Speak, the startup behind its eponymous AI language tutor app, has secured $16 million in a Series B-2 round.
The round was led by angel investor Lachy Groom, with participation from existing investors including the OpenAI Startup Fund. New strategic investors such as the founders of Dropbox, Drew Houston, and Arash Ferdowsi also joined the round.
Speak said that it will use the fresh funding to expand internationally and grow its team to support availability in newer markets.
This new round of funding follows Speak’s Series B raise of $27 million last November. The company has raised a total of $63 million so far.
Commenting on his investment, Lachy Groom said: “Education will continue to be a sector most profoundly transformed by AI. The most effective approach to learning is through one-on-one human tutoring. There are far fewer teachers than learners, meaning this type of solution isn’t cheap and doesn’t scale.”
Groom added that Speak’s AI-powered tutor gives learners around the world access to conversational practice without paying a premium for a live tutor on the other end.
Speak claims that its language tutor app its language tutor application is capable of engaging in open-ended conversations with learners about numerous subjects, offering real-time feedback on pronunciation, grammar, vocabulary, and other aspects.
This is made possible by leveraging OpenAI’s technologies with Speak’s proprietary language learning systems, structure, and pedagogical approach.
Founded in 2016 by Connor Zwick and Andrew Hsu, San Francisco-based Speak was exclusively focused on South Korea due to the country’s mature and demanding market for English language products.
“It’s been incredible to see that the learning experience we spent years honing in a single market, South Korea, has proven to resonate with almost no modifications needed in markets and cultures across the globe,” CEO Connor Zwick said in a statement.
This year, Speak launched in more than 20 countries including Japan, Taiwan, Germany, France, Brazil, Mexico, and more.
Currently, Speak is preparing to launch in the United States, giving English speakers the ability to learn other languages through the app.
Source: mPost
