General Atlantic has supplied equity and secured shares through a secondary transaction, and will aid the CMU-founded language app developer's international growth objectives.
Duolingo, the US-based online language learning service spun out of Carnegie Mellon University, has secured $10m of funding from venture capital firm General Atlantic, TechCrunch reported on Monday, citing a regulatory filing.
The spinout told TechCrunch the money was raised above the $1.5bn valuation achieved with its series F round in December 2019, but declined to provide further details.
General Atlantic picked up additional shares in a secondary transaction with an unnamed existing investor, but financial terms were not revealed.
Founded in 2011, Duolingo markets an app for people to learn and practice languages through brief lessons and gamified assignments.
It recently launched an app for children to practice reading and writing, and has expanded its management with the addition of a general counsel and chief financial officer.
Duolingo stresses it remains cash-generative and claims to have sought investor expertise rather than an urgent…
