Speak Language Learning App Secures $20M Investment, Doubles Valuation

Speak, the AI-powered language learning app, has achieved a significant milestone with a $20 million Series B extension, effectively doubling its valuation to $500 million. CEO and co-founder Connor Zwick revealed to TechCrunch that Speak has rapidly expanded since its inception in South Korea in 2019, now boasting over 10 million users across more than 40 countries. The startup has seen exponential growth, doubling its user base annually for the past five years.

Investors, including Buckley Ventures, the OpenAI Startup Fund, Khosla Ventures, Paul Graham of Y Combinator, and Jeff Weiner of LinkedIn, have shown confidence in Speak's future growth trajectory by backing this latest funding round. This capital infusion brings Speak's total raised funds to $84 million, supporting its ambitious expansion plans and innovative language learning methodologies.

Founded in 2014 by Zwick and Andrew Hsu, Speak differentiates itself by focusing on speaking patterns and verbal practice rather than traditional vocabulary and grammar memorization, akin to Duolingo's newer AI-driven features. Zwick emphasized, "Our core philosophy is centered around getting users to speak out loud as much as possible," highlighting the app's commitment to fluency and cultural connection.

Initially offering lessons in English and expanding to Spanish with proprietary speech recognition technology, Speak plans to introduce French lessons in the near future. The app monetizes through a subscription model, charging $20 per month or $99 annually for access to comprehensive language learning features.

With offices in San Francisco, Seoul, Tokyo, and Ljubljana, Speak's roadmap includes enhancing real-time feedback on pronunciation and tone through new AI models, reflecting its dedication to advancing language education through technology.