Language Learning Market Preply’s unique position embodies Ukrainian resilience

Language learning market Preply is now valued at $1.2 billion after raising a $150 million Series D round that marks a new chapter for the 14-year-old company, whose previous backers include Horizon Capital, Hoxton Ventures, Owl Ventures and Techstars Berlin.

While Preply has been connecting language learners with teachers since 2013, it is now only trailing twelve-month EBITDA. Not coincidentally, it has also enhanced its AI integration to support its 100,000 teachers and continue expanding.

It’s a fine line — Duolingo faced backlash after announcing it would become an “AI-first company,” and teachers were Preply’s main differentiator. The company insists it won’t replace them, but AI could also bring consistency to a model that relies on freelance coaches. The future of learning “will be human-driven and AI-amplified,” Preply CEO Kirill Begay told TechCrunch.

According to Biggie, Preply is already applying AI to features like lesson summaries and homework, but also to match learners with teachers who best fit their needs. In order to develop these capabilities further, he said Preply is now recruiting AI talent across its four offices – Barcelona, ​​London and New York but also Kiev, which the company has not left despite the Russian invasion.

Although Preply is headquartered in the US, where it got its start, Bigai and his founders are Ukrainian and the company has been very actively supporting their home country. They have been doing this in a number of ways since the war began, including as employers. “We are very committed [to the] “Ukrainian office,” Begay said.

Of Preply’s 750 employees, about 150 people work from Kiev, although Russian strikes regularly force them into shelters and cause power outages that make the current freezing winter particularly difficult. “Our office has different generators, so we have electricity and internet, and the office is warm and open 24/7, so any Ukrainian team member can come to the office at any time,” Begay said.

These employees may be grateful to Preply, but Begay is grateful to them and has deep admiration for his team. “Ukrainians are going through very difficult times, and this builds a lot of resilience and creativity,” he said. Having to adapt to the reality of war and the uncertainty that surrounds it also changed Preply’s style. “I think the fact that the company has been through this experience — and how so many people have helped others — has made us stronger, more resilient and more creative,” he added.

With its new funding, the edtech company now joins the growing group of startups with Ukrainian roots, including Fintech-IT Group and Grammarly. But it may also follow in the footsteps of Airbnb, whose former CFO Lawrence Tosi led a Series D through his growth equity firm WestCap. While Begay said Preply doesn’t have a timeline or concrete plans for an IPO yet, he pointed to WestCap’s “tremendous experience in… [taking] “Public companies, which is one of the things we’ll continue to think about.”