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Summary

Preply, a global language learning platform, raised $150 million in its Series D funding, led by WestCap, boosting its valuation to $1.2 billion. This investment aims to accelerate Preply's growth by enhancing AI-driven personalization and expanding internationally. The platform connects over 100,000 tutors with learners across 180 countries, offering lessons in more than 90 languages. With this funding, Preply plans to deepen its AI capabilities, emphasizing human-led, AI-supported education.
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Full Article (AI)

Trends and Impact 🌍 Preply, a leading language learning marketplace, has recently raised $150 million in a Series D funding round, elevating its valuation to $1.2 billion. This significant investment, led by WestCap with Goldman Sachs International as the sole placement agent, marks Preply's entry into unicorn status. The funds are earmarked for accelerating product development, enhancing AI and data capabilities, and fueling international growth. The company aims to revolutionize education through personalized, tutor-led learning supported by AI. Kirill Bigai, co-founder and CEO of Preply, emphasized the company's commitment to combining human connection with AI, stating, "We connect learners with the world’s best tutors, amplified by AI, bringing learning efficiency to a level that was previously unreachable." Practical Steps 🚀 With over 100,000 tutors and learners in 180 countries, Preply offers one-to-one lessons in more than 90 languages. The platform integrates human instruction with an AI-powered tutoring assistant that automates administrative tasks and provides insights, allowing tutors to focus on teaching. The fresh capital will expand Preply's product and engineering teams, deepen AI-driven personalization, and accelerate global expansion. The company is committed to human-led instruction, using AI as an enabler rather than a replacement. A recent study found that learners on Preply progress up to three times faster than average benchmarks, with significant improvements in confidence and language proficiency. Competitive Advantages 🏆 Preply's approach sets it apart from fully automated learning platforms by emphasizing the importance of human interaction. Research shows that 96% of learners believe real conversations with tutors are essential to their progress. The company's focus on measurable learning outcomes and its growing global presence reinforce its position as a leader in human-led, AI-enabled education. Allen Mask, a partner at WestCap and former Airbnb executive, noted, "Preply has the market-leading product, experienced leadership, and vision to shape how people communicate globally." With a total funding of around $299 million, Preply is well-positioned to continue its growth trajectory and redefine the language learning landscape.
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Business Impact

For European SMBs, Preply's approach of combining human instruction with AI could serve as a model for integrating technology into traditional service industries. As language proficiency becomes increasingly critical in a globalized economy, SMBs can leverage such platforms to upskill their workforce efficiently.
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Interesting Facts

  • Over 100,000 tutors on platform.
  • Present in 180 countries.
  • 90+ languages offered.
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Business Opportunities

SMBs in Europe can explore partnerships with platforms like Preply to provide language training for employees, enhancing competitiveness in international markets. Additionally, investing in AI-enhanced learning tools could improve overall productivity and employee engagement.
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LAZYSOFT Recommendations

LazysSoft should consider leveraging AI not as a replacement but as an enhancement to human-led services. This approach aligns with Preply's successful model, emphasizing the importance of human interaction supported by technology to achieve better outcomes.