Loora raises $22 million to expand AI-driven English learning

Loora, an AI-driven English language learning platform, has secured $22 million in a Series B funding round. This latest investment brings the company's total funding since its 2021 founding to $43.25 million. The round was led by Union Tech Ventures and included participation from vgames, Emerge, Hearst Ventures, and QP Ventures.

The company intends to use the capital to strengthen its AI research and development teams, accelerate international expansion, and enhance its data and analytics infrastructure. Loora aims to establish a stronger presence in the United States, Europe, Asia, and South America, while increasing its reach within corporations and educational institutions.

Loora’s model utilizes AI to provide personalized dialogue-based instruction, offering a more affordable alternative to human tutors, which can cost up to $50 per hour. The platform targets the 95% of the global population for whom English is not a native language but is essential for professional competitiveness. In Argentina, the company reports over 260,000 users and a 40% year-on-year growth rate.