Lingoda Raises 3.7 million Euro
The online language school Lingoda has raised a 3.7 million Euro funding round to further promote its innovative and promising concept. Several well-known investors, including Grazia Equity and Mountain Partners participated in the round.
The Berlin-based start-up was founded in 2012 and so far offers online language courses in English, German and French. Teachers give virtual classes and are connected to students using video technology. The concept is unique in providing real exchanges with fully qualified teachers, in contrast to many competing services, which rely on pre-recorded videos. “We are doing exactly what traditional language schools have been offering, but bringing these classes online.”, says Felix Wunderlich, CEO and Founder of Lingoda. With this approach, the two brothers Felix and Fabian Wunderlich are on course for digitalizing a whole industry. The fresh capital will be used to drive further growth by establishing and realizing a dedicated marketing roadmap. Profitability is not yet on the companies agenda: “In the next two years our focus is on driving growth and on the strong competition with our competitors“, says Fabian Wunderlich.