Preply Joins Unicorn Club Amidst Ukrainian Resilience

United States - Ekhbary News Agency

Language learning marketplace Preply has officially joined the coveted unicorn club, achieving a valuation of $1.2 billion following a substantial $150 million Series D funding round. This milestone marks a significant new chapter for the 14-year-old company, underscoring the resilience and innovative spirit of its Ukrainian roots within the global edtech landscape.

Navigating Global Challenges

Despite the ongoing geopolitical complexities, Preply has demonstrated unwavering commitment to its Ukrainian operations and workforce. Approximately 150 of its 750 global employees are based in Kyiv, a testament to the company's dedication to its home country. Preply has implemented robust support systems for its Kyiv office, including generators and internet connectivity, ensuring operational continuity even amidst power outages and the harsh winter conditions. This commitment highlights the company's deep connection to its origins and its people.

AI Integration and Enhanced Learning

Preply is strategically enhancing its platform through significant AI integration, aiming to empower its 100,000 tutors and elevate the learning experience for users worldwide. CEO Kirill Bigai emphasizes a future where learning is "human-guided and amplified by AI," noting that AI can bring crucial consistency and support to a model reliant on independent instructors. Current AI applications include generating lesson summaries, assisting with homework, and optimizing the matching of learners with suitable tutors, ensuring a personalized and effective educational journey.

Future Prospects and Growth

With this new influx of capital, Preply aligns itself with a growing cohort of successful tech companies originating from Ukraine, such as Grammarly. Facilitated by WestCap, a growth equity firm led by former Airbnb CFO Laurence Tosi, Preply is well-positioned for future growth. While concrete IPO timelines are yet to be defined, the company is leveraging WestCap's extensive experience in taking companies public, signaling ambitious long-term aspirations.

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