Estonian Siena invests in Ukrainian Preply platform

The Estonian Siena Secondary Fund participated in the $150M Series D investment round of the Preply language learning platform. The round was led by WestCap with the support of Indico Capital Partners, the European Bank for Reconstruction and Development (EBRD) and Reach Capital.

As a result of the financing, the company's value was estimated at $1.2B, and Preply became a unicorn.

Preply is a company founded in 2012 by Ukrainians Kirill Bigai, Serhii Lukianov, and Dmytro Voloshyn. The company presents an online language learning platform that connects students with more than 100,000 teachers teaching more than 90 languages worldwide.

Founded in 2021 in Tallinn, Siena Secondary Fund provides liquidity for early investors, founders, and employees of growth startups. The founding partners of the fund are Rain Tamm and Lauri Isotamm. The general partner is Rando Rannus.

WestCap is an investment company founded in the USA in 1997. WestCap invests in companies that use technology, with a focus on the following sectors: fintech, experience tech, real estate tech, health tech, infrastructure tech.

Indico Capital Partners is a venture capital firm founded in 2017 and headquartered in Lisbon, Portugal. The company invests in global technology companies, focusing on sectors such as software as a service (SaaS), artificial intelligence, blockchain, Internet of Things, fintech, cybersecurity, and digital companies.

Reach Capital is a venture capital firm founded in 2015 and based in San Francisco, USA. Reach Capital's goal is to invest in early—stage companies that transform the fields of education, health, and work.