Speak Easy Labs Korea, the operator of the AI-powered English learning platform Speak, has joined the ranks of unicorn companies. The company achieved this milestone by raising approximately KRW 109.4 billion (USD 78 million) in a Series C funding round, bringing its valuation to KRW 1.4 trillion (USD 1 billion).
The funding round was led by renowned venture capital firm Accel, a key investor in tech giants like Meta and Slack. Existing investors, including the OpenAI Startup Fund, Khosla Ventures, and Y Combinator, also participated. This marks a significant milestone for Speak, which has secured a total of KRW 227.4 billion (USD 162 million) in cumulative investment, doubling its valuation in just six months following the previous B3 funding round.
“Speak is a company that has shown unparalleled growth and potential in the consumer AI space,” said Ben Quazzo, an investment partner at Excel and a member of Speak’s board of directors. “With its expansion into global markets and the enterprise, Speak will open a new chapter in personalized language learning.”
With this investment, Speak plans to advance its AI-based personalized learning service and accelerate its entry into the global and corporate education market. It aims to provide a dynamic learning experience optimized for each learner’s learning style and progress by combining the latest AI technology, advanced learning engine, and self-developed voice technology.
“English is more than just a language; it’s the key to global careers and cross-cultural communication,” said Corner Nicolai Zwick, CEO of Speak. “Speak is focused on helping users feel confident from their first conversation.” He continued, “This entry into the unicorn company category is proof that Speak is revolutionizing the paradigm of language learning,” expressing his confidence in the service. He added, “This year alone, users have already spoken more than 1 billion sentences through Speak,” and “We will continue to provide innovative AI tutoring to help millions of learners overcome language barriers and enter a wider world.”
Speak has become a leader in the industry with its proprietary learner speech induction system powered by AI and in-house voice recognition technology. Its services span 40 countries and 12 languages. Expanding its portfolio, Speak recently launched S4B (Speak for Business), a corporate English learning solution designed for businesses of all sizes, offering tailored English training solutions across industries.
This latest funding positions Speak at the forefront of consumer AI services and the global language learning market, setting the stage for a transformative era in personalized education.
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