Runa Capital has made another sizable VC investment in Russia through a USD 3 mln round of financing for Russian freemium English language tutorial site LinguaLeo. The site is a cloud-based service that caters to Russian speakers who want to pick up the English language. Though operating primarily in Russia, LinguaLeo has users from as far away as Israel, Germany, the UK and even the United States. The site currently gets an average of up to 80,000 daily visitors, comparable with any of its main Western counterparts such as LiveMocha and Busuu; however, the language portal also claims to be getting 7,000 new registrants every day. With this new investment, LinguaLeo will start working on providing support for other languages on its website, as well as offering more languages to learn. The investment itself is a culmination of several years of struggle for founder Ainura and team, during which time they were operating with a near-zero cash flow, save for the USD 200,000 that was provided by angel investors after a win at the “Start” event in Moscow.
Russian To English Tutorial Site LinguaLeo Finds $3 Mln Investor In Runa Capital
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