By KYIV. July 20 (Interfax-Ukraine) – Horizon Capital, a U.S. private equity firm that invests primarily in high-growth technology and export-oriented companies in Ukraine, has announced investment in the Ukrainian company Preply, a leading global language learning platform, as part of its next $70 million funding round.
“Horizon Capital, a U.S. private equity firm investing primarily in fast-growing tech and export oriented companies in Ukraine, announced an investment into Ukrainian-founded Preply, a leading global online language learning platform. This transaction marks the first investment from Horizon Capital’s latest fund, Horizon Capital Growth Fund IV (HCGF IV), which reached $254 million at its Interim Closing on April 28, 2023,” the company said on its website.
“Horizon Capital led Preply’s $70 million capital raise, also backed by Reach Capital, Hoxton Ventures, and other existing investors. The new investor bench will provide a valuable balance of growth stage experience and Edtech expertise to help power the next leg of Preply’s journey,” the company said.
“Ukrainian-founded Preply reached a milestone in the company’s funding history, raising an additional $70 million in equity and debt capital to take its Series C to $120 million,” Preply said.
“Founded in the United States in 2012 by three Ukrainian founders Kirill Bigai, Serge Lukyanov, and Dmytro Voloshyn, Preply has grown from a team of three to a company of almost 500 employees of 60 different nationalities. With offices in Barcelona, New York, and Kyiv, employees work across 30 countries in Europe, USA, Africa, Asia and Latin America,” the report says.
“Preply revenues have grown tenfold over the last three years, largely due to significant improvements in the product experience for both tutors and learners. The B2B business has also accelerated, with over 200 new deals signed in the past year,” the report says.
“Preply fits perfectly into our investment thesis of backing Ukraine’s new generation of visionary entrepreneurs, while paving the way for others inspired to create their own global champion powered from Ukraine that the entire nation can take pride in,” Lenna Koszarny, Horizon Capital’s Founding Partner and CEO, said.
