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Preply

From Wikipedia, the free encyclopedia
Preply
Type of businessPrivate
Type of site
Educational
Available inEnglish, French, German, Italian, Polish, Russian, Spanish
Traded asPreply Inc.
Headquarters
Brookline, Massachusetts, United States
Country of originUkraine[1]
Area servedWorldwide
Founder(s)Kirill Bigai, Dmytro Voloshyn, Serge Lukianov
CEOKirill Bigai
IndustryLanguage learning
ServicesEducation service
Employees500+
URLpreply.com
LaunchedNovember 1, 2012; 12 years ago (2012-11-01)
Current statusActive
Native client(s) oniOS[2] and Android[3]

Preply is an online language learning marketplace that connects learners with tutors through a machine-learning-powered recommendation algorithm.[4] Beginning as a team of three in 2012, Preply has grown to over 675 employees made up of 50+ nationalities. The company has its main offices in Barcelona, London, New York and Kyiv, with employees based in over 15 countries in Europe, North America and Asia.[5]

Preply operates an online platform and mobile app, which connects learners with tutors for live, one-on-one classes. Using the students goals and preferences as a guide, the algorithm matches students to suitable tutors. In addition to live teaching, Preply uses AI-powered tools to provide personalised learning resources to support language learning for any purpose.[6]

History

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Preply was founded in 2012 by Ukrainian entrepreneurs Kirill Bigai, Serge Lukyanov, and Dmytro Voloshyn. Together they developed the first version of preply.com, which was launched in November 2013.[7][1] On August 31, 2013, Preply received an angel investment of $180,000. Some of the named investors in the funding round were Semyon Dukach, Borya Shakhnovich, Vadim Yasinovsky, Dan Pasko, Torben Majgaard and Vostok Ventures.[8] Preply's first expansion took place in its founding year, when it began expanding into the markets of other countries of Eastern Europe, including Belarus, Kazakhstan, Poland and Russia.[8]

In its first three years, Preply experienced a notable growth in both employee headcount and financial performance. In 2016, the employee count reached 100, marking a seven-fold increase in less than three years. In June 2016, Preply raised $1.3 million in funding from investors including Techstars, SMRK VCDigital and Arthur Kosten and the Preply platform was updated with a new ranking algorithm based on machine learning and used for classifying and recommending tutors..[9][10]

Preply Classroom, formerly known as Preply Space, was launched as the all-in-one language ecosystem. Classroom provided integrated video, online chat, screen sharing and other useful features.[11] The company also closed another round of funding during the same year.[12]

In 2019, Preply entered the Spanish market and opened an office in Barcelona. From there, it expanded further within European markets, offering services in both Britain and Germany.[13] It also launched its B2B division, known as Preply Business. This followed growing demand in the sector from companies seeking tailored language training solutions that could be used by their employees.

By March 2021, the company raised a total of $50.6 million through 8 funding rounds.[5][14]

In March 2022, after the Russian invasion of Ukraine, in support of Ukraine, a message of support was projected onto the Warsaw Spire building in Warsaw, Poland.[15]

Preply raised its largest single amount to date of $50 million via a funding round in July 2022.[16][17][18] In July 2023, the company raised an additional $70 million via an extended Series C funding round, which was led by Horizon Capital.[19] Funds were to be used for an artificial intelligence-based assistant focused on grammar explanations and conversation starters.[20] Preply opened an office in New York City in October 2023.[21] An office was opened in London in July 2024.[22]

Awards and recognition

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In May 2020, Preply won "The Revenue Hack of 2020" at the Ukrainian Startup Awards.[23]

References

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  1. ^ a b Renbarger, Madeline (August 29, 2023). "How Preply became one of the largest online language learning startups in the world". Business Insider.
  2. ^ "Preply: Learn languages". Apple App Store.
  3. ^ "Preply: Learn any language - Apps on Google Play". Google Play.
  4. ^ Lomas, Natasha (March 30, 2020). "Online tutoring marketplace Preply banks $10M to fuel growth in North America, Europe". TechCrunch.
  5. ^ a b Ghosh, Shona (March 9, 2021). "Language-learning marketplace Preply raises $35 million led by Silicon Valley investors". Business Insider.
  6. ^ Tucker, Charlotte (March 10, 2021). "Barcelona and Kyiv-based Preply raises €29.4 million to grow its online language learning platform". EU-Startups.
  7. ^ Ghosh, Shona (March 30, 2020). "Language lesson marketplace Preply closed $10 million just before COVID-19 hit and is now seeing a 50% spike in business". Business Insider.
  8. ^ a b "Ukrainian online tutoring platform Preply enters Polish market". Ukraine Digital News. February 2, 2015.
  9. ^ "Preply Raises $1.3M for Global Private Tutoring Marketplace". EdSurge. June 14, 2016.
  10. ^ Lomas, Natasha (June 7, 2016). "Preply pulls in $1.3M to expand its tutoring marketplace in Europe". TechCrunch.
  11. ^ Rogers, Stewart (July 24, 2018). "Preply raises $4 million to help young professionals speak in 40 languages". VentureBeat.
  12. ^ Krasnikov, Denys (July 25, 2018). "Ukrainian online tutoring platform Preply raises $4 million". Kyiv Post.
  13. ^ ""We plan to open an office in the U.S. in 2020," Kirill Bigai, Preply". AIN. 30 March 2020.
  14. ^ Mascarenhas, Natasha (March 9, 2021). "Preply raises a $35 million Series B as demand for language learning grows". TechCrunch.
  15. ^ Diaz, Jaclyn (March 25, 2022). "Have a message of support for Ukraine projected on Poland's Warsaw Spire building". NPR.
  16. ^ Browne, Ryan (July 19, 2023). "Ukrainian-founded Duolingo rival Preply banks $70 million to push into A.I." CNBC.
  17. ^ Lunden, Ingrid (July 13, 2022). "Ukrainian startup Preply beats the geopolitical odds with $50M to grow its language learning platform". TechCrunch.
  18. ^ Maffei, Lucia (April 4, 2022). "Brookline startup that helps find language tutors files for $19.5M fundraise". American City Business Journals.
  19. ^ Lunden, Ingrid (July 19, 2023). "Preply, the language app known for its live tutors, closes out Series C at $120M and doubles down on AI". TechCrunch.
  20. ^ Browne, Ryan (July 19, 2023). "Ukrainian-founded Duolingo rival Preply banks $70 million to push into A.I." CNBC.
  21. ^ Maffei, Lucia (October 26, 2023). "Why this language startup went with a NYC HQ instead of Boston". American City Business Journals.
  22. ^ "Preply Expansion: London Office and Growth". The Odessa Journal. 15 July 2024.
  23. ^ "TechUkraine news - Winners of the Ukrainian Startup Awards 2020". Techukraine. June 1, 2021.
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