Duolingo, a popular language learning app, has raised $ 30 million in a Series F funding round from Alphabets Investmentarm CapitalG.
Duolingo has raised a total of $ 138 million and worth $ 1.5 billion – more than double CapitalG, and its earlier Google Capital nomenclature, also cited Duolingo's D Series in 2015, according to that the fact that the company decided to return for another series of the same four years later is indicative of the value that Duolingo sees as a learning tool.
Founded in 2011 in Pittsburgh, Duolingo is a cross-platform app that lets anyone learn languages for free. Removes ads, offers offline access, and more.
"Duolingo has increased users and revenue at an impressive pace and consolidated its position as the first opportunity to learn a language worldwide," said Capita LG General Partner Laela Sturdy in a press release. "The team has shown that sticking to its mission of providing free education is not only good for the world but also good for business."
Through gamification and bible-sized lessons, anyone can learn to read, listen and Learn to speak in most of the world's popular languages, although it also supports many niche languages and fictional languages such as Klingon. It has become one of the most downloaded learning apps in the world. Since its last round of financing more than two years ago, it has more than doubled its workforce from 95 to 200 and opened additional offices in Seattle, New York and Beijing.
Interestingly, Duolingo now claims to be the first unicorn ̵
The online language learning market was reported to be worth $ 9 billion in 2018. Against this backdrop, Duolingo has invested in AI and machine learning to make the lessons more attractive by automatically targeting the lessons learned Person to be tailored, much like a human tutor could do. And it is a safe assumption that at least part of the new cash bounty will be used for the further development of personalization algorithms.
"We started Duolingo with the goal of making education free and accessible to everyone, and I'm very proud of that. We've also built a strong business," added Duolingo co-founder and CEO Luis von Ahn. "CapitalG has been a valued partner to Duolingo in recent years and we look forward to capitalizing on this investment to continue our growth and consolidate our position as the world's most widely used and highest-revenue language learning app."