Language-learning platform Duolingo has raised $35 million in a Series H funding round from Durable Capital Partners, an investment management firm that invests in public and private markets, and General Atlantic, a global growth equity firm.
Pittsburgh-based Duolingo offers 98 courses across almost 40 languages. Valued at $2.4 billion, the company has raised more than $183 million in venture capital from investors including Durable Capital Partners, General Atlantic, CapitalG, Kleiner Perkins Caufield Byers, Union Square Ventures, New Enterprise Associates, Drive Capital, Ashton Kutcher, and Tim Ferriss.
Duolingo stated it will use the latest funding to continue investing in research and development of its suite of global language-learning products, and to increase headcount.
Henry Ellenbogen, founder and chief investment officer of Durable Capital Partners, said: “Duolingo is the kind of business that matches what we look for in our investments: they are mission-driven, have a great culture, and great people that can compound significantly over time.”
Tanzeen Syed, managing director at General Atlantic, added: “We are thrilled to deepen our partnership with Duolingo after initially investing in the business in April 2020. Duolingo has successfully built foundational learning technology, an effective and engaging product, and a passionate community of users.
“We believe the company has additional opportunity to strengthen its market-leading position and expand its product, team, and customer base, while capitalising on the global acceleration in digital learning.”
Date published: 25 November 2020