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Preply raises a $35 million Series B as demand for language learning grows
Preply, a tutoring marketplace for language learning, has raised a $35 million Series B co-led by Full In Partners and Owl Ventures, an edtech fund that has backed Byju’s and Newsela. The raise comes nearly a year after the company landed a $10 million Series A. Investors in Preply include Point Nine Capital, Hoxton Ventures, EduCapital, All Iron, Diligent Capital and Evli Growth Partners.
Preply’s recent growth, as well as a global boom in language learning, explains the current investor interest.
When it closed its Series A, Preply had 2 million booked lessons and 10,000 vetted tutors. One year later, there have been more than 10 million lessons booked on the platform, and the tutor network has grown to 40,000 people across 190 countries. The startup was eyeing United States expansion in 2020, and today, one-third of its revenue comes from the country, making it the largest market in which the company
Spain s startups avoided COVID-19 havoc thanks to second-generation entrepreneurs and strong VC interest Sorrel Downer The COVID-19 pandemic struck just as Spain s startup scene was reaching its tipping point. But the country s second unicorn was followed with more investments in new companies. They may seem the most vulnerable but their funding has surged, while older companies has faltered.
The youngest businesses should have been worst hit by COVID-19. For Spain s startups, it came just as things were taking off.
At the end of 2019, Glovo, the on-demand delivery service app, became the country s second unicorn †a startup valued at more than $US1 billion †after ride-sharing app Cabify in January 2018. It raised ⠬300 million ($US361 million) in just 12 months, of a total investment of around ⠬488 million ($US587 million). It expanded into more than 20 countries. It was just four years old.
But the country s second unicorn was followed with more investments in new companies.
They may seem the most vulnerable but their funding has surged, while older companies has faltered.
The youngest businesses should have been worst hit by COVID-19. For Spain s startups, it came just as things were taking off.
At the end of 2019, Glovo, the on-demand delivery service app, became the country s second unicorn a startup valued at more than $1 billion after ride-sharing app Cabify in January 2018. It raised €300 million ($361 million) in just 12 months, of a total investment of around €488 million ($587 million). It expanded into more than 20 countries. It was just four years old.
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