The language learning platform Preplyfounded in Ukraine in 2012, announced today that it has received a loan of 50 million dollars. A series C round that brings the company capital to 100 million, to the great satisfaction of the founders Kirill Bigai, Serge Lukyanov and Dmytro Voloshyn.
A year definitely worth framing for the company, which despite the dramatic Ukrainian conflict managed to maintain a global business, with over 400 employees in 38 countries of the world. I am currently over 32,000 teachers offering lessons in more than 50 languages.
Preply and the 50 million loan: a year in constant growth
The funding, a Series C round, was led by Owl Ventures, the world’s largest edu-tech investor based in Silicon Valley. Previous Preply investors also participated in the round: da Diligent Capital, Hoxton Ventures, Educapital, Evli Growth Partners, fino a Przemyslaw Gacekas well as new investors such as Swisscom Ventures e Orbit Capital.
According to the estimates of the Language learning market, Preply is currently on the right path to conquer the leadership position in the online language learning market. In fact, it is estimated that the company can reach the $ 47 billion by 2025. Confirming this is the fact that, in the last year, Preply has tripled its business in the corporate sector with clients like Bytedance (Tiktok), Mercedes e McKinsey.
“I’m really proud of what the Preply team has achieved.” he has declared Kirill Bigai, co-founder and CEO of Preply. “We have become a world leader in language learning, the preferred platform for many teachers who have decided to teach online. With this recent funding, we plan to increase our presence in the United States and Europe and to evolve the platform with Artificial Intelligence technology. Thanks to smart matching, students will be able to more easily find the right teachers for their needs, always with the aim of creating the largest language learning community in the world ”.
Preply data in Italy: more and more students use the platform
In Italy, about 63% of Preply subscribers use the platform to study English. According to a company survey, Italians use the platform for the purpose of improve their career (38%)per increase conversation skills (26%) and for prepare for an exam (12%).
More generally, Italian is the seventh most studied language on Preply. In particular, students of Italian are mainly located in the United States, Great Britain, Germany, Poland, Spain and France.