Speak lands investment from OpenAI to expand its language learning platform
Summary
Prior to starting Speak, the two spent a year studying and researching machine learning and developing accent detection algorithms using YouTube videos as training data. Through the platform, users can hold open-ended conversations with an "AI tutor" on a range of topics while receiving feedback on their pronunciation, grammar and vocabulary.The premise might sound like Duolingo and some of the other AI-powered language learning apps out there, such as Yanadoo, ELSA and Loora. Its one of the top education apps in Korea on the iOS App Store, with over 15 million lessons started annually, 100,000 active subscribers and "double-digit million" annual recurring revenue.Speak offers auto-renewing monthly and annual subscriptions, both of which provide access to courses, electives and review content in addition to the AI-guided practice sessions.For Speaks next act, the company plans to expand to new languages and markets, including Japan, and invest in features that leverage text-generating models like OpenAIs GPT-3. "The pandemic accelerated remote work and the expansion of global, distributed teams, meaning theres even more demand for people around the world to speak the same language. Zwick says that the new funding, which brings Speaks total raised to "just over" $47 million, will be put toward expanding the companys engineering, machine learning, product, marketing, content and operations departments.
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