Preply, a leading online learning platform, has announced a significant milestone in its mission to make language learning accessible and effective for all. The company has raised $150 million in a Series D funding round, valuing it at $1.2 billion and cementing its position as a pioneer in the ed-tech industry.
What’s Happening
Preply’s funding round was led by WestCap, with participation from existing investors. The investment will be used to further develop Preply’s AI-enhanced language learning platform, expand its global reach, and strengthen its position in the market.
Preply raises $150M to revolutionize language learning with AI! Discover how this innovative platform is making education more accessible and effective #Preply #LanguageLearning #AI
Context and Significance
The funding comes at a time when the demand for online language learning is on the rise. With over 1.8 billion people worldwide learning a new language, the market is expected to reach $227 billion by 2035. Preply’s innovative approach, which combines human-led instruction with AI-powered tools, is well-positioned to capitalize on this trend.
Quote: ‘Our goal is to make language learning accessible and effective for everyone, and this funding will help us achieve that.’ Attribution: Kirill Bigai, CEO of Preply
Laura Lurns · Learning Success expert
Implications and Applications
The investment will enable Preply to enhance its platform, expand its tutor network, and improve its AI co-pilot technology. This will allow the company to offer more personalized and effective language learning experiences to its users, setting a new standard in the industry.
Key takeaways
- Key Investment: $150 million Series D funding
- Valuation: $1.2 billion
- Market Potential: $227 billion by 2035
Looking Ahead
With its newfound funding, Preply is poised to make a significant impact on the language learning landscape. As the company continues to innovate and expand its offerings, it is likely to play a major role in shaping the future of ed-tech and making language learning more accessible and enjoyable for people around the world.
As Preply continues to push the boundaries of what is possible in language learning, its commitment to making education more accessible and effective is inspiring. With its innovative approach and significant funding, the company is well on its way to achieving its mission of empowering people around the world to learn and grow.
Ready to experience the future of language learning? Start your journey with Preply today and discover a more effective and enjoyable way to learn a new language.
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References
- Preply - Preply Raises $150M at $1.2bn Valuation to Scale Human-Led, AI-Enhanced Learning
