In the rapid development wave of artificial intelligence technology, the language learning platform Speak has delivered an impressive report card. The company achieved a valuation leap from $500 million to $1 billion in just six months, successfully entering the "unicorn" ranks.
This round of funding, amounting to $78 million, was led by venture capital firm Accel, with continued backing from existing investors such as the OpenAI Startup Fund and Y Combinator. Notably, OpenAI is not just a financial investor but also provides Speak with underlying AI models and voice technology support.
Unlike gamified language learning platforms like Duolingo, Speak targets a more niche market - helping users truly "speak" English. CEO Conor Zwick pointed out that among the approximately 1.5 billion English learners worldwide, the vast majority, despite having a rich vocabulary and understanding of grammar, still struggle to communicate verbally.
Image Source Note: Image generated by AI, image authorized by service provider Midjourney
Speak's learning method is quite distinctive. The platform uses AI technology to guide users through three stages: "listen-speak-apply." First, there's immersive listening and speaking, where new vocabulary is practiced repeatedly; next, users apply what they've learned in AI-simulated real-life scenarios to strengthen their language skills. Interestingly, the entire learning process is fully driven by AI, with no human involvement.
Currently, the Speak app has been downloaded over 10 million times, with users averaging 10-20 minutes of usage daily. The monthly subscription is $20, while the annual fee is $99. In addition to individual services, the company has launched "Speak for Business," catering to corporate clients, and already has over 200 business customers.
Unlike traditional language learning platforms, Speak deliberately avoids any association with language exams. The company believes that an exam-oriented approach can mislead learners and divert them from the original goal of improving actual communication skills. In the future, they plan to establish a quantitative assessment system for English proficiency.
Ian Hathaway, partner at the OpenAI Startup Fund, stated that the investment in Speak stems from a shared vision of reshaping language learning with AI. This company is creating transformative learning experiences for users worldwide.
The rapid rise of Speak not only validates the immense potential of AI in the education sector but also points to the future of language learning. With the support of AI technology, breaking down language barriers is becoming easier than ever.