Duolingo Raises $35M on a $2.4B Valuation

The company has confirmed that it has raised $35 million in funding from two investors, Durable Capital (the firm founded last year by Henry Ellenbogen, previously a star at T. Rowe Price) and General Atlantic.

For some context, this is a sizable jump on the $1.65 billion valuation that Duolingo clocked up earlier this year, when General Atlantic quietly put $10 million into the company. Part of the reason for the boost is the general market.

Edtech has seen a surge of usage and attention, from educational institutions looking for more effective ways to teach when in-person classes are not possible; from businesses looking for ways to train and engage employees who are now working remotely; from consumers looking to do something more productive beyond watching Netflix and arguing about Trump with distant contacts on Facebook; from educators looking for more inspiration for how to teach concepts that are harder to grasp when students are far flung.

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