Loora, the Generative AI Tutor, Emerges From Stealth to Democratize Access to English Fluency
TEL AVIV, Israel, June 27, 2023 /PRNewswire/ -- Loora, the generative AI English language learning company, today emerged from stealth with $9.25M in seed funding from lead investor Emerge, with participation from Two Lanterns Venture Partners and Kaedan Capital, to further its mission of making English fluency attainable and accessible for the over one billion English learners around the world. Several angel investors also contributed to the round, including Zohar Gilon and Amit Gilon, as well as several founders from prominent technology companies Lightricks and ironSource.
With $9.25M in seed funding, the company is pioneering generative AI purpose-built for English language learning to unlock professional and socioeconomic opportunities
TEL AVIV, Israel, June 27, 2023 /PRNewswire/ -- Loora, the generative AI English language learning company, today emerged from stealth with $9.25M in seed funding from lead investor Emerge, with participation from Two Lanterns Venture Partners and Kaedan Capital, to further its mission of making English fluency attainable and accessible for the over one billion English learners around the world. Several angel investors also contributed to the round, including Zohar Gilon and Amit Gilon, as well as several founders from prominent technology companies Lightricks and ironSource.
As the most widely spoken language in the world, English is often critical to unlocking professional progress and socioeconomic opportunities, both in the US and across the globe. While there is high demand for English learning solutions, existing options remain costly or largely ineffective. Private tutors can be prohibitively expensive, have limited availability, and can't accommodate the conversational needs and interests of each individual. Learners are also often hesitant to converse with a native speaker for fear of judgement. Meanwhile, most apps on the market are limited and gamified, geared towards beginners or casual learners, and are more often used as a form of entertainment than education. Even as existing language learning solutions attempt to embrace generative AI, they are incorporating generic capabilities as add-on features with inherently limited utility for serious learners.
In stark contrast, Loora's AI is built, trained, and optimized specifically for personalized English learning. It offers the experience of naturally conversing with a native English speaker, on-demand, on any topic, with real-time feedback, all at an affordable cost, eliminating major barriers to achieving fluency. Seventy-one percent of Loora learners use the platform to improve their English for professional purposes. The virtual language coach's conversational AI is especially suited to that end, as it enables learners to gain confidence and the specific English skills they require for their personal and professional growth, as opposed to only casual conversation.
"English is the lingua franca of today's globalized world, and without mastery of the language, professional success can be an uphill battle. Yet, most people still lack access to affordable and impactful English learning solutions," said Roy Mor, CEO and Co-Founder of Loora. "While generative AI has immense potential to help people practice their language skills, not all AI is created equal. Our conversational AI was created and optimized specifically to enable people to access more opportunities by equipping them with the English skills they need to thrive. We're thrilled to have the support of investors who recognize the importance and far-reaching impact of our technology, and we look forward to continuing to deliver the future of English language learning."
"We have been partnering with trailblazing AI companies since 2016, so Loora was a natural fit in our portfolio. In 2020, co-founders Roy Mor and Yonti Levin already recognized the potential of generative AI for language learning and set out on a mission to harness it for the benefit of society, far before the introduction of ChatGPT," said Liad Rubin, General Partner at Emerge. "General-purpose generative AI models are effective in the execution of generic tasks, but there is a massive advantage in building and training an AI specifically for a domain. This is why Loora envisioned and built their AI tutor with the sole purpose of teaching English, creating an unparalleled, next-gen solution for virtual English education. We're excited to be part of this journey."
Loora, which is available via a subscription model, already has thousands of paid subscribers spanning the US, Europe, Asia, and Latin America. Its recent funding will be put towards further research and development of Loora's generative AI capabilities, improving its product, expanding its team of AI researchers and engineers, and ramping up marketing efforts. The app is currently available for download in the App Store, with plans to expand to Android in 2023.
About Loora
Loora harnesses the power of generative AI purpose-built to make English fluency attainable and accessible. Engaging with the virtual language coach's conversational AI is tantamount to practicing with a native English speaker, but on the learner's own terms. Loora is available 24/7, provides feedback on grammar, pronunciation, and accent without judgement, and is significantly more affordable than a private tutor, enabling users to practice at their leisure, to speak with confidence, and to unlock professional and personal growth opportunities. Founded by Roy Mor and Yonti Levin in late 2020, Loora is headquartered in Tel Aviv. For more information visit, https://loora.ai/. To download Loora, click here.
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SOURCE Loora
