Tutoring marketplace Preply sold some equity for USD 4mln in November this year. The company representatives do not disclose details of the deal. It has only become known that the deal is not a part of a full-ledged M&A or an exchange of equity.
Last year, the service attracted USD 1.3mln from a number of investors. The leading investor was the Polish venture capital fund of Hedgehog Fund together with three angel investors, namely Artur Kosten a co-founder and marketing director of Booking.com, Mariusz Gralewski the CEO and co-founder of Docplanner, and Przemyslaw Gacek the CEO of Grupa Pracuj. The other participants were also RTAVentures VC and Xevin Investments from Poland, Ukrainian Digital Future and SMRK, as well as the TechStars incubator took part in the round.
Preply started as a search platform for tutors in 2013. Prior to this, Preply was an auction of Skype tutors for SAT / ACT tests and participated in the EastLabs program. At that time, the service managed to attract USD 150K from several angel investors, including Semen Dukach.
In 2015, Preply participated in the famous TechStars incubator. As a result, the startup spent 3 months in the European division of the American TechStars in Berlin.
