Logiscool, an international leader in coding education for children and teens, raised a 3.5 million EUR investment from Euroventures, one of the leading independent VC and PE firms in the CEE region. The current investment gives a significant boost to our Client Logiscool’s further international expansion and building its franchise network on the new markets.
Logiscool was exclusively advised by Absolvo’s growth financing team in the transaction process.
Logiscool launched its fun-based innovative coding school in Hungary in 2014, providing programming and digital courses and camps for children aged 6-18. Today it is present in 16 countries and over 100 locations, teaching more than 60,000 students. The rapid growth is the result of the introduction of the franchise model, which enables building the school network dynamically worldwide.
The success of the Logiscool method, which has ever-growing international popularity, has several components. Its modular curriculum is composed of more than 600 lessons allowing students to continuously improve their coding skills over several years. The company’s proprietary educational platform “grows” together with students’ age and knowledge level giving them the feeling of long term, successful achievement. The young and enthusiastic trainers make the courses friendly and inspiring to the students.
“We believe that acquiring the knowledge of the future can be enjoyable and fun. At Logiscool kids can learn the basics of logical thinking in a fun-based way, improve their problem-solving skills, understand complex processes and in later life they can use that knowledge in almost any workspace” – said dr. Anita Breuer, co-founder of Logiscool.
The company has previously received investment from NNG-founder and angel investor Péter Balogh. The investment helped in the development and the successful initial international launch: “Logiscool had already achieved what is rare for Hungarian brands: it is building a successful franchise network from Taiwan to Florida, and changes the life of ten thousands of children. Our big dream with the team is to teach one million children to code – that kind of ambition makes it really worthwhile to get up in the morning” – said Péter Balogh.
The current investment of 3.5 million EUR, led by Euroventures in co-investment with the experienced investor Márton Szőke (founder of Indextools which was acquired by Yahoo!, has had several successful exits with a past and present portfolio including among others AutoHop, Tresorit, Omixon and Bitrise) enables Logiscool to expand its HQ team in Budapest, to develop its educational offering and its local and international partnerships to accelerate international expansion.
“This investment round is an important milestone in the life of Logiscool, it gives a significant boost to our further growth. It enables the development and expansion of the team, therefore we will be able to better support our partners and with our continuous developments we can gain and sustain our leading role worldwide. Our aim is to provide the best coding education to kids globally” – said Gyula Csitári, co-founder of Logiscool.
Anita Breuer and Gyula Csitári founded Logiscool in 2014 with an extensive marketing experience, multinational working experience and decades of expertise in leadership in their family-owned advertising agency business. They established the pioneer coding education methodology in Hungary and capitalized on an obvious market gap. In the past years, many competitors have appeared on the market of coding schools but the education platform and model of Logiscool’s have remained still unique.
Logiscool builds their expansion strategy on franchise model from the very beginning which model supports scaling, fast growth and expansion effectively (which is evaluated very positively by an investor).
Today they work together with 100+ franchisees, generating 1.5-2 million EUR revenue on a yearly basis. The investment of Euroventures’s with its expertise, market knowledge and international network will lead Logiscool to a new dimension of operation and international growth.
The preparation for the transaction, the investor talks and the negotiations had taken more than 1 year. Pitch deck was sent approx. 30, pre-listed potential investors which generated high interests and positive feedbacks among them. Negotiations started with a short list of matching investor – with Absolvo’s intensive support.
Euroventures become the one in the end.
Business plan was analysed in full details, more specific reports were expected to be prepared and many challenging questions had to be answered during the process of due diligence to give to the investor a deep insight about their market and operation, and to justify their commitment and confidence in their business, their future plans and objectives.
“We invested in Logiscool, because we see a rare combination of an excellent and devoted management with international experience, a rapidly growing global market and a technology-based, unique value proposition. It is a great opportunity and responsibility to be part of such a growth story” – said Péter Tánczos, director of Euroventures.
The founding team reported a fair and supportive attitude from the investor side throughout the overall process and they continue the journey together as shareholders and business partners after closing the deal.
Congratulations and thanks to the excellent Logiscool team for cooperating and being part of their success story! We wish them good luck to achieve their ambitious goals!