Elsa, a San Francisco, CA-based provider of a mobile app that uses artificial intelligence and speech recognition technology to help language learners improve their English speaking skills and pronunciation, raised a Series B funding of $15m.
The round was co-led by VI (Vietnam Investments) Group and SIG with participation from previous investors Gradient Ventures, Google’s AI-focused venture fund, SOSV, and Monk’s Hill Ventures and new investors Endeavor Catalyst, Globant Ventures and U2’s The Edge (David Evans).
The company intends to use the funds to expand its R&D to further develop its voice recognition AI, build a scalable B2B platform, hire new talent, and continue to grow in Asia (in Vietnam, India and Japan) and Latin America.
Founded in 2015 by Stanford alum Ms. Vu Van, and Dr. Xavier Anguera, Elsa (English Language Speech Assistant) is an English speaking and pronunciation app which helps language learners improve their speaking ability by listening to how they pronounce words, sentences or conversations to pinpoint exact errors and provide real-time, accurate suggestions on their pronunciation mistakes. With the increase of remote work and investment from companies looking to improve the English speaking skills of their staff, especially in Asia and LatAm regions, the company has signed numerous partnerships with corporations and educational institutions worldwide. The app has over 13 million users worldwide.
The company also has offices in Portugal and Vietnam.
FinSMEs
01/02/2021