Speak, an AI-based language learning platform, has successfully secured $78 million in Series C funding, raising its valuation to $1 billion. This latest funding round was led by Accel, with continued support from existing investors such as the OpenAI Startup Fund, Khosla Ventures, and Y Combinator, among others. 

This marks Speak’s second preemptive raise within the year, with its valuation having doubled over the past six months. To date, Speak has raised a total of $162 million.

Founded eight years ago with the mission to transform language learning, Speak has developed a unique AI tutor aimed at achieving spoken fluency. The platform addresses the fundamental challenge of achieving conversational proficiency, a gap unbridged by traditional and mobile app-based language learning solutions. According to user feedback, many learners have only been able to speak comfortably in English after using Speak. This year alone, users have spoken over one billion sentences using the platform.

Ben Quazzo, a partner at Accel who led the investment round and will join Speak’s Board of Directors, praised Speak for its standout performance in consumer AI, noting its rapid growth and significant market potential. He highlighted Speak’s strategic moves into global and enterprise markets, its personalized language learning solutions, and its experienced team as key factors in its success.

Looking ahead, Speak is set to expand its product offerings significantly. The company plans to introduce more dynamic and personalized learning experiences, leveraging the latest language learning models (LLMs) and advancements in speech technology. In 2025, Speak aims to extend its services to many more countries.

Additionally, Speak has recently launched Speak for Business, an enterprise solution that provides effective English learning across various industries. This new offering has already garnered over 200 corporate customers and boasts an 85% adoption rate among employees.

Ian Hathaway, a partner at the OpenAI Startup Fund, expressed enthusiasm for Speak’s progress, citing their AI expertise and innovative approach as transformative in the language learning sector. As Speak continues to push the boundaries of AI in education, it remains committed to unlocking new opportunities for users globally through enhanced language proficiency.