• SpeakX launches its first $1 Million ESOP buyback for 15 team members
• Follows its recent $16 Million pre-Series B fundraise
• Startup strengthens employee ownership with a long-term equity structure

Edtech startup SpeakX, formerly known as Yellow Class, has rolled out its first $1 million ESOP buyback, giving early liquidity to its employees. The company said 15 out of its 20 team members will benefit from this program, marking a significant milestone in its talent and ownership strategy.

The buyback follows SpeakX’s recent $16 million pre-Series B funding round, which introduced performance-based stock grants, tenure-linked ESOP allocation, and a long-term ownership model. Employees who complete two years with the company receive ESOPs with a generous 10 year exercise window, and stock grants are offered across all roles not just leadership, making equity more inclusive.

So far, SpeakX has raised $23.3 million in total funding, including a $1.3 million seed round led by India Quotient and a $6 million Series A round led by Elevation Capital in 2021. The startup said its ESOP buyback is meant to give employees earlier liquidity rather than making them wait for a late-stage round or exit event. The 20 member team currently holds 6% equity, and the ESOP pool will grow with future fundraises.

Founded by Arpit Mittal, SpeakX offers AI-powered English learning through real-world conversation simulations, automated speech correction, and multilingual support. The app reports strong engagement, with learners spending an average of 15 minutes per session.

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Initially a live learning platform, SpeakX pivoted in 2023 to a fully AI-driven learning app to improve accessibility and scale. It now operates in India and select global markets, with plans to expand across Asia and the Middle East. The company also shared its latest performance metrics, one-day CAC payback, 3.7x LTV/CAC in six months, and 35% retention at Month 3.

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