Language learning market Status unicorn Preply contains Ukrainian resilience

Language learning market Preply now valued at $ 1.2 billion after raising $ 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 students with tutors since 2013, it has now achieved twelve months of EBITDA profit. Not coincidentally, it is also increasing AI integration to support 100,000 tutors and continue to scale.

This is a fine line – Duolingo faced a backlash after announcing it would be “an AI-first company,” and tutoring have been key differentiators for Preply. The company is adamant it won’t change — but AI can also bring consistency to a model that relies on instructors working alone. The future of learning “will be human-led and augmented by AI,” Preply CEO Kirill Bigai told TechCrunch.

According to Bigai, Preply has applied AI for features such as lesson summaries and homework, but it also matches students with tutors that best suit their needs. To further develop these capabilities, Preply said it currently hires AI talent in four offices – Barcelona, ​​​​London and New York but also Kyiv, which the company did not abandon despite the Russian invasion.

Although Preply is headquartered in the US, where it got its the first startBigai and cofounders are Ukrainians and the company has been very active support their country of origin. He has done so in many ways since the war began, including as an employer. “We are very loyal (to) the Ukrainian office,” said Bigai.

Of Preply’s 750 employees, about 150 work from Kyiv, although Russian attacks regularly force them into shelters and causing a power outage which has made the current freezing season particularly challenging. “Our office has a different generator so we have electricity, Internet, and the office is warm and open 24/7 so any member of the Ukrainian team can come to the office at any time,” said Bigai.

These employees may be grateful to Preply – but Bigai is grateful to them and respects them. “Ukrainians are going through a very challenging time, and build outstanding resilience and creativity,” he said. Having to adapt to the realities and uncertainties of war also changed the Preply. “I think the fact that the company went through this experience – and how many people helped others – made us stronger, more resilient, more creative,” he said.

With the new funding, the edtech company has now joined a growing group of unicorns with Ukrainian roots, incl Fintech-IT Group and Grammarly. But it could follow in the footsteps of Airbnb, whose former CFO Laurence Tosi led the Series D through his growth equity firm, WestCap. While Bigai said Preply doesn’t yet have a timeline or concrete IPO plans, he noted WestCap’s “phenomenal experience in (taking) public companies, which is one thing we will continue to consider.”