Ello, a leading edtech startup based in San Francisco, has recently achieved a significant milestone by securing the fifth spot on Fortune’s prestigious 2024 Change the World list. This list recognizes companies that are dedicated to addressing global challenges and making a positive impact on the world.
The company has gained recognition for its innovative AI reading app, which is designed to support parents with struggling readers in grades K-3. Ello’s app utilizes the world’s largest child speech data set and a vast library of decodable children’s books to provide individualized reading support to children. Powered by its state-of-the-art AI system, Adaptive Learn, the app is able to understand, adapt, and respond to a child’s needs just like a teacher or reading coach would.
According to Ello, there are approximately 16 million 4-8-year-old children in the U.S. who can benefit from an AI reading tutor. Traditional 1:1 tutoring is considered the gold standard for reading instruction, but it can be costly and inaccessible for many families. Ello’s AI reading tutor aims to democratize access to high-quality reading support by offering it at a fraction of the cost of traditional tutoring services.
Dr. Elizabeth Adams, co-founder and CXO of Ello, expressed her excitement about being included on Fortune’s Change the World list. She emphasized the company’s commitment to leveraging AI for good and improving education outcomes for children. Adams highlighted Ello’s mission to empower every child with the opportunity to become a confident reader and its potential to drive positive change in global child literacy rates.
In addition to its AI reading app, Ello has made its entire library of e-books available online for free. This library consists of over 800 decodable books, one of the largest collections in the world, covering a Science of Reading-aligned phonics scope and sequence from Kindergarten through 3rd grade. Decodable books are crucial for teaching reading effectively, and Ello has made them accessible to families and teachers at no cost.
Furthermore, Ello has launched various initiatives to ensure that its subscription app is accessible to all families, regardless of their financial resources. The company has partnered with low-income schools to offer pilot programs for free, and it has introduced Ello Access, a subscription program at a deeply discounted price for families receiving government assistance.
Ello Access, the company’s latest initiative, offers eligible customers a $12.00 discount per month on the Ello Digital subscription, reducing the monthly cost from $14.99 to just $2.99. Families enrolled in government programs such as SNAP, Medicaid, TANF, and others can qualify for this special discount program, making high-quality reading support more affordable and accessible.
Since its establishment in 2020, Ello has experienced rapid growth, serving tens of thousands of children and facilitating over 600,000 books read. The company’s impact on improving children’s reading skills has been significant, with 83% of families reporting improvements in their child’s reading abilities after using the app. Ello’s reach extends across all 50 states and Puerto Rico, with plans for international expansion in the near future.
Fortune’s 2024 Change the World list highlights companies that have demonstrated measurable social impact, business results, innovation, and corporate integration. Ello’s inclusion on this prestigious list is a testament to its dedication to using technology for positive change and improving educational outcomes for children.
About Ello:
Ello is on a mission to address childhood illiteracy by scaling 1:1 instruction to maximize learning potential for all children, regardless of their resources. The company’s flagship product, an advanced reading companion powered by proprietary speech recognition and generative AI, aims to teach critical reading skills to children as they read out loud. Ello’s team of experts in education, childhood development, and AI is committed to making high-quality reading support accessible to every child. The company is backed by investors including Y Combinator, Goodwater, Project A, and Homebrew.
As Ello continues to make strides in the edtech industry, its innovative approach to improving child literacy and educational outcomes serves as a model for other companies looking to make a positive impact on the world. With a focus on leveraging AI technology for good and democratizing access to high-quality education, Ello is set to play a significant role in shaping the future of learning for children around the globe.
