LatamList – ELSA, an AI English pronunciation assistant, raised a $15M Series B funding round led by Vietnam Investments Group and SIG. Gradient Ventures, SOSV, Monk’s Hill Ventures, Endeavour Catalyst, and Globant Ventures also participated in the round.
ELSA (English Language Speaking Assistant) is a B2B mobile app that uses AI speech recognition technology to help language learners improve their English speaking skills and pronunciation. The app has over 13 million users across the globe from corporations to language learning institutions.
“We’re pleased to leverage the support of our investors as we rapidly grow across Asia with an introduction into the Latin America market this year,” said Vu Van, co-founder and CEO of ELSA.
The company nearly doubled its customer base in 2020, and increased revenue by almost 300%. The new funding will go towards further developing the app’s voice recognition technology and scaling the platform in the global market. In particular, the company is looking to expand in Latin America.
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