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Founded in 2013, Lingvist raised a €1 million Seed round last year and has signed up over 100,000 learners. The platform claims to teach a language in 200 hours.
TALLINN, November 10th, 2015 — Lingvist, the next generation language learning platform today announced a Series A investment of $8 million led by global Internet services company, Rakuten, Inc. (TOKYO:4755). Rakuten will invest alongside existing investors Smartcap, Inventure and Skype co-founder Jaan Tallinn.
The financing will be used to fund Lingvist’s growth in Europe, Asia and the Middle East and for further investment in its proprietary adaptive language learning algorithm and platform.
We are very pleased to welcome a global leader like Rakuten to our corner as an investor as we start to scale out our platform and new language offerings.” said Mait Muntel, CEO of Lingvist. “Rakuten’s Englishization initiative to convert its corporate language from Japanese to English has made them a veritable expert in their own right in language education.”
Lingvist is building a technology driven, personally adaptive and mathematically optimized way of learning a new language. Their software is based on statistical analysis and adaptive machine learning algorithms developed at CERN. This provides a personalized and accelerated learning experience, with an easy-to-use UI.
About Rakuten Inc.
Rakuten, Inc. (4755:Tokyo), is one of the world’s leading Internet services companies. Rakuten provides a variety of products and services for consumers and businesses, with a focus on e-commerce, finance, and digital content. Since 2012, Rakuten has been ranked among the world’s ‘Top 20 Most Innovative Companies’ in Forbes magazine’s annual list. Rakuten is expanding worldwide and currently operates throughout Asia, Europe, the Americas and Oceania. Founded in 1997, Rakuten is headquartered in Tokyo, with over 12,000 employees and partner staff worldwide.