Language-learning company Duolingo said Wednesday it reached so-called unicorn status with a $1.5 billion valuation after raising $30 million in its latest funding round.
Alphabet Inc. investment fund CapitalG led the Series F financing round that helped Duolingo become the first Pittsburgh technology startup to become a unicorn, or reach a valuation of at least $1 billion, Duolingo said. Duolingo is a free language-learning platform that counts Microsoft co-founder Bill Gates among its 30 million users, according to its website.
The new capital will go into product development and expanding its current team,
Also published on Medium.