AI language learning platform Speak has announced the completion of its Series B funding round, raising a total of $20 million USD (approximately NT$647 million). This brings the company’s valuation to $500 million USD (approximately NT$15.4 billion). The funding was led by Buckley Ventures, with participation from existing investors including OpenAI’s startup fund and Khosla. Notably, Jeff Weiner, former CEO of LinkedIn, and Paul Graham, co-founder of Y Combinator, also joined the round.
Speak was founded in 2016 and expanded to South Korea in 2019. The platform aims to help individuals find their most suitable learning methods without the need for rote memorization of vocabulary and grammar. To create a language learning platform that rivals real human tutors, the Speak team has developed an AI speech recognition model that analyzes the intonation of over 10 native language speakers. Currently, Speak has over 10 million users worldwide.
With a total funding of $84 million USD (approximately NT$2.7 billion), Speak plans to use the latest investment to accelerate its expansion in the global Chinese-speaking market, including Taiwan, and continue to enhance its AI speech recognition models.
Why does Speak target the English speaking needs in the Chinese-speaking market?
Redefining language learning with AI
Speak is an AI-powered language learning software that aims to redefine language learning for its users. It focuses on addressing the pain points of English speaking learning.
Similar to an on-demand English tutor, Speak allows users to practice speaking through AI language coaching. Users can repeatedly practice vocabulary and phrasing, receiving instant feedback and corrections. Speak also designs personalized learning plans and content based on the user’s level and goals.
“For the past seven years, we have been dedicated to solving users’ language learning problems, and we believe that the most advanced speech recognition models are the key technology to create a tutoring experience comparable to real human tutors,” said Connor Zwick, co-founder and CEO of Speak.
Speak will continue to strengthen its AI speech recognition models, creating a learning mode that allows users to learn fluent oral expression without the need for real conversations. The platform has already accumulated over 10 million users.
To optimize speech recognition accuracy, the team optimized the language models for users with over 10 native languages at the beginning of 2024, successfully reducing the Word Error Rate (WER) by 60%.
Speak, which has reached 10 million users, is expanding into the Taiwanese market
Since its initial launch in South Korea in 2019, Speak has attracted 10 million users from 40 countries and regions. Today, Speak announced the completion of its Series B funding, raising $20 million USD (approximately NT$647 million).
Buckley Ventures led the funding round, with participation from existing investors including OpenAI’s startup fund and Khosla. Notably, renowned angel investors Paul Graham and Jeff Weiner also participated.
Speak has announced its entry into the Chinese-speaking market and has already launched its English language courses in Taiwan. The platform aims to create localized, real human teaching content and AI conversation topics to meet the growing English learning needs of Taiwanese users.
Josh Buckley, partner at Buckley Ventures, stated, “Speak has shown its high growth momentum in the rapidly expanding global market last year.”
Looking ahead, Connor Zwick, co-founder and CEO of Speak, stated that the funding will be used for model development, including voice-to-voice interface, aiming to provide users with a conversation experience that is as smooth as talking to a real person, with real-time feedback on pronunciation and tone.
Furthermore, Speak plans to continue expanding its global presence. In addition to adding new language courses, such as Spanish, to the North American and European markets, the platform will also enter the Chinese-speaking market. The team is adjusting the interface to Chinese and creating localized, real human teaching content and conversation topics. Currently, Speak has already launched its English language courses in Taiwan.
As Speak continues to rapidly expand in the global market, its AI language learning platform will open up opportunities for more people to learn English, leading the innovation in the global language learning field.
