ELSA, the company behind English tutor app ELSA Speak, has raised $23 million in a Series C round led by UOB Venture Management.
UniPresident, and Asia Growth Investment Fund, which is a joint business of Aozora Bank and Development Bank of Japan (DBJ) also joined the round.
Additional participants include previous investors Gradient Ventures, Google’s AI-focused venture fund; Monk’s Hill Ventures; Globant Ventures; and Vietnam Investments Group (VIG).
Coinciding with the fundraise, ELSA has launched its AI Tutor. The new offering is designed to teach English by replicating natural conversations through Generative Voice AI technology.
The company said that the new financing will allow it to expand its AI app into international markets like Taiwan, Korea and the Middle East. Additionally, ELSA also plans on using the funds to foster partnerships with corporations and schools in countries like Japan where individuals are seeking to improve their English language proficiency.
ELSA said that its new AI Tutor offers roleplay scenarios for learners to listen and reply. Furthermore, the app’s speech recognition technology can provide in-depth and accurate English fluency analysis and feedback to ensure progress.
“Speaking English is rated the most valued skill on the job market,” Dr. Xavier Anguera, co-founder of ELSA and respected speech technologist, said in a statement. “Listening and speaking out loud is essential to fluency and pronunciation.”
Founded by Vu Van, CEO and co-founder of ELSA Speak, and Anguera, ELSA launched in 2015. In 2021, the company received $15 million in Series B funding.
How ELSA AI works
The ELSA AI Tutor is powered by AI-driven, proprietary speech recognition technology. It is trained on English audio data from 34 million learners worldwide.
The company claims to have amassed over 50 million downloads of its app. It has also accumulated a substantial repository of 200 million hours of anonymous English audio data, over the course of seven years.
This vast global dataset enables ELSA to scale its platform and customized lesson plans designed to suit the distinctive needs of individual learners.
After each role-play scenario, users receive personalized feedback on their English language skills, including assessments of pronunciation, vocabulary, grammar, intonation, rhythm, and more.
Subsequently, this feedback is stored within the user’s ELSA profile, allowing the AI tutor to reference prior errors and tailor future lessons accordingly.
Starting today, ELSA is offering a free option for users to explore a limited number of scenarios. Alternatively, users can opt for the Premium plan to access unlimited scenarios and feedback.
The new ELSA AI Tutor feature is officially available in the ELSA Speak App and will automatically update for all current users.
AI language tutor apps have been garnering significant investor interest in recent months. In August, OpenAI-backed language tutor app, Speak, raised $16 million in a Series B round.
While ELSA is focused on English language learning, Speak intends to enable English speakers to learn other languages after its United States launch in the near future.
Source: mPost
