Lingoda language school receives 57 million euros
The company has grown strongly during the Corona crisis. One of the backers is the entrepreneur Cornelius Boersch with his VC fund.
The money will be used to expand the language learning platform. Lingoda wants to build new tools for teachers and expand its presence in the US. The platform connects people who want to learn a new language together. Currently, Lingoda offers German, English, Spanish and French. The startup was founded in 2013 and says it has taught a language to more than 60,000 learners from nearly 200 countries. A lesson costs six to eight euros. Lingoda is said to have a valuation of seven to nine times last year's revenue, Gründerszenereports. At the end of 2019, Lingoda still reported a loss of about 1.7 million euros. But the Corona pandemic is said to have grown its customer base by 200 percent in the past year. The startup has raised a total of more than 70 million euros in venture capital so far.
Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.LinkedIn Connect
FYI: English edition available
Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?
FYI: Deutsche Edition verfügbar
Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?