Duolingo Receives $30 Million Series E Funding Pushing Valuation to $1.5 Billion

Coinspeaker Duolingo Receives $30 Million Series E Funding Pushing Valuation to $1.5 BillionOne of the world’s most used language learning platform Duolingo has successfully pulled in $30 million in a new series F funding. The funding was handled by Alphabet’s investment division CapitalG, which had led the platform’s series D funding round a few years ago in 2015.Duolingo seems to be doing something right especially since CapitalG has decided to come back to pump more money after 4 years. So far, the language learning platform has raised a total of $138 million in funding, climbing up to a $1.5 billion valuation. In comparison, it’s series E funding which took place in 2017 raised its valuation to $700 million.The Duolingo platform is a free app that allows people free access to learn many languages. The app handles these sessions through different methods including small lessons and games as well, making it easy for pretty much anyone to follow and learn most of the world’s languages. Duolingo, however, has a paid version that costs $7 per month for an opportunity to use the app without ads and also ensures users to have access even when they aren’t online.Speaking on its mission to return as an investor, a general partner at CapitalG Laela Sturdy has said that the company has been growing quite well over the years and as suggested that CapitalG is drawn to Duolingo’s selfless mission to allow people better themselves. Sturdy said:“Duolingo has been adding users and revenue at an impressive pace, continuing to solidify their position as the number one 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…it’s also good for business.”Also, Duolingo CEO and co-founder Luis von Ahn has said that the company was started because of a passion to make free education very easy and accessible to people all over the world. The CEO also spoke on CapitalG’s partnership, stating:“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 was founded in Pittsburgh and launched its private beta on 30 November 2011. It became available to the general public in June 2012 and boasts of 30 million users who are actively engaged in using its platform to learn some of the world’s popular languages. Last year, the platform added fictional language Klingon from the Star Trek movie series. Surprisingly at the time, Duolingo said that thousands of pre-registered users had shown interest in learning Klingon.Apart from Pittsburgh, the company has started offices in Beijing and Seattle, New York as well. With a staff strength of 200, Duolingo also says that its paid plans pull in about $100 million every year.Duolingo Receives $30 Million Series E Funding Pushing Valuation to $1.5 Billion