Preply is a Spanish edtech that has become the largest investor in educational technology in the world. This marketplace puts hundreds of thousands of students in contact with more than 32,000 tutors teaching more than 50 languages.
He Spanish It is the second most demanded language after English. They are followed by Chinese, French, Arabic, Italian, Japanese, German and Portuguese.
Its learning model is based on Artificial Intelligence. Preply offers a product based on the relationship between student and tutor, using a machine learning algorithm to increase the effectiveness of this relationship based on different concepts such as country of birth, other languages spoken, available hours, price or objectives Learning. The student at all times has access to the teacher’s presentation video, as well as his methodology and the scores of other students.
In fact, the company has more than 32,000 experienced teachers, more than 300,000 opinions from five-star teachers, more than 120 subjects taught and tutors from more than 200 nationalities.
The company was founded in 2012 by Ukrainian entrepreneurs Kirill Bigai, current CEO; Serge Lukyanov and Dmytro Voloshyn and has two offices, one in Spain, specifically in Barcelonaand another in kyiv. In total there are 250 employees, of which 100 are in our country.
Series C financing round of 50 million dollars
In July 2022, Preply was successful in closing a $50 million Series C funding round. It was led by Owl Ventures, which is based in Silicon Valley and is the largest edtech investor on the planet. Similarly, previous investors such as Booking, Diligent Capital, Hoxton Ventures, Educapital, Evli Growth Partners and Przemyslaw Gacek, co-founder of Grupa Pracuj participated; and new investors such as Swisscom Ventures, and Orbit Capital.
In total, the edtech accumulates more than 100 million dollars in investment since its birth. This circumstance has allowed it to go from being a teaching startup to becoming a global e-learning center that connects the largest online language teaching community in the world.
Among its main clients are TikTok, Mercedes or McKinsey. In addition, in the last year, the company has tripled its B2B business volume and has multiplied the number of individual users by four. The goal is to conquer the online learning market, which by 2025 is expected to reach $47 billion.
