Preply adds €127 million and nearly triples valuation as it scales AI and tutoring platform globally

Preply, a global language learning platform with operations in the US and Spain, recently secured €127 million in a Series D funding round. This substantial investment nearly triples the company's valuation to €1 billion and underscores the growing importance of AI in education technology. The funding will be used to enhance Preply's AI and data capabilities, expand its product and engineering teams, and drive global expansion. The funding round was led by WestCap with support from Índico Capital Partners, bringing Preply's total funding to approximately €254 million to date. Preply's platform connects users with tutors and uses AI to personalize the learning experience. The company’s focus is on innovating at the intersection of human tutoring and AI to improve learning efficiency. This investment highlights the increasing interest in EdTech, particularly platforms that utilize AI for personalized learning, in Europe. This includes investments in Germany, the UK, Switzerland, France, Denmark, and Italy, with companies like Knowunity, MyEdSpace, Evulpo, Filiz, Alice, and Tutornow also securing significant funding. These companies are focused on various aspects of digital education, from writing skills and AI tutors to digital private education and study tools. The investment in Preply follows a trend of capital flow into European EdTech, with a focus on AI-driven personalization. These investments signal the European market's potential in digital learning and its commitment to integrating cutting-edge technologies to transform the educational landscape.