Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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Duolingo files for IPO
Duolingo, the edtech platform that helps users learn new languages, filed to go public Monday. The Pittsburgh-based company, which is backed by investors including Kleiner Perkins and General Atlantic, reported in its S-1 filing that its revenue more than doubled to $55.4 million in the first quarter of 2021 as the pandemic boosted usage.
The Pittsburgh-based company says it now has more than 40 million monthly active users. Its most recent private valuation was $2.4 billion, per Crunchbase data.
Duolingo follows Coursera as another high-profile edtech company to go public this year.
–Sophia Kunthara
SentinelOne raises IPO range
Cybersecurity provider SentinelOne boosted the proposed range for its upcoming IPO and is now looking to raise over $1 billion in the offering.
In an amended securities filing, the Mountain View, California-based company set a price range of $31 to $32 per share, with a maximum aggregate offering size of $1.18 billion. The scaled-up offering comes amid a red-hot period for cybersecurity funding and exits, boosted in part by the rise of remote work and demands the shift is placing on security protocols.
— Joanna Glasner
Cryptocurrency
UK watchdog bans Binance: Cryptocurrency exchange Binance has been ordered to stop all regulated activities in Britain following a decision by the U.K.’s Financial Conduct Authority. The company operates one of the largest cryptocurrency exchanges.
— Joanna Glasner
Robotics and automation
Botrista raises $10M for robot barista: San Francisco-based Botrista Technology, a developer of a device called the DrinkBot that prepares craft beverages like lattes and flavored lemonades, announced that it raised $10 million in a funding round led by Purestone Capital and La Kaffa International.
— Joanna Glasner
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