Preply’s Tale of Innovation and Resilience
In the bustling tech landscape of 2012, amidst countless startups vying for attention, three Ukrainian visionaries embarked on a mission to revolutionize language learning. Their journey would not only reshape the industry but also withstand the turmoil of geopolitical conflict.
Kirill Bigai, Dmytro Voloshyn, and Serge Lukianov founded Preply, an online platform designed to connect language learners with tutors worldwide. Because of their background as activists during Kyiv’s 2013 Euromaidan protest, which demanded Ukraine’s opening to the West, the co-founders realized that their generation of youth needed to learn foreign languages to achieve an international reach. Thus, their objective/project/idea was born: to build a global community where learning a new language is as intuitive and straightforward as making a video call. Kirill, Dmytro, and Serge knew each other from University and united their diverse expertise in strategy, technology, and marketing to address the gaps in language education. Kirill steered the company with strategic insight, whilst Dmytro developed a robust infrastructure. Moreover, Serge crafted effective market entry and user acquisition strategies. Their mission is simple; to democratize access to high-quality language education, using technology to provide personalized and scalable learning experiences.
In 2015, Preply joined the Techstar incubator in Berlin and later on in the USA where it was officially incorporated in Brookline/MA. Once the business started to scale globally, Kirill and his team set up their global HQ in Barcelona. However, the company always maintained strong ties with Ukraine where most of their development and customer support teams were based. As the geopolitical landscape shifted again dramatically in 2022 with the onset of the Ukraine-Russia war, Preply faced unprecedented challenges. Over 90 employees in Kyiv needed to move to a safe harbor. The company prepared a contingency plan which was quickly set in motion. This consisted of temporary accommodation and offices in Lviv and Warsaw allowing employees to continue working and keeping some normality amidst the turmoil. Simultaneously, Preply was raising its Series C financing round.
After thoroughly evaluating Preply’s product-market fit and strategy, Swisscom Ventures joined the series C funding round in early 2022. They were fully convinced that the C-level team was exceptional and capable of handling even the most extreme challenges a company can face. This was the start of a partnership that was not just about financial backing but also a testament to Swisscom Venture’s belief in Preply’s mission and resilience/tenacity. The investment from Swisscom Ventures and other Series-C investors provided the capital injection Preply needed to further accelerate its growth. The company was able to secure its operations, support its team, and continue scaling the platform. Through this support, Preply’s growth accelerated to reach triple-digit annual net revenue numbers. In addition to this, Preply invested significantly in its technology stack and started to develop more and more AI features, mostly focusing on supporting tutors in providing individualized learning experiences rather than replacing them.
In the spirit of a global survey, Preply released an article, in April 2024, called “AI vs. Humans in Learning: The Importance of Human Interaction”, highlighting both the benefits and concerns associated with AI in education.
The survey revealed that 73% of online students are apprehensive when using AI while learning, fearing the lack of human connection and data privacy. Despite this, students are aware of AI’s values, particularly in terms of affordability and convenience.
Kirill Bigai, co-founder and CEO of Preply, emphasizes the importance of human connection in learning:
“While we see immense interest and higher-than-expected adoption of our proprietary AI tools at Preply, the value of human connection cannot be overstated. The shared jokes, mutual understanding, sense of companionship, and the relatability of conversing with a real person all drive outcomes,”.
Preply’s commitment to integrating AI responsibly has not gone unnoticed. In July 2023, they closed an extension to its Series C funding round, focusing on AI advancement while keeping the human element at the core. This funding round was pivotal in scaling operations, expanding their tutor base, and enhancing their technological infrastructure.
Despite the challenges, Preply’s innovative approach and dedication to quality quickly gained traction, leading to substantial growth. The company has received significant recognition, such as being named the top 100 future unicorns by VivaTech and securing $10 million from the IFC, EBRD, and Horizon Capital.
In almost 10 years, Preply has grown from a small startup to a global leader in online language learning, connecting 50,000 tutors with learners in every country worldwide. As the company has grown, so has its impact. Testimonials from users highlight the platform’s transformative power. Students preparing for language proficiency exams, professionals improving business language skills and casual learners exploring new languages, all praise Preply for its personalized and flexible learning experience. One student shared;
“Preply changed my life. I was able to learn English quickly and confidently, which opened up new job opportunities for me.”
Preply’s journey from a startup to a global leader in online language learning is a testament to the vision and dedication of its founders, the resilience of its team, and the strategic support from partners like Swisscom Ventures. The partnership with Swisscom Ventures, especially during their challenging times, underscores the strength of their collaboration and their shared commitment to innovation, resilience, and global connectivity. Alexander Schläpfer, Investment Partner at Swisscom Ventures says:
“When I first came into contact with Kirill and his C-level team, I was convinced that they were capable of building a category leader. Giving very good answers to many of my questions but – at the same time – intently listening and asking questions back. This is a team that is constantly looking to improve, learn, and grow. Relentlessly executing, while remaining humble.”
Preply’s success story highlights the transformative power of technology and the unwavering spirit of its founders. You can learn more about Preply please visit www.preply.com.