Globant Invests in English Speaking AI-App ELSA together with Google’s AI-focused Gradient Ventures, VI Group and SIG, among others
17 Feb 2021
Globant participates in Series B funding round to accelerate ELSA’s growth, operations in Latin America
SAN FRANCISCO, February 17, 2021 – Globant (NYSE: GLOB), a digitally-native technology services company, today announced it contributed $2.7 million to a Series B $15 million fundraise by ELSA, the world’s leading English speaking and pronunciation app built with Artificial Intelligence. ELSA is investing in this AI-driven project to further contribute to improving humankind with AI.
Globant Ventures, the company’s venture arm, participated in the round alongside lead investors VI (Vietnam Investments) Group and SIG. Other investors included Google’s AI-focused fund Gradient Ventures, SOSV and Monk’s Hill Ventures, Endeavor Catalyst and U2’s The Edge (David Evans).
ELSA helps language learners with an easy way to improve their English speaking abilities by listening to how they pronounce words, sentences or conversations to pinpoint exact errors and provide real-time, accurate suggestions on their pronunciation mistakes. The company will use the capital to expand its operations in Latin America and build a scalable business-to-business platform – allowing companies and educational organizations to offer the app’s coaching services to employees or students.
“ELSA is leading the way education can be improved with AI. We see a great potential in it, as it offers more tools to develop talent worldwide,” said Martín Umaran, Co-founder of Globant. “We’re looking forward to working with its talented leadership team to broadly distribute its app in Latin America and beyond.”
“We’re pleased to leverage the support of our investors as we rapidly grow across Asia with an introduction into the Latin American market this year,” said Vu Van, co-founder and CEO of ELSA. “This investment is a further validation of our team and mission to help people, such as employees and students, improve their English speaking skills and unleash their full potential in today’s global and remote work marketplace.”
For more information on ELSA, visit: https://elsaspeak.com/en/
For more information on Globant Ventures, visit: https://www.globantventures.com/.
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