ELSA, the English language learning platform, has announced a successful Series C funding round, raising an impressive $22.5 million. The company also introduced an exciting new feature, ELSA AI Tutor, which utilizes advanced generative AI technology to help language learners improve their pronunciation, grammar, and tone. This latest funding brings ELSA’s total raised capital to $60 million.
Key Takeaway
ELSA, the English language learning platform, has secured $22.5 million in Series C funding and launched ELSA AI Tutor. This voice-based AI tutor utilizes generative AI technology to improve learners’ pronunciation, grammar, and tone. The funding will be used to expand ELSA’s global offering and strengthen its presence in markets such as Taiwan, the Middle East, and Turkey. With its innovative AI-driven solutions, ELSA aims to empower individuals to excel in the global job market by enhancing their English skills.
New Funding and Investor Support
Leading the Series C funding round is UOB Venture Management, with notable participation from UniPresident, Aozora Bank, Vietnam Investments Group (VIG), and Development Bank of Japan (DBJ). Existing investors Gradient Ventures (Google’s AI-focused fund), Monk’s Hill Ventures, and Global Ventures have also returned for this round. Clarissa Loh, Senior Director at UOB, has joined ELSA’s board.
ELSA’s previous funding round, a Series B of $15 million, was announced in January 2021. The company currently maintains offices in San Francisco, Lisbon, and Ho Chi Minh City.
Expansion Plans and Global Offering
ELSA’s founder and CEO, Vu Van, expressed excitement about the investment, noting that the funding will be used to support and expand the platform’s global offering. Van stated, “We plan to amplify our presence in Taiwan with our new investors, enter the Middle East and Turkey market, and further advance our success in Japan while focusing on business-to-business opportunities. By empowering more individuals with stronger English skills, we aim to enable them to access a wider range of job opportunities in the global market.”
Introducing ELSA AI Tutor
A noteworthy addition to ELSA’s platform is the ELSA AI Tutor, a voice-based AI tutor designed to simulate realistic conversations. Using years of accumulated speech recognition data, the AI tutor provides users with personalized feedback on their pronunciation, grammar, and cadence. It also guides learners on using the appropriate tone and language in different professional settings. With its ability to customize lessons based on user performance history, ELSA AI Tutor allows individuals to practice spoken English in live conversation scenarios, even without access to a tutor.
Advancing Education with Artificial Intelligence
UOB’s Senior Director Clarissa Loh commented on the investment, stating, “We firmly believe that artificial intelligence will revolutionize the education industry. ELSA’s affordable and personalized AI-enabled English speaking solution will enable users to enhance their language skills, opening up greater job opportunities, especially in developing countries. We are thrilled to support ELSA’s expansion into new markets, particularly in Southeast Asia.”
