Speak Receives Investment

Speak, an artificial intelligence (AI)-powered English learning platform, has raised $16 million in a recent funding round. The investment was led by existing investor OpenAI Startup Fund and new investors including Dropbox founders Drew Houston and Arash Ferdowsi. It was also led by venture capitalist Lachy Groom. This brings the total amount of funding Speak has raised to $63 million. The funding will support the company's international expansion plans as it seeks to enter new markets. Speak did not disclose its valuation or user numbers. However, the company has users in more than 20 countries, including Japan, Taiwan, Germany, France, France, Brazil and Mexico.

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Speak as a Language Learning Platform

The success of OpenAI's chatbot ChatGPT has sparked a competitive race between AI firms such as Google-backed Runway and Microsoft-backed Inflection AI. Investors are eager to find the next breakthrough in this rapidly evolving technology. Speak is based in San Francisco and was founded in 2016. It aims to revolutionise language learning using artificial intelligence technology. The company's platform provides users with personalised lessons and feedback to improve their English language skills. OpenAI Startup Fund, which participated in this financing round, invests $100 million in artificial intelligence companies. The fund is looking for early-stage startups in sectors such as health, climate change and education.

The problem is that it is almost impossible to learn to speak a language without constant access to a speaking partner. Grammar and vocabulary exercises don't really help. You actually need to talk to someone. This is why almost everyone fails unless they move to an English-speaking country. Speak is on a journey to fix this. We're creating an AI-powered experience that mimics the flow of a conversation without the need for a human on the other side. The aim is to make being able to hold a conversation in English radically more accessible, and ultimately help hundreds of millions of people gain fluency who otherwise wouldn't be able to do so.