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Preply Secures $150 Million in Series D Funding

Preply, the leading global platform for language learning, has successfully closed a Series D funding round, raising an impressive $150 million, spearheaded by WestCap. This latest investment propels Preply's valuation to $1.2 billion, marking a key milestone in its ongoing mission to democratize language education and provide personalized, high-quality learning opportunities worldwide.

Since its inception, Preply has been dedicated to reshaping the way learners acquire new languages. The platform currently connects over 100,000 tutors with learners in 180 countries, offering one-on-one lessons in more than 90 languages. By combining human-led instruction with innovative AI-supported tools, Preply is redefining the educational landscape, making transformative learning experiences accessible to everyone.

The Series D funding comes at a pivotal moment, as approximately 1.8 billion individuals globally are striving to become proficient in a second language. Reports indicate that the direct-to-consumer language learning market is set to grow to $227 billion by 2035, reflecting the soaring demand for language education.

Preply has notably tripled its number of bookable tutors since its last funding round and expanded its offerings by introducing over 40 new languages. With these new funds, the company aims to enhance its platform capabilities, strengthen its AI and data functionalities, and expedite its global expansion to better serve learners and tutors around the world.

As CEO Kirill Bigai highlights, this investment is not just a financial boost—it's an opportunity to continue innovating at the crossroads of human interaction and technology in education. Preply is steadfast in its commitment to the power of personalized learning experiences, maintaining that the human connection is pivotal to effective education. This is underscored by findings from a recent study, which revealed that learners progress significantly faster when guided by real human tutors rather than relying solely on automated systems.

Interestingly, the research indicated that over 96% of learners believe interacting with a human tutor is essential for their progression, while a staggering 97% felt that these interactions built their confidence. According to the study, participants progressed up to three times faster with a Preply tutor than industry benchmarks, showcasing that human guidance can profoundly influence the learning journey.

WestCap's Allen Mask, now a member of Preply's board, affirms that the company's approach sets a new standard for personalized education. As technology advances, Preply aims to leverage human instruction alongside digital innovations, responding to an ever-growing demand for accessible and effective language education methods.

With this funding round, Preply's total raised capital now stands at about $299 million. The backing from esteemed investors, such as the European Bank for Reconstruction and Development and Horizon Capital, instills confidence in Preply's mission and growth trajectory. As it further establishes itself as a leader in AI-enhanced language education, Preply continues to invite learners into an empowering community of education where personal connections enhance learning outcomes.

For additional information about Preply, visit Preply.com.