Preply, a Ukrainian language learning startup, has received $70 million in investment to develop AI technology. The company is already creating an AI-based assistant that will help improve and simplify the learning process.
The service is currently used by hundreds of thousands of people from 180 countries. And more than 35,000 tutors teach more than 50 languages.
Preply and AI
Preply is an online tutoring platform founded in Ukraine in 2012. The company has more than 500 employees, of which about 100 are based in Ukraine. Preply offers a wide range of languages, including English, French, German, Spanish, and Chinese. The company also offers many features such as video calling, chat, and screen sharing.
In 2023, Preply raised $70 million in investment from Horizon Capital, Reach Capital, and Hoxton Ventures. The funds will be used to develop artificial intelligence (AI) assistants for language learning. AI assistants will help learners learn languages faster and more efficiently by offering personalized exercises and video tutorials.
Preply CEO Kirill Bigai told Forbes that the company intends to become “a leader in the global online tutoring market.” Preply is already one of the largest language learning platforms in the world, and with the new investment, the company is well positioned to achieve its goal.
However, the company is not trying to build its own AI.
“THERE ARE GREAT MODELS FROM OPENAI, ANTHROPIC, FACEBOOK, GOOGLE, ETC. WE WILL USE THEIR INFRASTRUCTURE AND FINE-TUNE THE MODELS IN SOME PLACES,” SAYS BIGAI.
The company’s prospects
Here are some of the key points from the interview:
- Preply has shown very good growth in recent years, despite the war in Ukraine.
- The startup plans to use artificial intelligence to improve its services and provide students with a more personalized experience.
- The company intends to become “a leader in the global online tutoring market.”
Preply is a leading language learning platform that is well positioned to continue growing in the future. The company has a strong team, a well-designed product, and ambitious plans for the future.
