Another major milestone for the Ukrainian tech ecosystem: EdTech giant Preply officially secures unicorn status, proving the resilience and global potential of Ukrainian innovation.
The Ukrainian startup scene celebrates a massive win. Preply, the Kyiv-founded online learning platform, has closed its Series D investment round, boosting its valuation to $1.2 billion. This achievement places the company alongside legendary Ukrainian-born tech giants like Grammarly and the Fintech-IT Group (creators of the mono ecosystem).
Deal Details
Preply raised $150 million in this latest round, led by WestCap. With this tranche, the total investment in the company over its history has surpassed $299 million.
Global investors continue to bet on Ukrainian founders. The round saw participation from long-time partners including Horizon Capital, Hoxton Ventures, Owl Ventures, and Techstars Berlin.
From Kyiv to Global Leadership
Preply’s journey is a textbook example of how an idea born in Ukraine can scale globally.
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Founders: Kirill Bigai, Serge Lukianov, and Dmytro Voloshyn launched the project in 2012.
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Reach: Today, the platform connects over 100,000 tutors with students from 180 countries.
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Team: The company employs 750 people, with approximately 150 specialists continuing to work from the Kyiv office.
Focus on AI and Profitability
A key marker of business maturity: CEO Kirill Bigai noted that since late 2024, the project has reached operational profitability by EBITDA.
The new funds will be directed toward two key areas:
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R&D Scaling: Expanding technical teams, specifically in the New York and London hubs.
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AI Innovation: Developing personalized AI assistants. According to Bigai, these functions will help students take notes, track progress, and identify strengths and weaknesses. Currently available for English and Spanish, the goal is to roll this out across all languages on the platform.
Beyond the Valuation
This milestone represents more than just a financial achievement. It highlights a shift in what global investors value most: not just rapid growth, but the ability to build a sustainable, profitable business. Preply’s success proves that strong fundamentals are the best strategy, regardless of external challenges. For the industry, this is a clear signal that capital follows quality and operational efficiency above all else.
Source: DEV.ua
