AI-powered language learning app, Speak, has secured $20 million in a Series B extension, doubling its valuation to $500 million. This round, led by Buckley Ventures and supported by the OpenAI Startup Fund, Khosla Ventures, Y Combinator co-founder Paul Graham, and LinkedIn executive chairman Jeff Weiner, reflects the company’s rapid growth and investor confidence.
Since its inception in 2014 by Connor Zwick and Andrew Hsu, Speak has revolutionized language learning by emphasizing speaking over memorization. The app’s unique approach, which utilizes AI to provide real-time feedback on pronunciation and tone, has resonated globally, boasting over 10 million users across 40 countries.
“Our core philosophy is centered around getting users to speak out loud as much as possible,” said CEO and co-founder Connor Zwick. “Attaining fluency helps people form connections, connect cultures, and create economic opportunity. It remains the most important part of language learning, yet historically, the least supported through technology.”
Speak’s latest funding round brings its total raised to $84 million, enabling further expansion into new markets and the development of advanced AI features. The company plans to launch French lessons next, adding to its existing English and Spanish offerings. Moreover, Speak is focused on enhancing its real-time feedback mechanisms, which are powered by a speech recognition model trained on proprietary data.
This success is attributed to Speak’s innovative use of AI, including integrating OpenAI’s GPT-4 and Whisper API, enhancing personalized feedback and multilingual speech recognition. Such advancements have made Speak a top-downloaded education app in South Korea and a prominent player in the global EdTech landscape.
“We are excited to partner with Speak, who are well-positioned to deliver on this powerful application of generative AI,” said Brad Lightcap, COO of OpenAI. “Speak has the potential to revolutionize not just language learning, but education broadly.”
Speak’s ability to scale without significant modifications across different cultures has been a testament to its robust platform. The company operates with a 75-person workforce across San Francisco, Seoul, Tokyo, and Ljubljana, continuously innovating to meet the needs of a diverse global audience.
“Education will continue to be a sector most profoundly transformed by AI,” remarked Lachy Groom, an angel investor. “Speak’s mission and approach to create a human-level, AI-powered tutor gives learners around the world access to conversational practice without paying a premium for a live tutor.”
With its latest funding, Speak is poised to expand its reach and impact further, reinforcing its position as a leader in AI-powered language education. Source: Techcrunch
