Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Finding Your Voice: Expressing Yourself Despite Nervousness

    The Psychology Of Color In POD Design

    Buying Life Insurance After Being Diagnosed With an Ailment

    Facebook Twitter Instagram
    Trending
    • Finding Your Voice: Expressing Yourself Despite Nervousness
    • The Psychology Of Color In POD Design
    • Buying Life Insurance After Being Diagnosed With an Ailment
    • A Cozy Nook: Creating a Relaxing Space with Divan Sofas and Corner Shelves
    • Explore Top Tech Websites for Latest News, Reviews, and More!
    • The Ultimate Guide: Making an Informed Choice on LCD Panels
    • Discovering Excellence: The Definitive Guide to Choosing the Best Bunker Hill Security Cameras
    • Discovering Azurewav: Pioneering the Future of Seamless Connectivity 
    Facebook Twitter Instagram Pinterest Vimeo
    unlockthewebs
    • Business
    • Casino
    • Fashion
    • Finance
    • Health
    • Contact Us
    unlockthewebs
    You are at:Home » In order to grow its language learning platform, OpenAI invests Series B funding round of $27 million in Speak
    Business

    In order to grow its language learning platform, OpenAI invests Series B funding round of $27 million in Speak

    vivek chaudharyBy vivek chaudharyJanuary 13, 2023Updated:April 18, 2023No Comments5 Mins Read2 Views
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email

    Today, Speak, an AI-powered English language learning platform, announced a Series B funding round of $27 million led by the Founders Fund, the OpenAI Startup Fund, and Lachy Groom, Josh Buckley, Justin Mateen, Gokul Rajaram are among the contributors. OpenAI, the closely aligned AI lab with Microsoft, has publicly invested in Speak for the third time through its fund — the others are Descript and Mem.

    In addition to capital, OpenAI Startup Fund participants receive early access to new OpenAI systems and Azure resources from Microsoft.

    OpenAI is excited to announce that they’re partnering with Speak, a company that will bring quality language learning to the masses. “Companies like Speak have the potential to revolutionise not just language learning, but education broadly,” says Brad Lightcap CEO and the manager of the OpenAI Startup Fund. As per openAI 27m wiggerstechcrunch

    Speak overview

    It was founded in 2016 by Connor Zwick and Andrew Hsu, both of whom were passionate about artificial intelligence and health. Hsu completed a PhD in neuroscience at Stanford before joining Zwick and co-founding Speak with him. As an edtech veteran, Zwick sold his first startup, Flashcards+, to Chegg in 2013 after dropping out of Harvard.

    As part of The Thiel Fellowship, Zwick was in the first cohort, while Hsu was in the second. The Founders Fund, which Thiel co-founded, contributed cash to Speak’s Series B. Before starting Speak, the two spent a year studying machine learning and developing accent detection algorithms using YouTube videos.

    In an email interview with TechCrunch, Zwick told TechCrunch, “Most language learning software can help with the beginning stages of learning basic vocabulary and grammar, but achieving fluency requires speaking out loud in an interactive environment. The only way to get such practice is through human tutors, which can also be difficult, expensive, and intimidating.

    Learners can practise conversing in English with Speak’s solution, a collection of interactive speaking experiences. As a result of the platform, users can converse openly on a wide range of topics with an “AI tutor” while getting feedback on their pronunciation, grammar, and vocabulary.

    There are a number of AI-powered language learning apps out there, including Duolingo, Yanadoo, ELSA, and Loora. But Zwick insists Speak’s AI is superior to most.

    To deliver the best performance across speech recognition, speech generation, and conversation generation, we combine OpenAI technology with in-house models. With [our] models, we can provide feedback on pronunciation, vocabulary and syntax that are more natural. With the help of a substantial data set of second-language labeled speaking examples, we are able to offer state-of-the-art speech models specifically tailored for foreign accented speakers.”

    Speak didn’t provide any empirical data that showed its platform outperformed its rivals. However, Speak does possess early momentum that is demonstrably strong. Over 15 million lessons are started every year, 100,000 active subscribers, and “double-digit million” annual recurring revenue make it one of Korea’s top education apps on the iOS App Store.

    Future Plans of speak

    In addition to AI-guided practice sessions, Speak offers auto-renewable monthly and annual subscriptions that provide access to courses, electives, and review content.

    With Speak’s next act, the company plans to expand to new languages and markets, including Japan, and integrate text-generating models such as OpenAI’s GPT-3.

    There is an increased need for workers who speak the same language around the world as a result of the pandemic, which hastened remote work and the growth of global, distributed teams. Additionally, it has increased demand for fresh approaches that emphasise programmatic or remote learning rather than face-to-face training. added Zwick. 

    Speak has managed to stay relatively lean and has a long runway, allowing it to determine its own course of action regardless of the state of the fundraising market in the coming years.Speak now employs 40 people in its offices in San Francisco (where it is based), Seoul, and Ljubljana, Slovenia. 

    The additional money, which puts Speak’s total funding garnered to “just over” $47 million, will be used to grow the organisation’s engineering, machine learning, product, marketing, content, and operations divisions, according to Zwick.

    Conclusion

    Today’s announcement marks an exciting milestone both for Speak and its investors. With this new funding, the AI-powered English language learning platform will be able to expand their team and operations which can be expected to bring innovative new solutions that provide more people with the opportunity to become fluent in English. This Series B round of  $27 million led by the Founders Fund, the OpenAI Startup Fund, and Lachy Groom, Josh Buckley, Justin Mateen, Gokul Rajaram funding also highlights some of today’s top venture capitalists who recognize Spaak’s potential, not only as a great business but as a tool that has the capacity to revolutionize how people learn English around the world.

    Also Read: How Tools Like Social Listening Skills Helps With Marketing Campaigns

    openAI 27m azure wiggerstechcrunch openAI 27m rajaram wiggerstechcrunch openAI 27m series wiggerstechcrunch openAI 27m wiggerstechcrunch
    Share. Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Telegram Email
    Previous ArticleJEDOX Secures New Funding Round of more than $100M 
    Next Article Lengoo brings in a new $20M round with AI translation offering that rivals experts.
    vivek chaudhary

    Related Posts

    The Psychology Of Color In POD Design

    September 21, 2023

    Buying Life Insurance After Being Diagnosed With an Ailment

    September 20, 2023

    A Unique Online Forum Community Thotbays

    September 4, 2023

    Leave A Reply Cancel Reply

    Top Posts

    How to Register & Login with Go Perya.net: Live Streaming, Go Perya.net Apps, and Easy Access

    July 25, 202398 Views

    Cloud techasia24.in: Transforming Businesses with Cloud Technology

    July 21, 202397 Views

    Is Biocentrism Debunked? Everything You Need To Know

    August 16, 202387 Views

    Jeinz Macias: Free Live Football on Your Phone

    July 25, 202375 Views
    Don't Miss
    CBD September 21, 2023

    Finding Your Voice: Expressing Yourself Despite Nervousness

    You know you have something to say, but when it comes time to speak up,…

    The Psychology Of Color In POD Design

    Buying Life Insurance After Being Diagnosed With an Ailment

    A Cozy Nook: Creating a Relaxing Space with Divan Sofas and Corner Shelves

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    About Us
    About Us

    Your source for the Business news. This news platform is crafted specifically for global news.

    Email Us: rehanraza224155@gmail.com

    Facebook Twitter Pinterest YouTube WhatsApp
    Our Picks

    Finding Your Voice: Expressing Yourself Despite Nervousness

    The Psychology Of Color In POD Design

    Buying Life Insurance After Being Diagnosed With an Ailment

    Most Popular

    Know All About Cox Email & Log-in Process

    October 18, 20220 Views

    How To Repair Your Ps4 Without Voiding The Warranty

    December 16, 20220 Views

    Top 4 Reasons to Invest in Real Estate Market in Buckeye

    February 14, 20230 Views
    © 2023 gonbcnews.com - All rights reserved
    • Trending
    • Recent

    Type above and press Enter to search. Press Esc to cancel.