Language learning marketplace Preply’s unicorn status embodies Ukrainian resilience

Preply, the language learning platform, has reached a significant milestone with a valuation of $1.2 billion following a successful $150 million Series D funding round. This achievement marks a pivotal moment for the company, which has been connecting language learners with tutors since its inception in 2013. Notably, Preply has maintained profitability at the EBITDA level for the past year. The integration of artificial intelligence has played a critical role in Preply's growth strategy, supporting its network of 100,000 tutors while enhancing its service offerings. CEO Kirill Bigai emphasized that AI will serve to complement, rather than replace, human instructors. He stated, "The future of learning is going to be human-guided and amplified by AI," highlighting the importance of tutors as a key differentiator in Preply's business model. Currently, Preply utilizes AI for various functions, including creating lesson summaries and homework assignments, as well as optimizing the matching process between learners and tutors. To further enhance these capabilities, the company is actively recruiting AI professionals across its offices in Barcelona, London, New York, and Kyiv. Despite the ongoing challenges posed by the Russian invasion, Preply remains committed to its Ukrainian roots, with approximately 150 of its 750 employees working from Kyiv. Bigai expressed admiration for his team's resilience in the face of adversity, noting, "Ukrainians are going through very challenging times, and it builds a significant resilience and creativity." The company's ability to adapt to the realities of war has made it stronger and more innovative. With this new funding, Preply joins a growing list of Ukrainian-founded unicorns, alongside companies like Grammarly and Fintech-IT Group. Although Bigai has not set a timeline for an initial public offering, he acknowledged the valuable insights from WestCap’s Laurence Tosi, who led the Series D funding, about potential future public offerings.