Speak startup raised $78 million in Series C funding at a valuation of $1 billion, led by Accel Ventures, with participation from OpenAI and Y Combinator. Speak is a language startup that teaches learners how to learn foreign languages by leveraging AI to learn from native speakers' speaking styles. The AI generates audio conversations and listens to user responses, allowing learners to practice conversing with AI.
OpenAI is one of the main investors in Speak, not only financially but also using OpenAI's ChatGPT technology for machine learning. Ian Hathaway, a partner at OpenAI's venture fund, invested in Speak out of a shared vision to fundamentally change language learning through artificial intelligence. It is exciting to see Speak's top-tier AI talent and unique product vision creating transformative learning experiences for a rapidly growing global user base.
The Speak app has been downloaded over 10 million times, with an average usage time of about 10 to 20 minutes per day. Paid subscribers pay $20 per month or $99 per year. Speak for Business serves over 200 clients.
The goal of the new round of funding is to expand the number of people learning foreign languages, not just focusing on traditional English, but also reaching out to those interested in learning Spanish and French.
Helping users learn languages by speaking out loud.
Traditional language teaching usually starts with reading and writing, but native speakers learn languages starting with listening and speaking. Speak's learning method immerses students in listening and conversation without explaining grammar rules, then it involves practicing the new vocabulary repeatedly, speaking it out loud, making the foreign language come out naturally.
Speak VS Duolingo
Speak's learning method utilizes generative AI to design learning courses, tailoring learning content for learners through AI language recognition and computation. Speak has not yet integrated with any language proficiency tests, unlike other online language learning platforms where Duolingo can provide English certification, allowing international students to prove their English proficiency.
Duolingo has long been designing its application with AI algorithms, turning learning into a game, and creating its own character, the praising owl teacher, to continuously commend learners for passing each level.
Language learning worldwide primarily focuses on speaking and communication, with learning vocabulary, grammar, and sentence construction being secondary. However, at this stage, Taiwan's pronunciation and language teaching do not emphasize this aspect, resulting in many international students and those needing to communicate in a foreign language being unable to speak a sentence in English. Reviewing and changing systems is usually slow; those interested in learning foreign languages can make use of mobile tool apps and online learning methods for self-study.
This article reports that OpenAI has joined the investment! Language learning AI startup Speak has raised $78 million in Series C funding, first appearing in Chain News ABMedia.