San Francisco, CA – Speak, an AI-powered language learning app, has seen remarkable growth since its launch in South Korea in 2019. The app, designed to enhance language proficiency through speaking practice and repetition, has expanded its user base to over 10 million globally. CEO and co-founder Connor Zwick shared these milestones in a recent interview with TechCrunch, highlighting the app’s rapid adoption and international reach.
Since its inception, Speak’s user base has doubled annually over the past five years, now spanning more than 40 countries. The latest infusion of capital, a $20 million Series B extension, underscores the confidence investors have in Speak’s future. This round was led by Buckley Ventures, with notable participation from the OpenAI Startup Fund, Khosla Ventures, Y Combinator co-founder Paul Graham, and LinkedIn executive chairman Jeff Weiner. This new funding boosts Speak’s total capital raised to $84 million, doubling its valuation to an impressive half-a-billion dollars.
| Investor | Role | Contribution |
|---|---|---|
| Buckley Ventures | Lead Investor | Spearheaded the $20M Series B extension |
| OpenAI Startup Fund | Participant | Provided significant financial support |
| Khosla Ventures | Participant | Continued backing of Speak’s innovative approach |
| Paul Graham | Co-founder of Y Combinator | Strategic advisor and investor |
| Jeff Weiner | LinkedIn Executive Chairman | Key supporter and investor |
Launched in 2014 by Connor Zwick and Andrew Hsu, who met during their time at the Thiel Fellowship, Speak diverges from traditional language learning methods. Instead of focusing on vocabulary and grammar memorization, Speak emphasizes learning speaking patterns and practicing through crafted lessons. This method is similar to the newer generative AI features of Duolingo but with a pronounced emphasis on verbalization.
“Our core philosophy is centered around getting users to speak out loud as much as possible,” Zwick said. “Attaining fluency helps people form connections, connect cultures, and create economic opportunity. It remains the most important part of language learning for people, yet historically, the least supported through technology.”
Speak initially focused on teaching English but has since expanded to include Spanish, utilizing a speech recognition model trained on proprietary data. French lessons are next on the agenda, though Zwick did not specify a launch date for this new language offering.
Speak monetizes through a subscription model, charging $20 per month or $99 annually for access to all features, including review materials and specialized courses. The company operates with a 75-person team distributed across offices in San Francisco, Seoul, Tokyo, and Ljubljana, Slovenia. The workforce is dedicated to enhancing Speak’s technology, particularly focusing on developing new models that provide better real-time feedback on tone and pronunciation.
- Global Reach: Over 10 million users in more than 40 countries.
- Annual Growth: User base doubling every year for five years.
- Significant Investment: $20M Series B extension, total of $84M raised.
- High Valuation: Current valuation at half-a-billion dollars.
- Innovative Approach: Focus on verbalization and speaking practice over traditional methods.
- Next Steps: Expansion into French lessons and enhancement of real-time feedback models.
Connor Zwick’s vision for Speak extends beyond mere language learning; it’s about connecting people and cultures and fostering economic opportunities through fluency. This vision is reflected in Speak’s commitment to innovative learning methods that prioritize verbal skills, addressing a gap in the traditional language education system.
The company’s growth trajectory is a testament to the effectiveness of its approach. By doubling its user base each year, Speak demonstrates a robust demand for its unique offering. The substantial Series B extension not only provides the financial backing needed to scale but also signifies strong investor confidence in Speak’s market potential and strategic direction.
Speak’s journey began with a focus on English, the global lingua franca. The subsequent addition of Spanish lessons, powered by advanced speech recognition technology, marks a significant step in its expansion strategy. The forthcoming French lessons indicate a continued commitment to broadening its language offerings, catering to a diverse and growing user base.
The app’s revenue model, based on affordable subscription fees, ensures accessibility while generating sustainable income. The pricing strategy, set at $20 per month or $99 per year, offers users full access to Speak’s comprehensive suite of features, making high-quality language education attainable for a broad audience.
Speak’s team, spread across multiple global offices, reflects the company’s international focus. The 75-person workforce, headquartered in San Francisco with key offices in Seoul, Tokyo, and Ljubljana, is dedicated to refining and expanding Speak’s technological capabilities. The emphasis on real-time feedback mechanisms for tone and pronunciation highlights Speak’s commitment to providing users with the tools they need for effective language learning.
As Speak continues to innovate and expand, its impact on the language learning landscape is becoming increasingly significant. The combination of cutting-edge AI technology, a user-centric approach to language education, and robust financial backing positions Speak for sustained growth and success. With plans to introduce new languages and enhance real-time feedback capabilities, Speak is poised to remain at the forefront of the AI-powered language learning market.
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Featured Image courtesy of MDERS