Israeli AI English Learning App 'Liora' Raises $22 Million
Translated & summarized from Ice by baba
Israeli AI startup Liora, which offers an English learning app with over 15 million users, has raised $22 million in Series B funding. The company will use the capital to expand R&D, grow internationally, and double its staff, focusing on AI and learning science roles.
The story in 5 lines · by baba
- Israeli AI app Liora raised $22 million in Series B funding.
- The app has over 15 million users globally.
- Funds will support R&D, international growth, and hiring.
- Liora aims to make personalized English tutoring accessible.
- Company revenues have more than doubled in the past year.
Israeli startup Liora, an AI-powered English learning application with over 15 million users globally, announced on Wednesday it has closed a $22 million Series B funding round. The round was led by Union Tech Ventures and included participation from vgames and existing investors Emerge, Hearst Ventures, and QP Ventures. This latest funding brings Liora's total raised capital to approximately $43 million.
The company plans to utilize the new funds to expand its research and development efforts, accelerate growth in the US, Europe, Asia, and South America, and further develop its data infrastructure and research systems. Liora anticipates doubling its workforce within the next six months, with a significant portion of new hires focused on AI research and development and learning science.
Founded by Roie Mor and Yonatan Levin, who met while serving in the elite Sayeret Matkal unit, Liora aims to address the global challenge of English proficiency, which is crucial for career advancement and academic opportunities for a vast portion of the world's population. The app leverages AI to provide personalized English tutoring at an affordable price, costing around $10 per month, a stark contrast to the $50 per hour previously charged for quality private instruction.
Liora's unique approach is built on advanced technology and extensive data gathered from millions of user interactions. Unlike general AI models, Liora's system is specifically designed for language acquisition, creating one of the world's largest datasets for English learning. This allows the app to continuously adapt learning paths for each user based on effective teaching methods identified through user engagement.
With over 15 million users and more than 200 million interactions, Liora has seen its revenues more than double in the past year, achieving tens of millions in annual recurring revenue (ARR). The company has also successfully launched a B2B offering, securing partnerships with over 100 corporations, governments, and universities worldwide. The typical Liora user is between 25 and 55 years old, with 72% learning English for career advancement. User retention rates have more than doubled since the product's launch.
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