Israeli AI English-Learning Startup Loora Raises $22 Million in Series B
Israeli AI English-learning startup Loora has raised $22 million in a Series B round, bringing its total funding to $43 million amid surging revenues.
The Israeli startup Loora, which has developed an AI-powered application for learning English with over 15 million users, has raised $22 million in a Series B funding round. The round was led by Union Tech Ventures, with participation from vgames and existing investors Emerge, Hearst Ventures, and QP Ventures. This brings the company's total funding to $43 million.
Growth and Expansion Plans
The company has experienced a surge of over 100% in revenues, with its annual recurring revenue (ARR) reaching tens of millions of dollars. Following the new funding, Loora plans to double its workforce to 60 employees within six months, with the majority based in its Tel Aviv offices. The company was founded by Roy Mor and Yoni Levin, who met during their military service in the elite Sayeret Matkal unit. Mor serves as CEO, and Levin is the CTO.
For most of the world, English is the most significant gateway to advancement, a better job, a university spot, or an entirely different future, said CEO Roy Mor.
Addressing a Global Market
Loora was established to tackle a major employment challenge: approximately 95% of the world's population are non-native English speakers, while about 98.5% of employers in Western countries assess English proficiency during the hiring process. Over the past year, the company has expanded into B2B operations, partnering with over 100 corporations, governments, and universities worldwide that pay for employee and student subscriptions.
Unlike general AI models, Loora has built a proprietary dataset from hundreds of millions of real interactions, tailoring personalized learning paths to ensure effective language acquisition. Users range from professionals seeking career advancement to immigrants in the United States needing to master the language quickly.
