AI Language Startup Speak Hits Unicorn Status After Raising $78M Series C
Summary
Speak, a startup that wants to help people learn new languages through AI, raised a fresh $78 million Series C led by Accel doubling its valuation in fewer than six months and reaching unicorn status at a $1 billion valuation.It was just last June when the San Francisco-based startup announced a $20 million Series B extension at a $500 million valuation.Of course, such valuation jumps are nothing new for startups that include AI in their products. In Speaks case, the startups platform generates audio conversations between the app and the user, and using AI helps improve users fluency.The company said it has created more than 25 million personalized lessons for its users just this year, and since its previous funding round introduced its enterprise offering for employers.Existing investors in the new round include OpenAI Startup Fund, Khosla Ventures and Y Combinator among others. Founded in 2016, Speak has raised $162 million, per the company.We are at an inflection point of a transformative shift in learning with AI, said co-founder and CEO Connor Zwick in a blog. English isnt just a language; its a key that unlocks life-changing opportunities from higher education and global careers to meaningful cross-cultural connections. We are energized by the opportunity to make personalized, AI-powered language tutoring accessible to millions of people worldwide.Speak is just the latest startup infusing AI into its application and raising big cash.Last week, investment platform Public raised $135 million in equity and debt financing as it looks to grow AI-enabled research features.So far this year, AI-related startups have raised more than $87 billion, according to Crunchbase data.