Edtech platform Preply, has secured an additional $35 million of funding, a number that’s larger than all of their fundraising activities since 2013.
The round was co-led by Owl Ventures and Full In Partners, with participation from previous investors Point Nine Capital, Hoxton Ventures and All Iron.
Likewise former angel investors Delivery Hero co-founder and CEO Niklas Ostberg, Booking.com co-founder Arthur Kosten, Unity Technologies co-founder David Helgason, Przemyslaw Gacek, co-founder of Grupa Pracuj, and former Upwork CEO Gary Swart were involved with this series B funding.
While a global pandemic might have disrupted quite a few things that we all used to take for granted, the business of education must carry on, and it’s been an exceptional year for Preply.
In total, the firm quadrupled that number of active learners and tutors, GMV and overall revenues. Preply points to their human-led approach and proprietary curriculum that covers the full learning journey as a key to their success. Combined with AI powered features, Preply has increased the length of time each learner spends on the platform, ultimately translating into a 16% increase in purchased lessons per student.
“This round represents an exceptional achievement for the entire team following the exciting journey over the past years. This new funding will help us tackle a variety of strategic priorities, as we plan to double our workforce across all divisions and locations. We’ll add more value for both students and tutors by improving support systems and amplifying the classroom and curriculum experience which has proved so valuable already,” comments Preply CEO Kirill Bigai.
Just shy of a year ago, we spoke to Kirill about Preply's $10 mil raise.
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