News Summary

• AI has enormous potential to improve the effectiveness of tutors and the experience of learners, and Preply is on the leading edge of incorporating AI into the learning journey.”Updated with more details about the mix of debt and equity.
• The company’s last round was at a $432 million valuation, and it declined to say how that’s changed with this latest injection of funding.
• Language learning platform Preply made a name for itself for connecting students with a selection of some 35,000 tutors and group classes across some 50 languages.
• One that echoes the resilience and determination of the Ukrainian tech sector and all Ukrainians.”“We are excited to partner with Preply’s visionary co-founders and their exceptional management team,” said Dmytro Boroday, a partner at Horizon Capital, in a statement.
• “Preply is one of the fastest-growing global edtech brands, now leading the live language learning category.
• Though the team today is truly global, as a Ukrainian-founded company with significant R&D in Ukraine, this is a milestone to be celebrated.