Funding round
Preply Series B
Preply, which works in online language tutoring services in Brookline, raised $35M in a Series B round announced on 9 Mar 2021, led by Owl Ventures and Full In. 8 firms took part. It is Preply's second venture round on record; the one before was a Seed in Jun 2016.
$35M
Amount raised
Not disclosed
Post-money valuation
8
Investors
2 leads
Valuation
What this round says about the price
Preply did not disclose a valuation in this round. It came 57 months after Preply's Seed. It is 14% of the $256M Preply has raised in the venture rounds on record. Preply raised again 28 months later: a Series C round of $70M in Jul 2023. 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 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 this round 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
Owl Ventures and Full In led the round with 6 other firms.
Lead investors
- backs 71 venture-backed companies new investor
- backs 7 venture-backed companies new investor
Also in the round
- backs 105 venture-backed companies new investor
- Hoxton Ventures backs 50 venture-backed companies new investor
- backs 17 venture-backed companies new investor
- All Iron new investor
- new investor
- backs 12 venture-backed companies new investor
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, other companies' Series B rounds in Language & Speaking Schools:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Language & Speaking Schools | 1 Aug 2021 | $35M | not disclosed | Owl Ventures and Goodwater Capital |
| Language & Speaking Schools | 20 Oct 2020 | undisclosed | $250M | Benchmark |
| Language & Speaking Schools | 9 Dec 2021 | $10M | not disclosed | MDI Ventures and Heritas Capital |
| Language & Speaking Schools | 9 Mar 2022 | $9.0M | not disclosed | Eagle Venture Fund and Mustang Creek Capital |
Sources
Where this comes from
Reported by 3 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 Series B round?
Preply raised $35M in its Series B round, announced in Mar 2021.
Who led Preply's Series B round?
Owl Ventures and Full In led it, with Point Nine, Hoxton Ventures, Educapital, All Iron and Diligent Capital Partners and 1 more.
What was Preply's valuation at the Series B round?
It was not disclosed.
Did Preply raise again after this round?
Yes: a Series C round in Jul 2023 of $70M.