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English Learning Platform Elsa Lands $22.5M Series C

Sep 12, 2023almost 2 years ago

Amount Raised

$22.5 Million

Round Type

series c

San FranciscoSmart CitiesNon Profit

Investors

LohGlobal VenturesMonk’s Hill VenturesGradient VenturesDevelopment Bank Of JapanVietnam Investments GroupAozora BankUni PresidentUob Venture Management

Description

ELSA, the English language learning platform, announced today it has raised $22.5 million in Series C funding. It also launched ELSA AI Tutor, which draws on years of speech recognition data collected by the app and reproduces conversations through generative AI to help learners correct their pronunciation, grammar and tone. This brings ELSA’s total raised so far to $60 million.

Company Information

Company

Elsa

Location

San Francisco, California, United States

About

Together with a very talented team of speech recognition scientists and linguistic experts, we created ELSA (English Language Speech Assistant), one of the smartest A.I. assistant for pronunciation training and accent reduction. Our vision is to enable the 1.5 billion language learners around the globe to speak foreign languages with full confidence and unlock their opportunities in life. Our flagship product, ELSA Speak, is a personal virtual pronunciation coach. ELSA can listen to you speak English, pick out the exact errors as you speak at an individual sound level or intonation, rhythm, and pitch. ELSA will then give you instant feedback and recommendations on how to fix those errors. All these feedback are fully automated using our proprietary speech recognition technology based on deep-learning algorithm. Our recent accomplishments: - “The Best Digital Learning App” at Reimagine Education 2016 - The 2016 winner of the world’s largest startup competition SXSWEdu Launch - Honorable Mention: Fast Company's World Changing Ideas Awards, 2020 - GSV Edtech 150, CBInsights AI 100, 2020 & 2021 - Recognized as Top 5 Best Artificial Intelligence Apps (by Research Sniper); and Top 4 Companies Using AI To Transform The World (by Forbes) - 50+ million users across 200+ countries - Invested by Gradient Ventures - Google’s A.I. fund For career opportunities, please visit https://elsaspeak.com/careers

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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