Language tutor application 'Speak' has procured $16 million through its Series B funding round with the support of OpenAI.
In Brief
The AI-based language tutor app, Speak, has successfully completed a funding round, raising $16 million in Series B-2 financing.
Alongside the OpenAI Startup Fund, notable investors like Dropbox, Drew Houston, and Arash Ferdowsi took part in this round of funding.
The new capital will enable Speak to extend its reach into global markets.
Speak In the recent funding round, the startup, which developed the AI language tutor application Speak, raised a total of $16 million in Series B-2.
Leading this investment round was angel investor Lachy Groom, with contributions from existing backers including the OpenAI Startup Fund, along with new strategic investors like Dropbox founders Drew Houston and Arash Ferdowsi.
Speak indicated that this new funding will facilitate its expansion into international markets and aid in scaling its team for broader availability.
This round of funding comes on the heels of a previous successful raise of $27 million last November, bringing the total raised by the company to $63 million. Series B raise Commenting on his investment, Lachy Groom remarked, 'Education is a field that will be significantly altered by AI. The most effective learning is often through one-on-one tutoring. There's a disparity between the number of teachers and learners, making this solution both costly and difficult to scale.'
Groom further noted that Speak's AI-driven tutoring solution provides learners globally with access to conversational practice without the high cost of hiring a live tutor.
According to Speak, their language tutor application engages students in open-ended dialogues on various topics, giving instant feedback on critical areas like pronunciation, grammar, vocabulary, and more.
This capability is achieved through the integration of OpenAI technologies with Speak’s unique language learning methodologies and pedagogical frameworks.
Founded in 2016 by Connor Zwick and Andrew Hsu, Speak, based in San Francisco, initially targeted South Korea, recognizing the demand for robust English language solutions in that market.
CEO Connor Zwick shared, 'It's remarkable to witness how our finely-tuned learning experience has easily translated into diverse international markets, needing minimal adjustments from its original design centered on South Korea.'
This year, Speak has made inroads into over 20 different countries, including Japan, Taiwan, Germany, France, Brazil, and Mexico, among others.
Currently, Speak is gearing up for its launch in the United States, aimed at enabling English speakers to explore learning other languages via the app.
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In line with the Trust Project guidelines Cindy, a journalist with Metaverse Post, specializes in web3, NFTs, the metaverse, and AI, with a focus on interviewing key figures in the Web3 sector. She has conducted interviews with over 30 C-level executives, sharing their insights with her audience. Originally hailing from Singapore, Cindy is now based in Tbilisi, Georgia, holding a Bachelor's degree in Communications & Media Studies from the University of South Australia and boasting a decade-long career in journalism and writing.