Preply, a global edtech marketplace for tutor-based foreign language learning, raised $35m in Series B funding.
The round was co-led by Owl Ventures and Full In Partners, with participation from previous investors Point Nine Capital, Hoxton Ventures, as well as EduCapital, All Iron, Diligent Capital and Evli Growth Partners. Angel investors Niklas Ostberg, co-founder and CEO of Delivery Hero, Arthur Kosten, co-founder of Booking.com, Przemyslaw Gacek, co-founder of Grupa Pracuj, and David Helgason, co-founder of Unity Technologies are also participants.
The company intends to use the funds to double its workforce across all divisions and locations and expand its business reach.
Founded in 2013 by the Ukrainian-based team of Kirill Bigai, Serge Lukyanov, and Dmytro Voloshyn, Preply is an online learning platform connecting more than 40,000 bookable tutors teaching 50 languages to hundreds of thousands of learners in 180 countries worldwide. With student-tutor matches being suggested through a machine-learning algorithm, recommended tutors create customized lesson plans to suit the learner’s budget, schedule, and current knowledge. Each day, tens of thousands of students take classes from teachers of 160 nationalities.
The company has 250 employees of 36 different nationalities at offices in Kyiv and Barcelona.