04 December 2019:
Duolingo has raised $30 million in Series F round of funding from CapitalG (Alphabet’s growth equity investment fund) and an existing investor in the company. The company was valued at $1.5 billion.
The company will use the fresh capital for continued investment into the research and development of its products, as well as to accelerate the growth and expansion of the Duolingo team.
Till now, the company has raised more than $138 million in venture capital from investors including CapitalG, Kleiner Perkins Caufield Byers, Union Square Ventures, New Enterprise Associates, Drive Capital, Ashton Kutcher, and Tim Ferriss.
Laela Sturdy, General Partner, CapitalG, said, “Duolingo has been adding users and revenue at an impressive pace, continuing to solidify their position as the #1 way to learn a language globally. The team has demonstrated that sticking to their mission of providing free education is not only good for the world, but it’s also good for business. We are thrilled to continue to support them in this next stage of growth.”
Luis von Ahn, CEO and co-founder of Duolingo, said, “We started Duolingo with the mission of making education free and accessible to everybody, and I’m very proud that we’ve now also built a strong business. CapitalG has been a valuable partner to Duolingo over the past few years, and we look forward to using this investment to continue our growth and further solidify our position as the most widely used and top-grossing language-learning app worldwide.”
Duolingo is language-learning platform. It offers 91 total courses across over 30 distinct languages, and is available on iOS, Android, and Web.
(Image – Duolingo)