Preply, a language learning platform connecting people with tutors, raised $70 million of fresh capital to ramp up its use of artificial intelligence, the company told CNBC exclusively.
The firm, founded in Ukraine but based in the U.S., said it bagged the funds by issuing new equity and debt. Preply’s founders include Ukrainian entrepreneurs Kirill Bigai, Dmytro Voloshyn, and Serge Lukianov.
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The equity portion was led by Horizon Capital, a venture capital firm focused on investing in emerging entrepreneurs, particularly Ukrainians. It was also backed by Reach Capital, Hoxton Ventures and others.
The funding adds to a $50 million Series C funding round Preply raised last year, and takes its total funding raised to over $170 million.
Preply is a marketplace platform that connects people with human tutors to help them learn new languages. Each teacher on Preply shares a profile that tutees can view, and sets an hourly rate for lessons. Preply gets a cut of the hourly rates tutors charge.
Preply also sells to large enterprises such as Datadog, GroupM and Bain, which use it to improve their teams’ foreign language skills. The company is not yet profitable, although revenues grew tenfold in the last three years.
Kirill Bigai, Preply’s co-founder and CEO, said the company would use the funds to “extend our leadership in the [online language learning] category through AI-powered human tutors, providing a learning experience which is quickly becoming a game changer.”
“Though the team today is truly global, as a Ukrainian founded company with significant R&D in Ukraine, this is a milestone to be celebrated. One that echoes the resilience and determination of the Ukrainian tech sector and all Ukrainians,” he added.
The funding comes at a time of tighter fundraising conditions for startups, which are struggling to raise money quite as easily as they did in the 2020 and 2021 boom years of technology triggered by Covid-19 lockdowns and monetary easing.
AI has been a notable exception to that rule, thanks to the popularity of OpenAI’s ChatGPT and tools like it. Many startups are raising seismic sums of cash as venture capitalists try to find the companies that will win from the upswell of demand for AI tools.
Preply said it already uses machine learning to better match learners and tutors. Now, it’s incorporating more AI into its offering, having launched an AI assistant to help tutors come up with exercises, grammar explanations, and conversations starters.
It comes as Duolingo, a competitor to Preply, has been incorporating OpenAI’s GPT language processing software to enhance its app’s personalization to users. Shares of Duolingo have more than doubled in price so far this year. Other rivals to Preply include Babbel and Busuu.
It also highlights ongoing interest from tech investors in Ukraine, which has been battered by Russia since Moscow began an invasion of the country early last year. Horizon Capital raised $125 million for a startup fund aimed at backing Ukrainian founders.
Several founders of billion-dollar “unicorns” come from Ukraine, including Grammarly’s Max Lytvyn and Alex Shevchenko, and GitLab’s Dmitriy Zaporozhets. Google, Samsung and Amazon also have research and development centers in the country.
Chris Martin of Coldplay performs at the O2 Shepherd’s Bush Empire on October 12, 2021 in London, England.
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Astronomer, the technology company that faced backlash after its CEO was allegedly caught in an affair at a Coldplay concert, said the CEO has resigned, the company announced Saturday.
“Andy Byron has tendered his resignation, and the Board of Directors has accepted,” the company said in a statement. “The Board will begin a search for our next Chief Executive as Cofounder and Chief Product Officer Pete DeJoy continues to serve as interim CEO.”
Byron was shown on a big screen at a Coldplay concert on Wednesday with his arms around the company’s chief people officer, Kristin Cabot. Byron, who is married with children, immediately hid when the couple was shown on screen. Lead singer Chris Martin said, “Either they’re having an affair or they’re just very shy.” A concert attendee’s video of the affair went viral.
In May, Astronomer announced a $93 million investment round led by Bain Ventures and other investors, including Salesforce Ventures.
Byron’s resignation comes after Astronomer said Friday that it had launched a “formal investigation” into the matter, and the CEO was placed on administrative leave.
“Before this week, we were known as a pioneer in the DataOps space, helping data teams power everything from modern analytics to production AI,” the company said in its Saturday statement. “Our leaders are expected to set the standard in both conduct and accountability, and recently, that standard was not met.”
Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025.
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Nvidia CEO Jensen Huang sold 75,000 shares on Friday, valued at about $12.94 million, according to a filing with the U.S. Securities and Exchange Commission.
Friday’s sale is part of a plan adopted in March for Huang to sell up to 6 million shares of the leading artificial intelligence company. Earlier this week, Huang sold 225,000 shares of the chipmaker, totaling about $37 million, according to a separate SEC filing. The CEO began trading stock per the plan last month.
Surging demand for AI and the graphics processing units that power large language models has significantly boosted Huang’s net worth and pushed Nvidia’s market capitalization beyond $4 trillion, making it the world’s most valuable company.
Nvidia announced this week that it expects to resume sales of its H20 chips to China soon, following signals from the Trump administration that it would approve export licenses. Earlier this year, U.S. officials had stated that Nvidia would require special permission to ship the chips, which are specifically designed for the Chinese market.
“The U.S. government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,” the company said in a statement on Tuesday. Huang said during a news conference on Wednesday in Beijing that he wants to sell chips more advanced than the H20 to China at some point.
Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund, holds hundred dollar bills as he speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida.
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The Peter Thiel-backed cryptocurrency exchange Bullish filed for an IPO on Friday, the latest digital asset firm to head for the public market.
The company, led by CEO Tom Farley, a veteran of the finance industry and former president of the New York Stock Exchange, said it plans to trade on the NYSE under the ticker symbol “BLSH.”
A spinout of Block.one, Bullish started with an initial investment from backers including Thiel’s Founders Fund and Thiel Capital, along with Nomura, Mike Novogratz and others. Bullish acquired crypto news site CoinDesk in 2023.
“In the first quarter of 2025, Bullish exchange executed over $2.5 billion in average daily volume, ranking in the top five exchanges by spot volume for Bitcoin and Ether,” the company said on its website. The prospectus listed top competitors as Binance, Coinbase and Kraken.
The IPO filing says that as of March 31, the total trading volume since launch has exceeded $1.25 trillion.
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The filing is another significant step for the cryptocurrency industry, which has fought for years to convince institutions to embrace digital assets as legitimate investments.
It’s already been a big year on the market for crypto offerings, highlighted by stablecoin issuer Circle, which has jumped more than sevenfold since its IPO in June. Etoro, an online trading platform that includes services for crypto investors, debuted in May.
Novogratz‘s crypto firm Galaxy Digital started trading on the Nasdaq in May, moving its listing from the Toronto Stock Exchange. And in June, Gemini, the cryptocurrency exchange and custodian founded by Cameron and Tyler Winklevoss, confidentially filed for an IPO in the U.S.
Meanwhile, investors continue to flock to bitcoin. The digital currency is trading at over $117,000, up from about $94,000 at the start of the year.
President Donald Trump, on Friday, signed the GENIUS Act into law — a set of regulations that establish some initial consumer protections around stablecoins, which are tied to assets like the U.S. dollar with the intent of reducing price volatility associated with many cryptocurrencies.
In its filing with the SEC, Bullish says its mission is partly to “drive the adoption of stablecoins, digital assets, and blockchain technology.”
Crypto industry players, including Thiel, Elon Musk, and President Trump’s AI and Crypto czar David Sacks spent heavily to re-elect Trump and have pushed for legislation that legitimizes digital assets and exchanges.