Duolingo, a Pittsburgh, PA-based language-learning platform, raised $35m in financing at a $2.4 billion valuation.
Backers included Durable Capital Partners LP, an investment management firm that invests in both public and private markets, and General Atlantic, a global growth equity firm. This latest financing round brings the company’s total funding to $183m.
Duolingo will use the new capital to accelerate continued investment into the research and development of its suite of global language-learning products, as well as to accelerate the growth and expansion of its team.
Led by Luis von Ahn, CEO and co-founder, Duolingo provides a language-learning platform and an education app. It offers 98 total courses across nearly 40 distinct languages, and is available on iOS, Android, and Web at www.duolingo.com. Since its creation in 2011, the company’s app has been downloaded more than 500 million times. While learning content on Duolingo is free, the company has grown its revenue with advertising and a paid subscription offering, Duolingo Plus, which removes ads and provides other additional features.
FinSMEs
18/11/2020