Preply’s Unicorn Status Reflects Ukrainian Resilience

Language learning platform Preply has reached a $1.2 billion valuation following a $150 million Series D funding round, marking a significant milestone for the 14-year-old company. Previous investors include Horizon Capital, Hoxton Ventures, Owl Ventures, and Techstars Berlin.

Since connecting language learners with tutors in 2013, Preply has achieved twelve months of EBITDA profitability. Concurrently, the company has accelerated its AI integration to support its network of 100,000 tutors and drive further growth.

This balance is delicate — Duolingo faced criticism after positioning itself as an “AI-first company,” and human tutors remain Preply’s key differentiator. The company insists it will not replace tutors, but AI enhances consistency in a model reliant on independent instructors. Preply CEO Kirill Bigai told TechCrunch that the future of education “is going to be human-guided and amplified by AI.”

According to Bigai, Preply already uses AI for features like lesson summaries and homework, as well as matching learners with suitable tutors. To expand these capabilities, the company is hiring AI specialists across its offices in Barcelona, London, New York, and Kyiv, which it has retained despite the Russian invasion.

Although headquartered in the U.S., Bigai and his co-founders are Ukrainian, and the company has actively supported their home country since the war began. “We are very committed [to the] Ukrainian office,” Bigai stated.

Of Preply’s 750 employees, approximately 150 work from Kyiv. Despite regular Russian strikes causing power outages and forcing staff into shelters during a harsh winter, the office remains operational. “Our office has different generators so we have electricity, Internet, and the office is warm and it’s open 24/7 so any Ukrainian team member can come to the office at any time,” Bigai explained.

While employees appreciate Preply’s support, Bigai expresses deep admiration for his team. “Ukrainians are going through very challenging times, and it builds a significant resilience and creativity,” he said. Adapting to the uncertainty of war has also transformed Preply. “I think the fact that the company went through this experience — and how so many people helped other people — made us stronger, more resilient, more creative,” he added.

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With this new funding, the edtech firm joins other Ukrainian-rooted unicorns like Fintech-IT Group and Grammarly. It may also follow Airbnb’s path, whose former CFO Laurence Tosi led the Series D through his growth equity firm, WestCap. While Bigai noted there are no immediate IPO plans, he highlighted WestCap’s “phenomenal experience in [taking] companies public, which is one of the things that we will continue to think about.”