Preply, a global online language tutoring platform, has secured $1.2 billion in new investment capital from investors. This significant funding round underscores the company's strong position in the rapidly expanding online education sector. Preply connects learners with over 100,000 tutors who teach more than 90 languages to students across 175 countries, facilitating personalized learning experiences designed to foster progress and sustained engagement.
The company's mission is to power people's progress by creating life-changing learning experiences. Preply achieves this by helping individuals find the best tutors, embark on a personalized learning journey, and maintain the motivation necessary for continuous learning. Its platform supports both individual consumers and enterprise clients, driven by a commitment to perfecting the customer experience.
This substantial capital infusion follows a period of considerable growth for Preply, which has seen a tenfold increase in revenues over the last five years. The company currently leads the online language tutoring segment globally, supported by a team of over 700 employees representing more than 60 nationalities, with operations spanning Barcelona, Kyiv, London, and the US. The newly raised funds are expected to be deployed towards accelerating product development, expanding its global reach, and enhancing its technological infrastructure to further personalize the learning journey for its growing user base.
The investment is poised to strengthen Preply's market leadership and support its strategic initiatives aimed at deepening its impact on the global language learning landscape. Preply plans to continue its focus on innovation and customer satisfaction, ensuring it remains at the forefront of online educational progress. This funding round positions the company for sustained growth and continued expansion into new markets and learning opportunities.
