Carnegie Speech, the intelligent language learning company, today announced the appointment of its new CEO, Paul Musselman, and the closing of a $3.4M series B round of financing.
Mr. Musselman joins Carnegie Speech with more than 15 years of executive management and global experience in strategy, corporate development, finance and sales. He has held various executive roles in strategic development at major technology firms including Intel Capital, IBM, Net Perceptions, Misys and Amdocs. Most notably, Mr. Musselman led IBM's EMEA corporate development team where he received the IBM Global Services Leadership Award and KPMG's Deal of the Year Award. He was also awarded the prestigious Intel Achievement Award for his role in Intel's acquisition of Digital Equipment Computer Semiconductor Division. Mr. Musselman holds a bachelor's degree from the University of California, Berkeley and a master's degree from Harvard University. He is a twelve year decorated veteran of the U.S. Army Special Forces and a graduate of theDefense Language Institute where he studied German.
"English is the world's language, and there is no company that can teach the world more effectively, efficiently and globally than Carnegie Speech. With a potential market measured in billions of people wanting to speak and understand English, there are few opportunities like the one that Carnegie Speech has before it," said Mr. Musselman. "The passionate team at Carnegie Speech has developed a teaching company's technology that is far and away best-in-breed, and is already serving more than 110 corporate and institutional/educational customers worldwide."
Musselman continued, "Being able to speak English fluently with a native tongue/accent is key to achieving a better life for professionals and others around the world; and I'm proud to be part of the team making this aspiration a reality for learners globally."
The series B round of funding was led by Golden Seeds investment firm along with returning investor group Osage Venture Partners and new contributions from New York Angels. Funds from the round will be used to fuel rapid growth of the company and will be largely allocated to increase sales and marketing efforts in the U.S. education sector, and international enterprises in the technology, call center and aviation industries.
"English is the top language being learned throughout the world and Carnegie Speech has the solution to make it accessible," said Stephanie Newby, founder and managing partner of Golden Seeds. "Carnegie Speech is bringing together a seasoned management with a unique technology that offers the only fully closed loop of speech assessment and individualized performance training at the right time in the market."
"As the demand for proficient English speakers continues to grow in the global market, we see a major opportunity for a technology that can deliver significant business impact and help stimulate local economies," said Nate Lentz, Managing Partner of Osage Venture Partners.
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