Preply raises $150M to enhance human-led language learning with AI – News

Global language learning marketplace Preply Inc. said today it has raised $150 million in a late-stage funding round that will help accelerate the adoption of its platform, which pairs human teachers with artificial intelligence co-pilots to enhance learning experiences.

WestCap was named as the sole investor in the Series D round, which brings Preply’s total amount raised to date to $299 million and its valuation to $1.2 billion.

Founded back in 2012, Preply is a pioneer of online learning, operating a global marketplace of more than 100,000 human tutors that serves learners in more than 180 countries. Its platform offers one-on-one tuition for more than 90 languages.

More recently, Preply has been breaking new ground in the use of AI to enhance education. It offers a suite of AI tools that can help to personalize learning experiences in various ways. For instance, it offers AI-generated summaries of each lesson, together with feedback on the learner’s grammar and vocabulary. It can also be used to create daily exercises for learners and practice scenarios for them to test what they’ve learned in earlier lessons.

In addition, Preply offers AI-powered teaching assistants for its tutors, making it easier for them to generate custom teaching materials for each student and enhance the effectiveness of their tutoring. The goal is to help students achieve progress and achieve proficiency faster.

Preply says today’s round is timely, because it estimates there are about 1.8 billion people in the world, or roughly one in four of the world’s population, who are actively trying to learn a new language. The global education data platform HolonIQ forecasts the global direct-to-consumer language learning market to reach $227 billion by the end of 2025, and that goes some way to explaining why Preply has been able to triple its revenue in the last five years.

Since its previous funding round three years ago, Preply has tripled the number of tutors on its books and has expanded its offerings with more than 40 new languages available to learn. Going forward, the company wants to expand its AI and data capabilities and grow its product and engineering teams so it can reach more learners and tutors globally as it strives to reshape the way people learn second languages. WestCap, which previously helped to scale up global marketplaces such as Airbnb and StubHub, will provide invaluable expertise, the company said.

Preply co-founder and Chief Executive Kirill Bigai said he feels a deep responsibility regarding his company’s role in shaping global learning experiences, but he believes he’s doing a very good job of it. “We connect people with the world’s best tutors, amplified by AI, bringing learning efficiency to a level that was previously unreachable,” he said. “This investment will help us to continue to innovate at the intersection of human tutoring and AI, creating opportunities everywhere for people to connect, belong and succeed.”

Although Preply wants to double down on its AI capabilities, it stressed that it’s not going to turn to automation at the expense of humans. Rather, its focus remains on using AI simply to enhance tutor-driven learning and support. It highlights an internal study from last year, which found that 96% of its learners consider a human connection, and the ability to engage in real conversations with another person, as essential to their progress.

WestCap Partner Allen Mask said the opportunities for Preply are virtually limitless. “Data shows that learners thrive when real human instruction is supported by technology, and in today’s increasingly connected world, there is a real demand for democratizing access to high-quality learning in a modern and effective way,” he said.

Image: Preply