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OpenAI-backed Speak closes $78M at $1B valuation for AI-powered language tutor

Speak team
Picture credits: Speak

Speak, a San Francisco-based language-learning startup, has closed $78 million in Series C funding. The round was led by Accel, with participation from OpenAI’s Startup Fund, Khosla Ventures (which backed Genie AI andDevRev), and Y Combinator. With this round, Speak has attained unicorn status with its valuation reaching $1 billion. The latest funding round marks the company’s second raise this year, doubling its valuation in just six months.

Worldwide growth

The funding will fuel Speak’s ambitious plans to expand across Southeast Asia, Europe, and the US while adding more languages, such as Spanish and French, to its platform by the end of next year.

Already, Speak is successful in South Korea and has expanded its reach to new markets, including Japan, Taiwan, and Europe. It was recently launched in Mandarin-speaking regions and introduced Spanish courses to cater to learners globally.

What challenge does it tackle?

Mastering a new language is often a daunting task. For 1.5 billion people learning English worldwide, the challenge goes beyond memorising grammar and vocabulary. The actual task is speaking confidently. Traditional methods, including classes, tutors, or gamified apps, have tried to bridge this gap, but none could be successful.

This is where Speak comes to the rescue of new language learners. The language-learning company uses AI to replicate the natural way people learn languages through speaking.

AI-powered language tutor

Founded in 2016 by Andrew Hsu and Connor Zwick, Speak’s AI-powered virtual tutor, Speak Tutor, delivers personalised lessons tailored to each learner’s pace, goals, and unique style.

Learners using the platform practice hundreds of sentences weekly, gaining fluency through repetition and real-time feedback. Features such as the AI-powered Live Roleplays enable learners to engage in immersive, life-like conversations, simulating real-world scenarios and providing nuanced corrections on tone, pronunciation, and grammar.

With the integration of OpenAI’s Realtime API, Speak has set a new standard for conversational AI, offering users real-time feedback that rivals human interaction.

This approach has helped over 10 million learners in 40+ countries achieve measurable progress in speaking English and other languages.

Initiative for businesses

Recognising the importance of English fluency in the workplace, the company launched “Speak for Business,” an enterprise solution designed to support organisations in enhancing their teams’ communication skills. Speak’s premium subscription model, priced at $20 per month or $99 per year.

This initiative has over 200 clients and an 85% employee adoption rate. It addresses the universal need for English proficiency across industries.

What’s ahead for Speak?

The company continues to focus on its mission to build the world’s most advanced AI language tutor and make spoken fluency accessible to millions. With plans to introduce more languages and further refine its AI capabilities, Speak is poised to redefine language learning worldwide.

“This dedication to technological excellence has not gone unnoticed. “Speak has redefined language learning with a focus on speaking fluency, combining advanced AI with personalised learning,” said Ian Hathaway, partner at the OpenAI Startup Fund. “Their rapid growth and innovation make them a category-defining company in AI education.”

“Our mission has always been to make language learning engaging, effective, and accessible,” said Connor Zwick, CEO of Speak. “We are energised by the opportunity to help learners worldwide speak confidently, one conversation at a time.”

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