AI-powered language learning platform, Speak raised $78 million in a Series C funding round on Dec. 10, led by Accel and with participation from OpenAI’s Startup Fund, Khosla Ventures, and Y Combinator, pushing its valuation to the unicorn status of $1 billion.
Connor Zwick, CEO and co-founder of Speak, took to LinkedIn to announce his company’s latest milestone, “We’re very excited to announce that we’ve raised a $78m Series C from Accel at a $1b valuation!”
According to Bloomberg, Speak has raised a total of $162 million to date, with its valuation doubling from $500 million to $1 billion in just six months.
Speak is an AI-powered language learning platform that stands out by addressing a critical gap in traditional and app-based language learning—spoken fluency. Unlike other platforms, Speak employs advanced AI to simulate real-world conversations through role-playing and personalized lessons. By leveraging the latest large language models (LLMs) and proprietary speech technology, Speak adapts dynamically to each user’s learning pace and style.
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The company’s innovative approach extends to enterprises with “Speak for Business,” enabling organizations to provide English language training for employees across industries. With a client base exceeding 200 companies and an impressive 85% adoption rate among employees, Speak’s influence is both personal and professional.
Khosla Ventures’ successful investments
Khosla Ventures has a track record of backing some of the most successful companies across different industries. Some of the standout investments include OpenAI, a trailblazer in artificial intelligence research, shaping the future of AI; DoorDash, a household name in food delivery; Stripe, a go-to platform for online payment processing trusted by businesses worldwide; Instacart, a rapidly growing grocery delivery and pick-up; Guardant Health, a cutting-edge cancer blood-testing company that went public in 2018 with a $1.6 billion valuation.
These examples highlight Khosla Ventures’ knack for identifying startups with the potential for massive growth and market disruption across tech, healthcare, and financial services.
So why did Khosla Ventures invest in Speak?
Khosla Ventures’ investment in Speak perfectly matches its commitment to bold, high-impact innovations that shake up established industries. Speak’s cutting-edge AI technology, vast market potential, and impressive growth trajectory made it an obvious choice for the firm.
Speak sets it apart from its contenders by using state-of-the-art AI, including GPT-4o speech-to-speech technology, to create personalized and natural language learning experiences. This groundbreaking approach aligns seamlessly with Khosla’s focus on transformative tech.
With 1.5 billion people worldwide striving to learn English, Speak is tapping into a massive, ever-expanding market. And the startup’s mission goes beyond language learning—by making spoken fluency accessible, it’s opening doors to education, global career opportunities, and meaningful cultural connections for millions.
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Recent Investments by Khosla Ventures
Founded by Vinod Khosla in 2004, Khosla Ventures has a history of identifying and nurturing groundbreaking startups. The firm’s investment portfolio spans sectors like artificial intelligence, digital health, fintech, and climate technology. With over $15 billion in assets under management, according to a report by OurCrowd, it is one of the leading venture capital firms globally.
Khosla Ventures’ investment in Speak is part of its broader trend of funding innovative startups. Here are some other recent investments made by Kholsa Ventures:
Q Bio: A health diagnostics platform, raising $27 million in a Series D round (July 2024), according to a report by CB Insights.
Aven: A fintech company, securing $142 million in Series D funding (July 2024).
Sakana AI: A startup specializing in AI for industrial applications, raising $100 million in Series A funding (June 2024).
Genie AI: Focused on AI-powered legal document review, receiving $17.8 million in Series A funding (October 2024).
Even Healthcare: A Bangalore-based healthcare services provider, raising $30 million (October 2024).
Loti AI: In late September 2024, Khosla Ventures made an additional investment in Loti AI’s seed round, bringing the total raised to $6.65 million, according to Business Wire.
With its new funding, Speak is poised for further expansion, aiming to bring its AI-powered language learning to more countries by 2025. The platform’s continuous advancements in speech technology and dynamic learning experiences promise to redefine how people achieve spoken fluency. As the company scales globally, it remains committed to its vision of making personalized language tutoring accessible to millions.
Speak’s growth story and Khosla Ventures’ investment underscore the transformative potential of AI in education. Speak is not just teaching languages but opening doors to opportunities worldwide.