Monk’s Hill Ventures and Vietnam Investments (VI) Group invested in ELSA Speak, a Vietnam-based mobile application that utilizes machine learning, artificial intelligence and advanced speech recognition technology to enhance English communication skills. Both firms were eager to support Vu Van in her efforts to help fellow non-native English speakers improve their pronunciation using AI technology.
With Monk’s Hill and VI Group’s support, ELSA expanded globally. Downloads increased in Thailand, Japan, Indonesia, India and Latin America. ELSA’s workforce has grown significantly, from 16 employees in March 2018 to over 230 as of May 2024. Over half of ELSA’s full-time employees and managers are female. Van is committed to promoting diversity in recruitment, ensuring a well-represented applicant pool across gender lines before making hiring decisions. ELSA partnered with several corporations to upskill their employees in English conversation and pronunciation, offering scalable and cost-effective solutions.