Link: AI language learning startup Speak, which focuses on speaking, not gamification, raised $78M led by Accel at a $1B valuation, taking its total funding to $162M (Jackie Davalos/Bloomberg)

Speak, an AI-driven language learning startup, has doubled its market value to $1 billion following a successful funding round. This increase comes only six months after the previous valuation.

The company, backed by heavyweight investors like Accel and OpenAI Startup Fund, has raised a total of $162 million to date. The recent funding round contributed $78 million.

Unlike its competitors, Speak uses advanced AI to focus on enhancing actual conversational skills rather than gamification of language learning. Its proprietary technology includes a speech recognition model that adapts to various accents for effective feedback.

Speak boasts a subscription model starting at $20 per month, and CEO Connor Zwick reveals that the company is nearing profitability with revenues in the eight figures. The startup also offers an enterprise version gaining popularity among global companies.

With the fresh capital, Speak plans to expand its services across Southeast Asia, Europe, and the United States. They aim to support most major languages by next year’s end.

While enterprise AI companies have captured significant investment, consumer AI offerings like Speak are beginning to show substantial revenue potential, validating the market's growing interest in AI-enhanced consumer applications. #

--

Yoooo, this is a quick note on a link that made me go, WTF? Find all past links here.