OpenAI-backed language learning app Speak raises $16M in Series B-2 funding to expand to the US

Speak, an English language learning app backed by OpenAI, has raised $16 million in a Series B-2 funding round led by angel investor Lachy Groom. The round also included participation from the co-founders of Dropbox, Drew Houston and Arash Ferdowsi.

Speak's app uses AI to provide users with personalized feedback on their pronunciation, grammar, and vocabulary. The app also offers a variety of interactive speaking experiences to help users practice conversing in English.

Speak is currently available in around 20 countries, and the company plans to use the new funding to expand to more markets, including the U.S. Speak also plans to use the funding to develop new features for its app, such as the ability to learn other languages.

"We're excited to bring Speak to more people around the world and help them learn English," said Speak CEO Connor Zwick. "We believe that everyone should have access to high-quality language education, and we're committed to making Speak as affordable and accessible as possible."

Speak's funding round comes at a time when the global language learning market is expected to reach $60 billion by 2025. The market is being driven by the increasing demand for English language skills in the workplace and the growing popularity of online language learning platforms.

Speak is well-positioned to capitalize on this growth. The app has a strong user base in South Korea, and it has also been adopted by businesses and schools in the country. Speak is also expanding into new markets, such as the U.S., where the demand for English language skills is high.

With its strong user base and growing popularity, Speak is poised to become a major player in the global language learning market. The company's commitment to affordability and accessibility will make it a valuable resource for learners around the world.

Here are some additional thoughts on the matter:

• Speak's use of AI to provide personalized feedback is a major differentiating factor. This allows the app to provide more effective and efficient language learning.
• Speak's focus on low-cost language education is also a major advantage. This makes the app more accessible to a wider range of learners.
• Speak's expansion into new markets is a sign of the company's growth and potential. The company is well-positioned to capitalize on the growing demand for English language skills around the world.