With the rise in digital landscape, companies operating in the language arena are coming up with digitally innovative ideas in order to cater to user demands and further developing a robust interactive learning platform.
On the other hand, while work becomes highly global and more people have found themselves dwelling in different part of countries and living in a different culture driven by choice or necessity, online learning language apps have gained a tremendous importance.
Preply is a fast emerging company in the online language learning market. It was established in 2011 in Boston area, but today the company made its base in Ukraine.
In the initial stages, it had a slow growth, however, recently it has gained a higher momentum. With the seed funding of $5 million USD last year and another funding of $4 million USD this June, it announced expansion of team and platform in the higher stages of seed round.
Company sources have shared that the company is committed to create a flexible and compatible learning environment by connecting students with tutors all around the globe. Preply is committed towards mobile-based learning, which is much cost-effective than the conventional schools and is much secure and flexible.
The company is working on machine learning algorithm configured to increase compatibility between tutors and learners from native languages to time zones to learning goals. Unlike Duolingo, the primary objective is to provide an online space to the the best tutors and offer them monetary benefits as well as flexible schedule.
At present, the company has 100,000 registered users. It is still in the beginning phase but with the availability of funding, it is proactively working towards expansion of presence in American, British, German and Latin American markets. Dealing with scalability issues, the company has plans to establish a base in Barcelona, which will act as an important hub for the company.