It has been a couple of years since we profiled Ukrainian startup Preply, which connects its customers with English-language tutors, but the company now announces that they have taken in $1.3 million in funding from a group of investors that includes private investors, such as angels Mariusz Gralewski, Przemyslaw Gacek, and Arthur Kosten, as well as Hedgehog Fund, and involves participation by RTAVentures VC, Xevin Investments, Digital Future, SMRK, Techstars, and other angels. With the funding, the company intends to support the long-term development of products for private tutors and aim to increase its growth through international expansion. They also intend to hire new staff, but did not go into detail.
In addition to the funding, the startup revealed that they have increased the size of their team five-fold and revenue ten-fold since 2015, when they participated in the program at Techstars Berlin. The company launched in 2013 and now operates in Ukraine, Poland, Russia, Mexico, and Brazil, with Germany, the United Kingdom, and Spain next on the list for expansion. Preply reports that they have 25,000 tutors offering services to 70,000 students in 27 world languages, 13 school subjects, and even in fields such as acting, music, and art. All told, their platform facilitates 10,000 hours worth of lessons each month.