emphasis on real-world application and rapid results, this method ensures that the information is as digestible as possible – both with the help of video tutorials and additional material available as part of the Classes.
Semeshkina has moved away from traditional e-learning methods in favor of a more modern approach. With this new method, quitting lessons and homework will be avoided, while the number of mentors is kept to a minimum.
A unique feature that differentiates Lectera from other platforms is its ability to offer courses in five different languages, including English, Spanish, German, Russian, and Hindi. 30% of students use the platform to practice their foreign language skills and improve their vocabulary while taking the course.
In the first year of being on the market, Lectera managed to acquire a customer base of 180,000 from 50 different nations around the world. Russian-speaking countries, Latin America, India and African countries are particularly strong markets for the platform.
“The two main criteria that determine the popularity of our courses are the level of competition in the country’s labor market and its preference for practical skills over traditional university degrees,” says Semeshkina.
Rapid education is becoming more and more popular. People don’t want to spend years or even months learning something they want to learn. Instead, they prefer hands-on training that allows them to apply their skills immediately. Moreover, they are no longer willing to change their daily routines to pursue studies, but are ready to devote part of their free time to it when they feel like it.
Some of the most in-demand subjects include sales, digital marketing, and soft skills, as students studying these areas can develop skills that will benefit their careers in the future.
The platform now offers nearly 200 courses, all available in five different languages. The company hopes to double the number to around 500 over the next year. Worst-case scenario, Lectera also aims to acquire 500,000 customers by next year. But as an ambitious goal, they hope to reach one million users by the end of 2022.