Funding round
Preply Series C
Preply, which works in online language tutoring services in Brookline, raised $70M in a Series C round announced on 19 Jul 2023, led by Horizon Capital. 4 firms took part. It is Preply's third venture round on record; the one before was a Series B in Mar 2021.
$70M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Preply did not disclose a valuation in this round. It came 28 months after Preply's Series B. It is 27% of the $256M Preply has raised in the venture rounds on record. Preply raised again 30 months later: a Series D round of $150M in Jan 2026, at $1.20B post-money.
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 9 Mar 2021, led by Owl Ventures and Full In $35M
- Other not a venture round 1 Mar 2022 $50M
- Series C this round 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
Horizon Capital led the round with 3 other firms.
Lead investor
- backs 10 venture-backed companies new investor
Also in the round
- backs 72 venture-backed companies new investor
- Hoxton Ventures backs 50 venture-backed companies new investor
- backs 71 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Language & Speaking Schools, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Language & Speaking Schools | 12 Apr 2023 | undisclosed | $100M | MDI Ventures and Heritas Capital |
| Solar Energy Company | 26 Jul 2023 | $280M | not disclosed | not named |
| SKIMS Underwear & Lingerie | 19 Jul 2023 | $270M | $4.00B | Wellington Management |
| MUSINSA Clothing Stores | 19 Jul 2023 | $190M | $2.76B | KKR |
| Chemicals | 11 Jul 2023 | $77M | not disclosed | Innovation Industries |
| Tech Companies | 27 Jul 2023 | $75M | not disclosed | Vista Credit Partners |
| Payment Processing & Point of Sale | 17 Jul 2023 | $72M | $900M | Marshall Wace |
| Dairy Products - Farms & Stores | 12 Jul 2023 | $70M | not disclosed | GroundForce Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Preply raise in its Series C round?
Preply raised $70M in its Series C round, announced in Jul 2023.
Who led Preply's Series C round?
Horizon Capital led it, with Reach Capital, Hoxton Ventures and Owl Ventures.
What was Preply's valuation at the Series C round?
It was not disclosed.
Did Preply raise again after this round?
Yes: a Series D round in Jan 2026 of $150M at $1.20B post-money.