Founded in 2008, Busuu is a language learning platform that provides users with a unique offering through a combination of AI-powered online courses and a global community of native speakers and tutors. Its proven methodology is available in 12 different languages, and has more than 100 million users worldwide.
Busuu is addressing the +$50bn language learning market, whose transition to digital has been significantly accelerated as a result of the Covid-19 outbreak. Its recent combination with live tutoring app Verbling makes Busuu a winning platform in the market as it provides a unique 360° online offering to challenge traditional offline learning.
The new funding will allow Busuu to accelerate its growth and become the leading player in the market through a continuous development of its product offering and the launch of new B2C and B2B distribution channels.
Per Roman, Managing Partner at GP Bullhound, said: “As I moved to Spain, I had to find tools to learn the language. Some of the apps I tried were either too gimmicky or felt like going back to school. Then I had a eureka moment with Busuu: top-of-class UX, fast learning, huge depth and real interactivity. I was hooked and so was my wife. We quickly converted to paying subscribers and in doing so I reached out to Bernhard Niesner, and the whole team met and got to know a driven, charming and visionary CEO. Just the kind of founder we like to back. Now with the tailwind in digital education, this became just the right time to back Bernhard and his vision.”
GP Bullhound is investing in Busuu through GP Bullhound Fund IV SCSp, which focuses on growth stage business in the software, digital media, marketplaces and fintech sectors. Recent investments include Slack, Klarna, Unity, Revolut and Believe.