Quantitative trading and technology firm Susquehanna International Group co-led a $15m series B round for US-based language learning technology developer Elsa with private equity firm VI Group yesterday.
The round included Gradient Ventures and Globant Ventures, which invested on behalf of internet technology provider Google and digital transformation software provider Globant, in addition to SOSV, Monk’s Hill Ventures, Endeavor Catalyst and U2 guitarist The Edge.
Elsa is the creator of a mobile app that uses speech recognition, automated feedback and deep learning technology to help users with their English pronunciation and the reduction of accents while speaking the language. It is focusing growth efforts on Asia and Latin America.
The company has now raised $27m since it was founded in 2015, including $3.2m in a 2018 pre-series A round led by Monk’s Hill Ventures. It added $7m in an early 2019 series A round led by Gradient Ventures and backed by Monk’s Hill Ventures and SOSV.
