Funding round
Preply Seed
Preply, which works in online language tutoring services in Brookline, raised $1.3M in a Seed round announced on 7 Jun 2016, led by He Dgehog Fund. 7 firms took part. It is Preply's first venture round on record.
$1.3M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Preply did not disclose a valuation in this round. It is Preply's first venture round on record, 4 years after it was founded in 2012. It is under 1% of the $256M Preply has raised in the venture rounds on record. Preply raised again 57 months later: a Series B round of $35M in Mar 2021. Its next priced round, a Series D in Jan 2026, valued it at $1.20B.
Preply's funding rounds
Preply has 4 venture rounds on record and 2 other deals. This one is highlighted.
- Seed this round 7 Jun 2016, led by He Dgehog Fund $1.3M
- Other not a venture round 30 Mar 2020, led by Hoxton Ventures $10M
- Series B 9 Mar 2021, led by Owl Ventures and Full In $35M
- Other not a venture round 1 Mar 2022 $50M
- Series C 19 Jul 2023, led by Horizon Capital $70M
- Series D 21 Jan 2026, led by WestCap and Westcap $150M$1.20B post-money
Investors
Who put money in
He Dgehog Fund led the round with 6 other firms.
Lead investor
- new investor
Also in the round
- backs 10 venture-backed companies new investor
- RTAVentures VC new investor
- backs 2 venture-backed companies new investor
- SMRK new investor
- backs 388 venture-backed companies new investor
- Arthur Kosten
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Seed rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Water Supply & Water Treatment | 21 Jun 2016 | $100M | not disclosed | EIV Capital |
| Payment Processing & Point of Sale | 21 Jun 2016 | $7.9M | not disclosed | not named |
| HiBob Tech Companies | 1 Jun 2016 | $7.5M | not disclosed | Bessemer Venture Partners |
| Radiology Clinic | 21 Jun 2016 | $5.0M | not disclosed | not named |
| Metal Fabrication Services | 1 Jun 2016 | $3.4M | not disclosed | True Ventures |
| Tech Companies | 22 Jun 2016 | $2.9M | not disclosed | Resolute Ventures |
| Flock Freight Trucking and Logistics | 24 Jun 2016 | $2.5M | not disclosed | SignalFire |
| Tech Companies | 6 Jun 2016 | $2.5M | not disclosed | Mosley Ventures and Birchmere Ventures |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Preply raise in its Seed round?
Preply raised $1.3M in its Seed round, announced in Jun 2016.
Who led Preply's Seed round?
He Dgehog Fund led it, with Digital Future, RTAVentures VC, Xevin Investments, SMRK and Techstars and 1 more.
What was Preply's valuation at the Seed round?
It was not disclosed.
Did Preply raise again after this round?
Yes: a Series B round in Mar 2021 of $35M.