Speak, a startup focused on AI-driven language learning, has announced a significant milestone with the successful completion of a Series C funding round, securing $78 million. This funding boosts Speak’s valuation to $1 billion and is led by Accel, with participation from previous backers OpenAI (via its Startup Fund), Khosla Ventures, and Y Combinator.
This latest funding marks a substantial leap for Speak, following a Series B extension of $20 million at a $500 million valuation just six months prior. The enthusiasm around generative AI, particularly in light of OpenAI’s involvement, has fueled interest in Speak’s innovative approach to language learning.
Speak’s platform employs AI to simulate the way native speakers learn languages—primarily through listening and speaking. By generating audio conversations and responding to users’ answers, Speak aims to enhance language acquisition in a more natural and intuitive manner.
“Our 2022 investment in Speak was driven by a shared vision of revolutionizing language learning with AI,” said Ian Hathaway, a partner at OpenAI’s Startup Fund. “We’re thrilled to see their world-class AI talent and unique product vision create transformative learning experiences for a rapidly growing user base worldwide.”
The primary goal of the new funding is to expand the number of target languages available on the platform, starting with Spanish and French. Until now, Speak has primarily focused on helping users learn English, the world’s most popular language for study, providing tailored materials for those studying from various languages.
CEO Connor Zwick, who co-founded Speak with Andrew Hsu, emphasized the company’s value proposition: “For the one and a half billion people out there trying to learn English, the vast majority of them have spent 15+ years learning intensely. They know vocabulary and grammar better than any of us. But the issue is that they have no ability to speak it.” Speak aims to bridge that gap by teaching users how to communicate effectively in the language.
Currently, Speak’s app has been downloaded over 10 million times, with users averaging 10-20 minutes of daily usage. The subscription model costs $20 per month or $99 per year, significantly less than hiring a human tutor.
Speak operates on a three-step learning process:
1. Listening and Speaking: Users engage in conversation without exhaustive grammar explanations.
2. Repetitive Practice: Users practice terms and phrases through drills to achieve fluency.
3. Real-World Context: The platform contextualizes phrases using AI, helping users internalize their learning.
Interestingly, while the goal is to facilitate speaking with humans, Speak relies solely on AI technologies such as speech recognition and natural language processing to customize the learning experience.
Zwick clarified that Speak does not aim to serve as a test preparation solution, noting the shortcomings of existing assessments in accurately measuring language proficiency. However, Hsu hinted that the company may explore developing a robust assessment system in the future to evaluate fluency more accurately.
While Speak has not yet integrated gamification into its platform, Zwick indicated that with additional resources from the funding, there may be opportunities to incorporate behavioral mechanisms that enhance user engagement without compromising the effectiveness of the learning experience.
Ben Quazzo, a partner at Accel who led the investment round, will be joining Speak’s board of directors, praising the startup as a standout player in consumer AI with exceptional growth and market potential.
News Source:techcrunch，This article does not represent our position.
