Speak, a San Francisco, CA-based artificial intelligence (AI)-powered English language learning platform, secured $16 million in funding, bringing its total raised to $63 million.
SaaS Investors
The round was led by angel investor Lachy Groom, with participation from co-founders of Dropbox, Drew Houston and Arash Ferdowsi.
Lachy Groom is the previous Head of Stripe Issuing and is an angel investor based in San Francisco, California.
Use of Funds
The funding will be used to support Speak's expansion into more markets, including a planned launch in the United States by the end of the year.
About Speak
Founded in 2016 by Connor Zwick and Andrew Hsu, Speak is an AI language startup that offers an app for Android and iOS users to practice conversational English through interactive speaking experiences. The app uses an "AI tutor" to facilitate open-ended conversations on various topics and provide feedback on pronunciation, grammar, and vocabulary. Speak has already established a presence in more than 20 countries. Currently, Speak is available in approximately 20 countries, including Japan, Taiwan, Germany, France, Brazil, and Mexico.
Funding Details
Company: Speakeasy Labs, Inc.
Raised: $16.0M
Round: Series B2
Funding Month: August 2023
Lead Investors: Lachy Groom
Additional Investors: Drew Houston, and Arash Ferdowsi
Company Website: https://www.speak.com/
Software Category: AI-powered English Language Learning platform
Source: https://techcrunch.com/2023/08/31/openai-backed-language-learning-app-speak-raises-16m-to-expand-to-the-u-s/