Preply

Preply is an online language learning marketplace, connecting tutors to hundreds of thousands of learners in 180 countries worldwide. More than 35,000 tutors teach over 50 languages, powered by a machine-learning algorithm that recommends the best tutors for each learner.

It was founded in the United States in 2012 by three Ukrainian founders, Kirill Bigai, Serge Lukyanov, and Dmytro Voloshyn, Preply has grown from a team of 3 to a company of over 500 employees of 60 different nationalities. With offices in Barcelona, New York, and Kyiv, employees work across 30 countries in Europe, USA, Africa, Asia and Latin America.

History

The company was founded in 2012 by Ukrainian entrepreneurs Kirill Bigai, Dmytro Voloshyn, and Serge Lukyanov. The website, ''preply.com'', was launched in November 2013 with the focus on online language learning.

On August 31, 2013, Preply became a leading Ukrainian educational startup after an initial angel investment of $180,000 from Semyon Dukach, Borya Shakhnovich, Vadim Yasinovsky, Dan Pasko, Torben Majgaard, and Vostok Ventures.

In 2013, the company started expanding into markets of Ukraine, Belarus, Russia, Kazakhstan and Poland.

In 2016, the Preply platform was restructured by adding a ranking algorithm of machine learning for recommendations and classification of tutors. Preply raised $1.3 million in funding from investors like Techstars, SMRK VCDigital, and Arthur Kosten. The team experienced significant growth, with the employee count reaching 100, marking a seven-fold increase in less than three years.

In 2018, Preply Classroom (formerly Preply space) was launched as the all-in-one language learning ecosystem with the integrated video platform, online chat, screen sharing, and more.

In 2019, Preply opened a new office in Barcelona, Spain, and expanded its services into UK, Germany, and Spanish markets.

In 2021, Preply had accumulated a total of $50.6 million in investments through 8 funding rounds.

In February 2022, the company's Ukrainian co-founders faced the Russian invasion of Ukraine and ensured the safety and support of Preply's Ukrainian employees and their families.
In July 2022, Preply raised an additional $50 million of investment.

In August 2023, Preply extended their series C with an additional $70 million raise, led by Horizon Capital. The raise was announced in tandem with the launch of Preply’s AI assistant. The new funds will be used to extend leadership in the category through AI-powered human tutors. The company also opened a New York office.

Product

Preply’s product is based on AI-powered human tutoring. The company uses a machine learning algorithm to increase matching efficiency between learners and tutors on a variety of parameters such as price, availability, country of birth, other languages spoken, learning objectives and more.

Preply offers classes in 50 languages, with tutors functioning as independent contractors who set their own rates and schedules.

Recognition

In May 2020, Preply won “The Revenue Hack of 2020” at the Ukrainian Startup Awards.

Policies

According to the refund policy, a refund is available within 28 days of payment.

The commission for every trial lesson with a new student is 100%. For all the subsequent lessons, the tutor is charged a percentage of the hourly rate (between 18% and 33%).

References

External links

* {{official website, https://preply.com

E-learning
Language education
Educational technology companies of the United States
Distance education institutions based in the United States
Companies based in Massachusetts
Online marketplaces of the United States