Language learning market Preply a unicorn status represents Ukrainian courage

language learning market Preply is now valued at $1.2 billion after raising a $150 million Series D round that marks a new chapter for the 14-year-old company, whose previous backers include Horizon Capital, Hoxton Ventures, Owl Ventures and Techstars Berlin.

Although Preply has been connecting language learners and teachers since 2013, it has now been profitable for EBITDA for twelve months. Not by accident, it has added AI integration support its 100,000 teachers and continue to expand.

That’s a good line – Duolingo met back after announcing that it will be company “AI-first,” and teachers have been a major differentiator for Preply. The company insists it won’t replace them — but AI could bring flexibility to a model that relies on self-employed teachers. The future of learning “will be human-led and augmented by AI,” Preply CEO Kirill Bigai told TechCrunch.

According to Bigai, Preply is also using AI for things like lesson summaries and homework, as well as matching students with teachers who meet their needs. To improve this technology, he said Preply is hiring AI talent in its four offices – Barcelona, ​​London and New York as well as Kyiv, which the company did not stop even after the Russian attack.

Although Preply is based in the US, where it was founded the first beginningBikai’s co-founders are Ukrainian and the company has been very active to help their country. They have been doing this in a number of ways since the start of the war, including as employers. “We are very committed (to) the Ukrainian office,” Bikai said.

Of Preply’s 750 employees, about 150 work from Kyiv, although frequent Russian raids force them into the shelter. causing power outages which has made the cold winter very difficult. “Our office has multiple generators so we have electricity, internet, and the office is heated and open 24/7 so any member of the Ukrainian team can come to the office at any time,” Bigai said.

The workers may thank Preply – but Bigai thanks them and admires his people even more. “The people of Ukraine are facing a lot of difficulties, and it makes for courage and resourcefulness,” he said. Dealing with the reality and uncertainty of war also changed Preply. “I think the company’s experience of this – and the way so many people have helped other people – has made us stronger, braver, more creative,” he added.

With its new funding, the edtech company has now joined the growing unicorn community with Ukrainian roots, including Fintech-IT group and By Grammar. But it could also follow in the footsteps of Airbnb, whose former CFO Laurence Tosi led the Series D through his venture capital firm, WestCap. Although Bigai said that Preply does not have a timetable or a specific plan for the IPO, he said that “WestCap’s interests” in (taking) the company public, which is one of the things that we will continue to consider.”