Language learning startup Preply has been valued at $1.2bn after raising a $150m Series D round.
Launched in 2012, the Ukrainian-founded edtech connects more than 100k language tutors with students across 180 countries, facilitating lessons in more than 90 languages.
Originally based in Kyiv, Preply opened a new global HQ in New York in 2023, 18 months after Russia’s full-scale invasion of Ukraine. The company retains offices in Kyiv, Barcelona and London.
Preply’s latest funding round was led by New York-based investment firm WestCap, with support from Portuguese VC Indico Capital Partners. Previous investors include the European Bank for Reconstruction and Development and Hoxton Ventures.
While competitors such as Duolingo and other app-first platforms have increasingly focused on self-guided, AI-driven exercises, Preply has built its business around live, one-to-one lessons with real tutors, using technology to support, rather than replace, human instruction.
The company said it would use the funds to advance its AI and data capabilities, while upping recruitment for its product and engineering teams.
“Data shows that learners thrive when real human instruction is supported by technology, in today’s increasingly connected world,” says Allen Mask, partner at WestCap and former senior executive at Airbnb, who joined Preply's board as part of the deal.
“There is a real demand for democratising access to high-quality learning in a modern and effective way.”
