AI-Powered Language Learning App Speakis on a Tear
Since its inception in 2019, Speak, the language learning app founded by Connor Zwick and Andrew Hsu, has experienced unprecedented growth. With over 10 million users worldwide, Speak’s user base has doubled every year for the last five years, solidifying its position as one of the leading AI-powered language learning platforms.
Investors Pledge Additional Cash to Support Expansion
In a significant development, investors are now backing Speak with additional funding to fuel its expansion plans. The company recently closed a $20 million Series B extension 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. This investment brings Speak’s total raised to $84 million, effectively doubling its valuation to half-a-billion dollars.
Speak’s Unique Approach to Language Learning
Launched in 2014 by Zwick and Hsu, who met while participating in the Thiel Fellowship, Speak differs from other language learning apps like Duolingo. Instead of focusing on memorizing vocabulary and grammar rules, Speak emphasizes verbalizing and practicing repetition in crafted lessons. This approach enables users to develop speaking skills, a crucial aspect of language acquisition that is often neglected by traditional methods.
"Our core philosophy is centered around getting users to speak out loud as much as possible," Zwick explained. "Attaining fluency helps people form connections, connect cultures, and create economic opportunities." By prioritizing verbalization, Speak aims to revolutionize the way we learn languages, making it more accessible and effective.
Lessons in Multiple Languages
Initially available only in English, Speak has expanded its offerings to include Spanish lessons powered by a speech recognition model trained on in-house data. The company is now gearing up to launch French lessons, although Zwick did not provide a specific timeline for this release.
Monetization Strategy
Speak generates revenue through subscription-based models, offering users access to all of the app’s features, including review materials and one-off courses, for $20 per month or $99 per year. This approach enables Speak to monetize its user base while maintaining a competitive edge in the market.
Future Roadmap and Development
With a 75-person workforce spread across offices in San Francisco, Seoul, Tokyo, and Ljubljana (Slovenia’s capital), Speak is committed to developing new models that deliver better real-time feedback on tone and pronunciation. Zwick stated that this will be a key area of focus for the company moving forward.
Impact and Significance
Speak’s growth trajectory and innovative approach to language learning have significant implications for the industry as a whole. By providing users with an effective way to develop speaking skills, Speak is poised to revolutionize the way we learn languages and bridge cultural divides. As the world becomes increasingly interconnected, platforms like Speak will play a vital role in fostering global understanding and economic opportunities.
Conclusion
With its commitment to innovation, user-centric design, and market-driven growth, Speak has established itself as a leader in the AI-powered language learning space. As investors continue to back this promising startup with additional funding, it is clear that Speak’s future prospects are bright indeed.
