Business News Report
February 21, 2024

Loora Raises $12M Funding to Personalize English Learning with Generative AI

In Brief

Loora raised $12 million funding to enhance proprietary AI capabilities that power its language learning app, and extend its market reach.

Loora Raises $12M Funding to Personalize English Learning with Generative AI

Generative AI-based English language learning company Loora raised $12 million in funding. The Series A round was led by QP Ventures, with participation from new investor Hearst Ventures and existing investors Emerge and Two Lanterns Venture Partners, among others.

The new funding comes just eight months after Loora’s launch from stealth with a $9.25M seed funding round. Loora stated it will utilize the funds to expand its team, advance proprietary AI capabilities to fuel its mobile app, and extend its market reach to new audiences in the coming months.

In 2023, the company achieved an over eight times increase in annual recurring revenue (ARR) and two times improvement in user retention. Its unique AI training methodology and proprietary data are fueling the company’s rapid growth, which continuously improves its core models.

“There is a high demand for English language learning solutions across the globe. Yet, existing solutions are either ineffective or inaccessible, leaving many people unable to develop true English fluency. This recent funding will allow us to expand our solution to more learners and audiences across the globe – including Android users and enterprise customers – thereby giving more people the opportunity to improve their personal and professional prospects through English fluency,” Roy Mor, CEO and co-founder of Loora told MPost.

“With this funding, we also plan to expand our user base and market share through the launch of an Android version of our app and a B2B offering that will be available to employers, universities, and other organizations,” Mor added.

With Loora, learners have 24/7 access to their personal AI tutor, ready to speak about any topic they choose while giving personalized, real-time feedback using AI specifically built, trained, and optimized for this goal.

Easing Language Learning Through AI-Powered Personalization

Loora’s mobile app platform leverages bespoke AI capabilities to enhance personalized language learning experiences. The system employs generative AI, optimized explicitly over time to address the challenge of delivering engaging and effective conversational journeys for users. By focusing on individualized learning paths and providing real-time feedback on grammar, pronunciation, and accent, Loora addresses common insecurities for non-native English speakers.

Furthermore, the app offers direct translations into learners’ native languages when needed, contributing to a comprehensive and supportive learning environment.

“With Loora, learners can practice any real-world situation they choose, and the app also suggests conversation topics that may be helpful. This gives learners practical opportunities to practice and gain the skills they personally and realistically need, whether that’s the ability to engage in a high-level discussion of a certain topic for work purposes or to participate in a professional interview,” Loora’s CEO Roy Mor told MPost. “Over 70% of our learners use Loora specifically for this purpose, aiming to improve their English for professional advancement.”

Mor added that the platform’s unique ability to provide effective and personalized English learning experiences and optimized AI capabilities play a crucial role. Additionally, proprietary data and a dedicated training and evaluation system for Language Learning Models (LLMs) contribute to sustained user engagement and increasing retention rates.

Loora employs various strategies to expand its user base across diverse regions, including social media, marketing initiatives, and word of mouth. Additionally, the platform plans to introduce new features and offerings in 2024, including an Android version and a B2B solution, responding to growing demand and reaching a broader audience of English learners.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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