DCP INVESTS IN PREPLY ALONGSIDE REPUTABLE WESTERN EUROPEAN INVESTMENT FUNDS AND ANGELS
Diligent Capital Partners has invested in Preply, a Ukraine-born private educational tutoring platform, as a part of $10 million Series A round.
The investment consortium was led by London-based venture capital firm Hoxton Ventures with participation from a variety of investors from Western Europe: Point Nine Capital (Germany), Educapital (France), The Family (France), All Iron Ventures (Spain). Prominent business angels also jumped in, including David Helgason (Unity Technologies), Danielle Hoffer (Couchsurfing), Arthur Kosten (Booking.com) and Gary Swart (Upwork).
The funding will help the company strengthen its position in North America, France, Germany, Spain, Italy, and the UK. Besides, Preply will open a branch in the United States, a strategically important region for the project. Currently, Preply has offices in Kyiv and Barcelona.
NOTES: a global market leader among marketplaces for online languages learning, Preply connects those learning a foreign language to online tutors, using machine learning to achieve the best match. Twenty-four languages are covered from English (more than 18,376 tutors), to Chinese (2,131 teachers), Arabic (981 teachers), Korean, Hebrew and even Urdu (373, 74 and 102, respectively, as of March 2021).
Diligent Capital Partners is a private equity fund manager with a focus on export-orientated business, agribusiness, and technology.