Language lesson marketplace Preply closed $10 million just before COVID-19 hit and is now seeing a 50% spike in business
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Preply CEO Kirill Bigai said demand had spiked in countries experiencing longer lockdowns, with bookings in Italy tripling since February.European language learning platform Preply has raised $10 million in funding, and says demand for lessons has doubled as more countries move towards long lockdown periods.
The timing of its funding is fortunate. The startup, which is rooted in Ukraine and has offices in Kyiv and Barcelona, closed its funding round in January, just before the COVID-19 crisis hit and decimated startup valuations and funding. Preply said it had seen the hours of tutoring purchased double between mid-February and mid-March, and almost triple in Italy, which has been locked down since the beginning of March. Its site traffic has surged globally by 50%, and the number of tutors are up 80%."We see big demand in the countries whose lockdowns were longer, in Italy, we're seeing a tripling of weekly demand," Bigai said.
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