Speak, a San Francisco, CA-based AI-powered language learning app, raised $20 million in a Series B extension, bringing its total funding to $84 million, at a $500 million valuation.
Investors
The round was led by Buckley Ventures, with participation from the OpenAI Startup Fund, Khosla Ventures, Y Combinator co-founder Paul Graham, and LinkedIn executive chairman Jeff Weiner.
Founded in 2020, Buckley Ventures is a venture capital investment firm based in San Francisco, California. The firm focuses on venture capital investments in technology companies in a diverse range of industries across the US.
Speak Use of Funds
Founded in 2014 by Connor Zwick and Andrew Hsu, Speak is an AI-powered language learning app that provides instant feedback to help users improve their language skills. It leverages AI and voice recognition technology to teach English, moving away from traditional vocabulary and grammar memorization. It initially offered lessons in English and has expanded to include Spanish, with plans to introduce French lessons in the future. Currently, Speak is used by over 10 million people in more than 40 countries.
Funding Details
Company: Speak Labs, Inc.
Raised: $20.0M
Round: Series B
Funding Month: June 2024
Lead Investors: Buckley Ventures
Additional Investors: OpenAI Startup Fund, Khosla Ventures, Paul Graham, Jeff Weiner
Company Website: https://www.speak.com/
Software Category: Language Learning
Source: https://techcrunch.com/2024/06/20/language-learning-app-speak-nets-20m-doubles-valuation/