In a sign of the growing demand for engaging and effective digital language education tools, the AI-powered language learning platform “Speak” has raised $20 million in a Series B funding extension. This new investment round was led by Buckley Ventures, with participation from investors including the OpenAI Startup Fund and Khosla Ventures. With the fresh capital injection, Speak has now raised a total of $84 million and seen its valuation double to half a billion dollars.
Founded in 2014 by CEO Connor Zwick and Andrew Hsu, Speak has found great success by focusing on spoken pronunciation and repetition over rote memorization of grammar and vocabulary. The app utilizes speech recognition technology to provide real-time feedback on a learner’s tone and pronunciation as they practice lesson dialogs. This emphasis on oral practice has resonated strongly with users – Speak’s user base has grown exponentially, reaching over 10 million users across more than 40 countries since launching initially in South Korea five years ago.
Speak generates revenue through monthly and annual subscriptions priced at $20 and $99 respectively. Subscribers gain access to all of the platform’s features such as review lessons, tests and single-session courses. The company plans to invest further in developing advanced AI models that can offer even more nuanced spoken evaluation. With a team of 75 employees located across several global offices, Speak aims to continue expanding its language catalog and sustaining its impressive growth trajectory. This latest round of funding will power Speak’s mission to make engaging, AI-powered foreign language learning accessible to learners worldwide.