Language-learning marketplace Preply has joined the billion-dollar club, closing a $150 million Series D that lifts its valuation to $1.2 billion.
The 14-year-old company, long known for pairing students with live tutors, has now been EBITDA profitable for a full year-a milestone that coincides with a rapid rollout of artificial-intelligence tools.
At a Glance
- Preply hits $1.2 billion valuation with fresh $150 million round
- Achieved 12 consecutive months of EBITDA profitability
- AI features now match learners to tutors and auto-generate lesson summaries
- Roughly 150 of the firm’s 750 employees still work from Kyiv despite Russia’s invasion
Why it matters: The raise spotlights both the global appetite for language tech and the resilience of Ukrainian-founded startups amid war.
Profitability Meets AI Push
While Preply has operated since 2013, the latest funding signals a strategic shift. The company has embedded AI across its platform without sidelining its 100,000 human tutors-an approach CEO Kirill Bigai describes as “human-guided and amplified by AI.”
Current AI features include:
- Personalized tutor-learner matching
- Auto-generated lesson summaries
- Homework assignments tailored to each student
Bigai told News Of Philadelphia the firm is now hiring AI specialists in its four hubs: Barcelona, London, New York and Kyiv-a location Preply never abandoned after Russia’s 2022 invasion.
Ukrainian Roots, Global Reach
Although headquartered in the United States, Preply was founded by Ukrainians and continues to anchor part of its workforce in the country. Out of 750 total staff, about 150 work from the Kyiv office, which remains open 24/7.
The office is equipped with generators, backup internet and heating to offset frequent power cuts and air-raid alerts. “Any Ukrainian team member can come to the office at any time,” Bigai said, noting that wartime conditions have bred “significant resilience and creativity” among staff.
WestCap Leads Round
The Series D was led by WestCap, the growth-equity firm run by Airbnb’s former CFO Laurence Tosi. Existing investors Horizon Capital, Hoxton Ventures, Owl Ventures and Techstars Berlin also participated.
WestCap’s track record of guiding companies to an IPO could prove relevant: while Preply has no set timeline for going public, Bigai said the firm will “continue to think about” the possibility.
Market Context
Preply now sits among a wave of Ukrainian-founded unicorns that includes Grammarly and fintech firm Fintech-IT Group. The language-learning space, meanwhile, has watched rival Duolingo face user backlash after declaring itself an “AI-first company,” making Preply’s tutor-centric stance a deliberate differentiator.
Key Takeaways
- Preply’s profitability plus fresh capital positions it for aggressive expansion
- AI integration focuses on tutor support, not replacement
- Continued Kyiv operations underscore commitment to Ukrainian talent
- WestCap’s involvement may pave the way for a future public listing
