Lingua.ly, which turns the Internet into a language textbook, has secured $1 million from Udi Netzer, Shai Rephaeli, Yochy Investments, and Seed Fund 1776. Including this round, the company has secured a total capital of $1.8 million, till date.
As per a report by TechCrunch, the new funding will be used to bring Lingua.ly’s free tools which are available online as a Chrome extension and as Android and iOS apps, to new platforms and markets. Also, the firm plans to monetize through premium features that it will release on the web and its apps later this year. Classroom-oriented features including a dashboard for teachers is also in the works.
The site and apps pull articles from the web-based vocabulary lists and each user’s interests. It supports 10 languages : English, French, Spanish, Italian, German, Dutch, Portuguese, Arabic, Russian, and Hebrew. It hopes to add several others languages later this year as well as better dictionary support for languages like Hindi and Farsi.
The upcoming features will be based on the natural language processing technology, which will help the company pull up a more personalized and diverse assortment of articles for each user.Category Business Investments