Algoritmika

Company

Education and Science
Since 2016
Russia

Top managers:
Brookovskaya Olga

Owners:
Sberbank

Content

History
- 2024: Sberbank bought Russian business Algoritmika
- 2021: Raising $10 million in investments
Notes

Owners

+ Government of the Russian Federation

Algoritmika is an international school of mathematics and programming. She teaches children programming and mathematics in offline and online formats. Classes are held on an interactive IT platform (in-house developed by the company), and the course materials have been translated into 11 languages. The control of educational results and the quality of the work of teachers is ensured through the analysis of big data.

By February 2021, the project is operating in 37 countries around the world, developing under a franchise. The network has more than 200 franchisee partners. Every year, the company trains more than 150 thousand children, collaborating with private training centers and general education schools - for example, in hundreds of state schools in Azerbaijan, children from the 2nd to the 11th grade study under the Algoritmika program.

History

2024: Sberbank bought Russian business Algoritmika

In October 2024, it became known about the acquisition by Sberbank of the Russian part of the Algoritmika programming school for children. The deal, completed a few months ago, is estimated by experts at about ₽1 billion. The founder of the school, Andrei Lobanov, will focus on the development of the international business line.

According to Forbes, the transaction can be structured through companies that are not directly affiliated with the bank. In March 2024, 14.3% of the company was transferred to Management and Development LLC, information about the beneficiaries of which was not disclosed.

Sber bought the Russian business school of programming Algoritmika

Sk Capital fund manager Alexander Chaikin estimates the transaction value at ₽1,5 billion. According to SPARK, the total revenue of the legal entities Algoritmika and Algoservice in 2023 reached ₽700 million with a loss of more than ₽100 million.

Founded in 2016, Algoritmika specialises in teaching children how to program. The school educates children and adolescents between the ages of 6 and 17 and develops under a franchise model. According to the research agency Smart Ranking, the company's total revenue in 2023 amounted to ₽1,9 billion.

The acquisition of Algoritmika became part of Sberbank's strategy to expand its presence in the educational segment. The bank plans to merge the school with its existing programming courses "School 21." Earlier, Sberbank also acquired the educational platforms Netology and Foxford for ₽4 -6 billion.

Maxim Spiridonov, founder of the Netology and Foxford educational platforms, connects these acquisitions with the implementation of a continuous learning strategy covering all age groups - from preschoolers to older people.

The international part of Algoritmika 's business will continue to operate under the management of the Cypriot holding Ruffell Holding Limited, where about 40% belongs to Andrei Lobanov. Other shareholders include Skyeng, the Rockstone Ventures fund (formerly Winter Capital) and VK, with a 7.88% stake^[1]

2021: Raising $10 million in investments

On February 19, 2021, it became known about investing $10 million in Algoritmika. The Russian-Chinese Technology Investment Fund (RCTIF) and Winter Capital Partners (its key investor is the head of Norilsk Nickel Vladimir Potanin) have invested in the Russian EdTech startup.

Algoritmika intends to spend the funds received from investors on the further development of the educational product, as well as on international expansion: attracting new franchisee partners around the world, opening new schools and increasing the number of students. In particular, it is planned to enter the rapidly growing markets of Latin America and Southeast Asia.

Russian EdTech startup Algoritmika raised $10 million to teach children programming

Investments in Algoritmika are aimed at supporting one of the most promising Russian companies in the field of teaching programming and mathematics. The steady growth of Algoritmika 's indicators in recent years has laid a solid foundation for successful international development and its transformation into a global leader, said Kirill Dmitriyev, General Director of the Russian Direct Investment Fund (RDIF) and Chairman of the Board of Directors of RCTIF.^[2]

Notes

Источник — «https://tadviser.com/index.php/Company:Algoritmika»

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