Preply Series D Funding Propels Language Marketplace to $1.2 Billion Unicorn Status
Preply secures $150M Series D funding, reaching a $1.2B valuation. Explore how the Ukrainian-founded edtech giant is using AI to empower 100,000 tutors and scaling despite geopolitical challenges.
After 14 years of scaling, Preply has officially joined the unicorn club. The language learning marketplace secured $150 million in Series D funding, pushing its valuation to $1.2 billion. The round was led by WestCap, the growth equity firm headed by former Airbnb CFO Laurence Tosi.
Preply Series D Funding and the $1.2 Billion AI Bet
Preply isn't just growing; it's proving the sustainability of the human-centric edtech model. The company has maintained EBITDA profitability for the past 12 months. According to CEO Kirill Bigai, the company's secret sauce lies in integrating AI to support its 100,000 tutors rather than replacing them. This stands in contrast to competitors like Duolingo, which faced criticism for prioritizing AI over human instructors.
The platform utilizes AI for lesson summaries, homework assignments, and high-precision tutor matching. To double down on this, Preply is aggressively hiring AI talent across its global hubs in Barcelona, London, New York, and Kyiv.
Ukrainian Roots and Unshakable Resilience
Despite the ongoing conflict, Preply's commitment to its Ukrainian heritage remains firm. Around 150 of its 750 employees work from the Kyiv office. The facility is equipped with generators and starlink terminals, staying open 24/7 to provide a safe haven for the team during power outages and air raids.
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