The language learning app Speak raises $20 million and doubles its valuation

Speak, an AI-powered language learning app, has been rapidly expanding since its launch in South Korea in 2019. According to CEO and co-founder Connor Zwick, the app has amassed a user base of over 10 million users and is now operational in more than 40 countries. Notably, Speak’s user base has been doubling every year for the past five years, highlighting its significant growth trajectory.

To fuel its ongoing expansion efforts, Speak recently closed a $20 million Series B extension round led by Buckley Ventures. The round also saw participation from notable investors including the OpenAI Startup Fund, Khosla Ventures, Y Combinator co-founder Paul Graham, and LinkedIn executive chairman Jeff Weiner. This funding round brings Speak’s total raised capital to $84 million and doubles its valuation to $500 million.

Speak was founded in 2014 by Connor Zwick and Andrew Hsu, both alumni of the Thiel Fellowship. The app distinguishes itself by focusing on teaching languages through speaking patterns and repetitive practice in structured lessons, rather than traditional methods of memorizing vocabulary and grammar. This approach aligns with the app’s core mission of encouraging verbal communication, hence its name “Speak.”

While Speak shares similarities with popular language learning platforms like Duolingo, particularly in utilizing generative AI features, it prioritizes active verbalization as a fundamental aspect of language acquisition. This strategy has resonated with users globally, contributing to its rapid adoption and expansion across diverse international markets.

The substantial funding secured through its Series B extension is expected to further accelerate Speak’s growth initiatives, enabling the company to enhance its technology, expand its user base, and continue innovating within the competitive landscape of AI-driven language learning apps.